The Flowr Corporation FLWPF announced Thursday that its listing application was approved by the Nasdaq Stock Market.
Why It Matters
The approval puts Flowr on track to become the latest cannabis company to have its common shares listed on the Nasdaq.
When announcing its application submission in February, company co-CEO Vinay Tolia said a Nasdaq listing could make the company more accessible and attractive to a broader range of investors.
Tolia shared similar sentiments in a Thursday press release announcing the company's Nasdaq approval.
“We have made tremendous progress against our strategic priorities in 2019, and the approval of our listing on the Nasdaq further enhances our capital markets objectives," Tolia said.
What’s Next
A date for trading commencement will be announced by Flowr once its 40-F registration statement is made effective by the SEC, according to the company. Flowr’s common shares will be listed under the symbol FLWR.
Tolia said the company expects to complete construction of an indoor facility known as Kelowna 1 later this year.
The development is intended to further expand the Kelowna-based campus and advance Flowr's global plans through a partnership with Holigen Holdings Limited.
Price Action
Over-the-counter Flowr shares were up 8.75 percent at $5.66 at the time of publication Friday.
Related links:
Canada's Flowr Corp. Prepares To Go Public, Bets On Premium Cannabis, Eyes Global Expansion
Canadian Cannabis Producer Flowr Announces Nasdaq Application
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!