The listing application for the Ontario-based cannabis company is subject to a number of regulatory requirements, including registration of its common shares under the US Securities Exchange Act.
In the meantime, TGOD’s shares will continue to be traded on the Toronto Stock Exchange (TSX).
TGOD CEO Brian Athaide said in a press release that the move will broaden the investor base for the company and “increase access for international investors as (they) build the leading global organic cannabis brand.”
He added, “Our team remains focused on executing our business plan and creating value for our shareholders.”
Some recent international moves on the part of the company include the launch of its Global Strategic Hemp Division in June to help it expand into emerging international hemp markets.
The new division is set to leverage TGOD’s expertise in the European hemp CBD market. “(This should) fuel growth and accelerate the development and commercialization of new products across its network of international partners,” a press release reads.
TGOD also entered the US beverage market earlier this year with an investment into Califormulations with the goal of creating a line of TGOD-branded hemp-based CBD beverages.
The company began trading on the TSX last year and since then has announced partnerships with other cannabis companies, including a multi-year agreement for extraction, formulation and packaging services for Neptune Wellness Solutions (TSX:NEPT).
In its results for Q1 2019, the company reported that it’s on track with the construction of its sites in Hamilton, Ontario, and Valleyfield, Quebec, with an investment of C$46.9 million in the first quarter. The report also states that the bulk of the revenue from the quarter, C$2.4 million, came from its subsidiary HemPoland, representing a 28 percent increase over the previous quarter.
Last month, another player in the cannabis space, KushCo Holdings (OTCQX:KSHB), also applied for a NASDAQ listing. The California-based company specializes in creating packaging, containers and other ancillary cannabis products and currently trades on the OTCQX.
Shares of TGOD opened at C$3.29 on Wednesday before rising to C$3.46. As of 2:00 p.m. EDT, the company sat at C$3.33.
TGOD expects to release its second quarter results on August 13 after markets close.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).