Canadian medical cannabis firm AgraFlora Organics International (OTCPK: PUFXF) is planning a public listing on a major international stock exchange.
Finding International Shareholders and Capital
The company is considering a potential listing on the NASDAQ, the New York Stock Exchange, or the AIM, a division of the London Stock Exchange.
It has started due diligence on the NASDAQ, the NYSE and the AIM, and intends to select the stock exchange that will offer long-term benefits.
“We are focused on building a leading international medical cannabis company and a listing on a major U.S. exchange or the AIM would significantly expand our global presence,” AgraFlora President and CEO Derek Ivany stated.
“An international listing provides access to international shareholders and capital and will increase long term shareholder value by significantly increasing market awareness, liquidity and by attracting a broader audience of investors. The Delta Greenhouse Complex conversion continues at an aggressive pace and we continue to be on schedule to have the first phase complete by the end of June,” AgraFlora added.
AgraFlora owns an indoor cultivation operation in London, Ontario. It is a joint venture partner in Propagation Service Canada and its large-scale 2,200,000-sq.-ft. greenhouse complex in Delta, B.C.
The company is preparing the first of three phases of the greenhouse for 250,000 sq. ft. of cannabis flowering and propagation plants expected in the summer of 2019.
The development is expected to be completed in 2020 and with 2.1 million sq. ft. of growing space will have an annual capacity of approximately 250,000 kilograms of cannabis.