The chief executive of the Toronto Stock Exchange has suggested that Canopy Growth’s proposed structure to speed its entry into the U.S. cannabis market is compatible with the exchange’s rules.
The Canadian cannabis producer worked with the exchange in how the proposed deal is structured, TMX Group CEO John McKenzie told BNN Bloomberg.
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Canopy shares trade as WEED on the Toronto Stock Exchange (TSX) and as CGC on the Nasdaq.
The TSX endorsement comes one day after Canopy disclosed that the New York-based Nasdaq stock exchange objects to the Canadian company’s plan to eventually consolidate the financial results of Canopy USA, according to a regulatory filing with the U.S. Securities and Exchange Commission.
Analysts said that raises questions about whether the Ontario-based cannabis producer could keep its shares listed on the Nasdaq if it proceeds with the plan.
Canopy on Tuesday announced that it would speed its entry
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