By Ketki Saxena
Investing.com -- TerrAscend Corp. has announced that it will be publicly traded on the Toronto Stock Exchange (TSX) from July 4 onwards. The company's common shares are set to trade under the TSND ticker symbol.
The company is expected to delist from the Canadian Securities Exchange by this Friday. The move to the TSX is expected to offer the comapny greater exposure to an expansive group of both institutional and retail investors, according to statements made by their executive chairman.
Terrascend (CSE:TER)'s listing marks a milestone as the first organization to potentially be listed on the TSX with operations in the United States, where cannabis is still federally illegal.
In order to comply with TSX requirements, TerrAscend has undergone a restructuring process., separating its Canadian operations and interests from those within the United States by establishing a new entity called TerrAscend Growth. Apart from Canada, the company also operates in California, Maryland, Michigan, New Jersey, and Pennsylvania.
Terrascend's listing on the TSX could potentially open doors for other multi-state operators based in the United States who wish to access larger investor pools.