TerrAscend Corp. Executive Chairman On Company’s Ambition To Uplist On The TSX
In this new Trade To Black Podcast, TDR Founder Shadd Dales spoke with TerrAscend Corp.(CNSX: TER) (OTCMKTS: TRSSF) Executive Chairman, Jason Wild. This was a full-spectrum conversation which covered the challenging operating environment in the United States, why the company ‘deep not wide’ strategy is paying dividends, TerrAscend’s Toronto Stock Exchange listing ambitions and more.
On March 14, TerrAscend Corp. announced its intention to list on the Toronto Stock Exchange (TSX). In connection with its proposed listing on the TSX, and in order to qualify for the TSX’s minimum listing requirements, the company expects to implement an internal reorganization, which will require approval from the company’s shareholders. The listing of common shares remains subject to the review of the TSX and is contingent on the satisfaction of all listing and regulatory requirements.
If successful, the move to the TSX is seen as a significant milestone for the company, as one of the largest and most prestigious stock exchanges in Canada, with more stringent listing requirements than the Canadian Securities Exchange or Toronto Venture Exchange.
To list on the TSX, TerrAscend Corp. has to meet certain criteria and regulatory compliance that Chair Jason Wild is confident that company can achieve:
“I think we have a very good chance of being approved. I think we will qualify once we do the re-org we need to do. It’s not going to be massively complicated or expensive. So, that’s a good thing. We are already structured in a similar way that needs to be done here, because, over the years, we’ve had money that was lent to us by Canopy Growth. And we have to keep that separated from U.S. plant touching operations. So, it’s not going to be a super-heavy lift to do that.”
A successful listing on the TSX will provide TerrAscend with greater access to capital, increased visibility, and a broader investor base. The company will also benefit from the TSX’s more rigorous regulatory oversight and investor protections, which can increase investor confidence and trust in the company.
To view the previous Trade To Black podcast featuring Xebra Brands Ltd. CEO Jay Garnett, click here.
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