TerrAscend Corp (CSE:TER, OTCQX:TRSSF), a leading North American cannabis operator, has announced that it has applied to list its common shares on the Toronto Stock Exchange.
The company said it expects to first implement an internal reorganization in order to qualify for the TSX's minimum listing requirements, adding that this will require approval from existing shareholders.
"While the United States regulatory environment continues to evolve, we are grateful for the leadership of the TSX, which provides issuers with sensible oversight and regulation in a complex sector to ensure investor protection and capital markets integrity,” TerrAscend executive chairman Jason Wild said in a statement. “We look forward to the opportunity to list on the TSX in the near future.”
The company said the listing remains subject to the review of the TSX and is contingent on the satisfaction of all listing and regulatory requirements. It also cautioned that there is no assurance that the TSX will approve the listing application or that it will complete the reorganization and the listing on the TSX as currently proposed.
TerrAscend has vertically-integrated operations in Pennsylvania, New Jersey, Maryland, Michigan and California and licensed production in Canada. The company operates The Apothecarium and Gage dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets.
TerrAscend's cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. It owns several synergistic businesses and brands including Gage Cannabis, The Apothecarium, Ilera Healthcare, Kind Tree, Legend, State Flower, Valhalla Confections, and Arise Bioscience Inc.
Contact the author at stephen.gunnion@proactiveinvestors.com