Marijuana multistate operator TerrAscend Corp. revealed its plans to reorganize in a way that will allow the U.S. plant-touching company to list on the Toronto Stock Exchange (TSX).
If 66 2/3% of votes cast by shareholders agree to the proposal in a meeting scheduled for June 22, trading on the TSX could begin shortly after, according to a news release.
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The proposal, detailed in a proxy filed April 20, also requires final approval from the TSX.
TerrAscend also increased its ownership of Cookies Retail Canada Corp. to 95% of issued and outstanding shares.
The company in March announced its plans to list on the TSX in March.
A successful move to the TSX could blaze a trail for other U.S. plant-touching operators to tap into a wider investor pool on the larger exchange.
Both Ontario, Canada-based Canopy Growth, which is accelerating its plans to acquire U.S. operators,
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