Canadian Cannabis Producer Flowr Announces NASDAQ Application

Canadian cannabis producer The Flowr Corporation FLWPF announced Tuesday that it has submitted an application to list on the NASDAQ.

In addition to the application, Flowr announced its filing of a Form 40-F registration statement with the Securities and Exchange Commission. 

Through its subsidiaries, Flowr is involved in cannabis production, sales and the construction and operation of large-scale cultivation sites that use the company's patented growing systems. 

With its papers filed, Flowr is now awaiting decisions from both the SEC and NASDAQ.

"A NASDAQ listing has the potential to make Flowr's stock more accessible and attractive to a broader group of investors, which would be valuable to us as we build out the company,” Co-CEO Vinay Tolia told Benzinga.

"The U.S. market and Flowr also align concerning shared values. It's also a market that is known as a home for innovative, global companies, and that aligns with what we have built Flowr into.”

What's Next 

The SEC will analyze the company against its regulatory requirements, which include the registration of common shares with the SEC. The NASDAQ will verify that the company has met the set listing requirements.

Flowr's growth comes on the heels of the company going public in the fall of 2018. Through the reverse takeover of The Needle Capital Corp., the company was able to list on a Canadian exchange without filing an IPO.

At that time, Flowr made its intentions known about its U.S. listing plans.

The common shares will continue to trade on the TSX Venture Exchange (TSXV) as FLWR. Flowr said it will announce a U.S. trading date once all regulatory checks and formalities are completed.

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