Canada’s decision to legalize the recreational use of cannabis has allowed the rise of an emerging investment market. The cannabis public sector has become one of the most followed industries for investors.
As such, the Investing News Network brings investors a collection of stories on the critical transition and its impact on the public markets.
Canadian cannabis companies are on the move and, as the market continues its maturation thanks to adult-use legalization in the country on October 17, these industry leaders are seeking US investors directly.
Following a securities filing with the US Securities and Exchange Commission (SEC) on Friday (October 5), Canadian licensed producer (LP) Aurora Cannabis (TSX:ACB) is pursuing a listing on the New York Stock Exchange (NYSE). On Tuesday (October 9), the producer confirmed its intentions.
The LP had previously confirmed its intentions to obtain a premier US listing for its shares as part of its Q4 update to shareholders in September.
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“This listing provides access to a broader investor audience who gain the opportunity to participate in our continued success,” Aurora CEO Terry Booth said in a press release.
Although the listing is not final, this has been the best indication of where Aurora would list in the US since it made the announcement.
Cannabis companies have been looking to move shares below the border for a long time. Cronos Group (NASDAQ:CRON,TSX:CRON) was the first company to successfully list its shares in a premier US exchange.
“We believe this will increase long-term shareholder value by improving awareness, liquidity, and appeal to institutional investors,” Mike Continue Reading