Canadian cannabis producer TerrAscend begins trading today (July 4) on the Toronto Stock Exchange under the ticker symbol “TSND.”
The company has said that its listing in Toronto will provide it with access to capital from both institutional and retail investors.
The company, which is based in Mississauga, Ontario, is expected to raise $20 million from the share sale, the proceeds of which will go towards ongoing expenses.
TerrAscend recently purchased a cannabis cultivation facility in Maryland as it prepares for the eventual legalization of cannabis nationally in the U.S.
The company has said it is also reducing expenses and working to become cash-flow positive.
However, TerrAscend’s listing on the Toronto Stock Exchange comes as several Canadian cannabis producers struggle to achieve profitability and remain in business.
Canopy Growth (WEED), which at one time was Canada’s biggest cannabis company, recently warned of its ability to remain a going concern.
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