Canada-based licensed cannabis producer CannTrust Holdings (PNK:CNTTF) has applied to list its common shares on the New York Stock Exchange (NYSE).
CannTrust is a federally-regulated licensed producer of medical and recreational cannabis in Canada. The company operates its 450,000-sq.-ft. Niagara perpetual harvest facility and serves over 57,000 medical patients with its dried, extract and capsule products. It prepares and packages products at the 60,000-sq.-ft. manufacturing center in Vaughan, Ontario.
CannTrust is developing nanotechnology to develop new products in the medical, recreational, beauty, wellness and pet markets. The company has established its international footprint through a strategic partnership with Cannatrek Ltd. in Australia and a joint venture with STENOCARE in Denmark. It has also partnered with Breakthru Beverage Group through Kindred Canada for recreational distribution in Canada.
Meanwhile, CannTrust has been working with Ontario’s McMaster University and Gold Coast University in Australia on evidence-based research regarding the use and efficacy of cannabis.
CannTrust Shares Listing on NYSE
CannTrust Holdings shares listing on the NYSE remains subject to the approval of the NYSE and the satisfaction of all applicable listing and regulatory requirements, the company said in a press statement.
In connection with the listing, the company has filed a registration statement on Form 40-F with the U.S. Securities and Exchange Commission. The registration statement has not yet been declared effective by the SEC.
Upon receipt of all required approvals and completion of the formal listing process, the company will publicly announce its first trading date on the NYSE.
“CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation,” Peter Aceto, the CEO of CannTrust, said in a press statement. “A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the Company’s exposure and expand our business on an international scale.”