Curaleaf Is One Step Closer To Trading On Toronto Stock Exchange

Curaleaf Holdings, Inc. CURA CURLF has received conditional approval from the Toronto Stock Exchange to list its subordinate voting shares on the TSX.

The company said the final approval of the TSX listing is subject to meeting certain customary conditions required by the TSX.

In connection with the TSX listing, Curaleaf intends to submit a request to voluntarily delist its shares from the Canadian Securities Exchange, which is expected to be effective on or shortly after the date the shares commence trading on the TSX.

Once the uplisting is fully finalized, Curaleaf will join multi-state operator (MSO) TerrAscend Corp. TSND TSNDF, which is doing business in Canada and the US - and has already secured a listing on TSX this summer. The company run by executive chairman Jason Wild, was the first American cannabis MSO to trade on the Canadian exchange.

Curaleaf's move means gaining access to deeper-pocketed investors, a possibility previously hindered due to U.S. federal illegality, which makes the Nasdaq and NYSE nonviable options. Cannabis MSOs like Curaleaf and TerrAscend are currently trading over-the-counter in the U.S.

Boris Jordan, Curaleaf’s Chairman praised the move, explaining what it means for the company.

"We are excited to announce that Curaleaf has received conditional approval to join the Toronto Stock Exchange," he said. "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."

CURLF Price Action

Curaleaf’s shares traded 1.88% higher at $4.33 per share after the market close on Thursday.