The company must still address certain requirements set by the TSX before the uplisting is final.
New York-based Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) has won “conditional approval” from Canadian securities regulators to uplist its shares to the Toronto Stock Exchange, the company announced Thursday.
“We are now one step closer to accessing an even broader set of global institutional investors than we currently have, alongside the capital and increased liquidity that comes with listing on a major exchange such as the TSX,” Curaleaf Executive Chairman Boris Jordan said in a statement.
The uplisting, which will allow the company to trade subordinate voting shares, has yet to be fully finalized. Curaleaf noted it still must meet certain conditions set by the TSX before its shares can begin trading on the exchange. Once that process is complete, the company said it will issue another statement confirming when its shares will be active on the TSX.
In conjunction with the uplisting, Curaleaf will cease trading on the Canadian Securities Exchange, where it trades under the symbol CURA, and will be de-listed from the CSE as soon as its shares appear on the TSX.
Uplisting to the TSX has been a goal of Curaleaf’s through 2023, with executives having touted the potential financial benefits of moving upwards to a more prestigious exchange.
Upon receiving final approval, Curaleaf will join fellow cannabis operator TerrAscend (TSX: TSND) (OTCQX: TRSSF) on the senior Canadian exchange.
Curaleaf also trades on over-the-counter markets under the ticker symbol CURLF.
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