Another medical marijuana company, CannTrust Holdings Inc. (CSE: TRST), is looking to join the Toronto Stock Exchange (TSX) sometime after May 21st. A leading medical marijuana producer under Canada Health’s Access to Cannabis for Medical Purposes Regulation (ACMPR) program, CannTrust is a small cap company with a market capitalization of just under $600 million.
CannTrust started in 2014 and is very focused on keeping all cannabis products to pharmaceutical standards, right down to the packaging that they use. They have hydroponic facilities in two locations, one 50,000 square foot facility in Vaughn, Ontario and the other is a 430,000 square foot facility in Niagra.
“Graduating to the TSX represents yet another important milestone for CannTrust as we continue on our successful journey as one of Canada’s leading cannabis companies,” said Eric Paul, Chief Executive Officer of CannTrust.
CannTrust’s listing on the Canadian Securities Exchange played an important role in the publicly recognized growth of the Company and this new listing on the TSX will allow a broader range of investors to participate in the CannTrust story.
Final approval of the listing is subject to CannTrust fulfilling certain standard and customary conditions required by the TSX, to be finalized on or before the TSX imposed deadline of May 21st, 2018. CannTrust is confident that it will satisfy all requirements and will release a statement immediately following the issuance of the TSX bulletin confirming the date on which shares of CannTrust will commence trading on the TSX. Upon completion of the final listing requirements, CannTrust’s common shares will simultaneously be delisted from the Canadian Securities Exchange and begin trading on the TSX.
With recreational marijuana coming sometime this year in Canada, all of these medical marijuana companies are likely to participate in recreational marijuana production as well. The expansion efforts as well as trying to be listed on the premier exchange for marijuana companies, TSX, is likely all due to the company trying to set itself the best way possible to take advantage of what would be a much larger consumer base. Do you believe that with legal recreational marijuana in Canada, that they will eventually see little point in even having a medical marijuana program?