Medipharm Labs Corp MEDIF said it applied to upgrade its stock to the Toronto Stock Exchange from the TSX Venture Exchange.
MediPharm is a global extraction, distillation, purification and cannabinoid isolation company. For the last quarter, it reported revenue of $22 million, up by 115% on the year.
Companies listed on larger exchanges are subject to stricter regulations and more scrutiny. It's also easier to attract investors.
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With the legalization of cannabis in the U.S. and Canada, more and more companies are feeling confident enough to apply to have their stock listed on a major exchange such as the Toronto Stock Exchange in Canada, or NYSE or NASDAQ in the U.S.
The listing is subject to approval of the Toronto Stock Exchange.
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