TILT Holdings Inc. TILT TLLTF revealed Monday that it has received approval to list its common shares on the NEO Exchange.
The move follows the company's announcement that it had entered into a multi-state licensing agreement with cannabis product innovator brand 1906 and obtained four provisional licenses - issued by the Massachusetts Cannabis Control Commission - for the cultivation, manufacturing and sale of adult-use cannabis at its Taunton location and to sell adult-use cannabis at its Brockton location.
TILT's common shares will begin trading in Canadian dollars on the NEO on Tuesday, August 17 under the symbol TILT.
The company's common shares are expected to be delisted from the Canadian Securities Exchange at the close of trading on Monday, August 16. TILT has been trading on CSE since December 2018.
Based in Phoenix, the company announced that its common shares will also continue to trade in U.S. dollars on the OTCQX Best Market.
"As we look ahead, we believe the time is right to transfer our Canadian listing to the more senior NEO Exchange given the work we have completed to improve our corporate governance and financial reporting standards," Gary Santo, CEO of TILT Holdings said. "Up-listing to the NEO should improve our access to capital by attracting a stronger institutional shareholder base that will benefit from less fragmented spreads and more effective trading controls. TILT is entering its next phase of growth, and we are proud to partner with NEO."
Price Action: TILT's shares traded 0.91% higher at $0.50 per share at market close Friday.
More recent news from TILT Holdings:
- TILT Holdings' Subsidiary Jupiter Research Borrows $10M Via A Revolving Credit Facility
- Cannabis Co. Tilt Holdings Names Dana Arvidson As New COO
- Cannabis Companies Tilt, Ayr Wellness Pay Nearly $300,000 Each In Fines To Massachusetts Pot Authorities
- TILT Holdings Cannabis Co. To Bring Old Pal Products To Massachusetts Market
Photo: Courtesy of Roberto Valdivia on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Click on the image for more info.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry?
Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.
Get your tickets now before prices surge by following this link.