North American cannabis operator TerrAscend on Wednesday won conditional approval to list on the Toronto Stock Exchange (TSX) – a first for a company with plant-touching operations in the U.S., where marijuana remains federally illegal.
The TSX – Canada’s largest stock exchange and the third-largest in North America – must still give the company final approval, TerrAscend said in a news release.
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If the exchange does sign off, it could pave the way for other U.S. multistate operators to tap into a larger pool of investors on the TSX.
To meet the requirements of the exchange, TerrAscend is restructuring to segregate its Canadian operations and interests from its U.S. facilities through the creation of a new entity, TerrAscend Growth.
Besides Canada, TerrAscend operates in California, Maryland, Michigan, New Jersey and Pennsylvania.
The company also recently announced it entered into a definitive agreement to acquire Peninsula Alternative
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