Curaleaf Aims to Join TSX, Following TerrAscend’s Lead for Expanded Investor Access

NEW YORK– Curaleaf Holdings, a cannabis multistate operator (MSO) based in New York, is seeking to follow in the footsteps of TerrAscend by joining the Toronto Stock Exchange (TSX). By making this move, Curaleaf hopes to access a wider pool of investors and enhance its market presence.

The news of Curaleaf’s aspirations to list on the TSX was initially reported by Cultivated and was disclosed in a shareholder meeting notice filed by the company last week.

As part of the process to list on the Toronto Stock Exchange, Curaleaf intends to reorganize its U.S. cannabis assets. The first step in this endeavor involves seeking consent from shareholders for proposed indenture amendments, including redefining key terms like “asset sales” and “change of control.”

TerrAscend, another MSO in the cannabis industry, successfully began trading on the TSX on July 4 after undertaking a restructuring of its business to meet the exchange’s requirements.

The move has already shown positive results for TerrAscend. Jason Wild, the executive chair of the company, tweeted on July 13 that TerrAscend’s stock is no longer restricted at Morgan Stanley, allowing the investment bank’s customers to freely trade TerrAscend shares on the TSX.

Curaleaf’s interest in listing on a larger exchange was evident when CEO Matt Darin stated in a November interview with MJBizDaily that the company was exploring its options. He noted that uplisting to the TSX could improve liquidity and expand access for institutional investors to purchase Curaleaf’s stock. The company is actively engaging in conversations to determine the best opportunity for greater liquidity and accessibility to a larger investor base.

Currently, Curaleaf’s shares are traded over-the-counter under the ticker symbol CURLF and on the Canadian Securities Exchange under the ticker symbol CURA. By joining the TSX, Curaleaf aims to take advantage of the exchange’s broader investor base and increased liquidity, further solidifying its position in the cannabis market.