The expansion of Canadian cannabis companies into the US public markets continues as Aurora Cannabis (TSX:ACB) officially confirmed its application for a New York Stock Exchange (NYSE) listing on Tuesday (October 9).

As the company awaits for approval from the exchange on its listing and regulatory requirements, Aurora confirmed it would employ the same ticker symbol “ACB” for its shares in the US.


“Through our NYSE listing, Aurora joins an established group of mature global brands with improved access and exposure to an engaged international institutional investor audience,” Terry Booth, CEO of Aurora, said in the press release.

Aurora will join fellow Canadian licensed producer (LP) Canopy Growth (NYSE:CGC,TSX:WEED) on the NYSE, which joined the exchange in May. The first Canadian cannabis stock to reach the a premier US exchange was Cronos Group (NASDAQ:CRON,TSX:CRON), which made its debut on the NASDAQ in February.

Shares of Aurora had already found its way to the US market by trading on the OTC Best Markets. The company confirmed once it obtains approval for its NYSE listing it would de-list its shares from the OTCQX exchange.

The company estimated its NYSE debut will occur before the end of the month.

Aurora had confirmed its intentions to pursue a US listing through its Q4 update to shareholders. It was discovered in a securities filing the cannabis company was targeting the NYSE directly.

“This listing provides access to a broader investor audience who gain the opportunity to participate in our continued success,” Booth said as part of the quarterly report.

This update was given when rumors circulated that Aurora was a top candidate to get a partnership with The Coca-Cola Company (NYSE:KO) for the development of cannabis infused beverages.

During a call with investors Cam Battley, chief corporate office for Aurora, said getting a US listing wouldn’t “affect things immediately” in terms of the cannabis company getting a deal with a major established corporation.

Investor takeaway

Aurora’s confirmation of its NYSE listing is no surprise to the cannabis market at large, but it does provide another stepping stone of validation for the industry. Investors should be aware of the potential this new listing could bring to Aurora’s stock performance.

The company’s stock on the TSX got a boost during Tuesday’s trading session thanks to the NYSE application confirmation. As of 11:30 a.m. EST shares of Aurora were up 3.75 percent to reach C$13.29. Over a year-to-date period, its shares has increased 2.88 percent.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

US Election 2020 and Cannabis

 
Investing in cannabis? Read what experts have to say about cannabis and the US Election!
 

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) announces it has completed a first closing of a non-brokered private placement of up to $2,000,000. The Company accepted subscriptions for 13,740,000 units at a price of $0.05 per unit, for gross proceeds of $687,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.075 for a period of two years from the date of closing, subject to the option of the Company to accelerate the expiry date in the event that its shares trade at $0.15 or more for 10 consecutive days

The Company paid $18,000 in cash and issued 160,000 warrants on the same terms as noted above to qualified finders. Securities issued pursuant to this tranche are subject to trading restrictions until April 5, 2021. The Company is expecting to complete the financing by December 16, 2020. Proceeds will be used for working capital and to fund future investments.

Keep reading... Show less

Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”), announces that further to its press release dated December 3, 2020, the TSX Venture Exchange has approved the repricing of 19,405,804 warrants of the Company that were originally issued on July 27, 2018, to $0.10. These warrants are set to expire on December 31, 2020.

For anybody wishing to exercise these Warrants, please contact the Chief Executive Officer, Terry Donnelly at the particulars below.

Keep reading... Show less

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN), Aurora Cannabis (NYSE: ACB) (TSX: ACB), and HEXO Corp. (NYSE: HEXO)

Cannabis leaders are focusing on innovation in premium branding, global expansion, and tight operational execution in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders:

Keep reading... Show less

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has closed the 2nd and final tranche of its Unit financing. In connection with the closing, the Company issued 1,356,873 Units at a price of $0.55 per Unit, for gross proceeds of $746,280.15. Each Unit consists of one (1) common share and one (1) warrant. Each warrant entitles the holder to purchase one common share of the Company, at an exercise price of $0.75 per share, for a period of two years from the date of issuance. The warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company’s share price on the CSE (or such other stock exchange the Company’s shares may be trading on) is equal to or greater than $1.25 for a period of 20 consecutive trading days. Finder’s fees of $42,542, 3,200 Finder’s shares and 80,550 Finder’s warrants were issued in connection with finder’s fees payable.

In total, the Company raised gross proceeds of $1,757,180 and issued 3,194,873 Units.

Keep reading... Show less

 Sweet Earth Holdings Corp. (CSE: SE) (FSE: 1KZ1) (OTCQB: SEHCF) (“Sweet Earth” the “Company”) is pleased to announce that it has received full Depository Trust Company (“DTC”) eligibility in the United States. On October 20, 2020, Sweet Earth announced that its shares had been listed on the United States’ Over-The-Counter Bulletin (“OTCQB”) under the ticker SEHCF.

DTC status means that Sweet Earth shares are now eligible to be transferred between brokerage accounts within the United States and significantly augments the ease in which American-based investors are able to trade Sweet Earth shares.

Keep reading... Show less