Cannabis dries at a facility in Fenwick, Ont., on Tuesday, June 26, 2018. THE CANADIAN PRESS/Tijana Martin
TORONTO – TerrAscend Corp. says it will be listed on the Toronto Stock Exchange next week.
The Toronto-based cannabis company says its common shares will begin trading on the exchange under the TSND ticker on July 4.
The company behind the Apothecarium and Gage stores will be delisted from the Canadian Securities Exchange on Friday.
TerrAscend’s executive chairman says the move will offer the company greater access to a broader group of institutional and retail investors.
The company spent recent months acquiring a cultivation facility in Maryland, reducing expenses and working to become cash-flow positive.
Its listing comes as several Canadian cannabis companies are struggling to reach profitability, and after an auditor said it had substantial doubt about the ability of Canopy Growth Corp., one of the country’s largest pot brands, to continue.
This report by The Canadian Press was first published June 29, 2023.
