Glass House Brands Inc. is set to begin trading on the New York Stock Exchange (NYSE) today following approval for rise in the list. In a statement, Kyle Kazan, co-founder, chairman and CEO of Glass House, said the listing was not possible prior to the recent reclassification of medical cannabis to Schedule III and represents an important developmental milestone for Glass House, the cannabis industry at large” and the company’s shareholders.
“Beyond the listing, we remain encouraged by the opportunities presented by the rescheduling. As a leading producer of low-cost sought-after cannabis, Glass House is uniquely positioned to take advantage of the potential near-term opportunities presented, including the opening of interstate trade and the export of medical cannabis to Europe, each of which would significantly increase our addressable market size and unlock our more dynamic profit flow.” – Kettle in one press release
To obtain the NYSE listing, Glass House restructured its business as a medical cannabis-focused entity and deconsolidated its adult-use businesses under a wholly-owned subsidiary, GHB Usub. LLC
The shares are traded under the symbol “GLAS”.
Glass House’s successful growth comes weeks after Trulieve Cannabis Corp. began trading on the stock exchange on June 10. Trulieve also raised in the list following the federal reclassification of medical cannabis.
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