TerrAscend Corp. TRSSF, a cannabis producer with operations in several U.S. states, said Wednesday that it had received “conditional approval” to list its shares on the Toronto Stock Exchange, putting it one step closer to trading on an exchange that has been off-limits to pot producers that operate in the U.S. TerrAscend, which also has a retail business in Canada, said final approval depended on its ability to meet “certain customary conditions” required by the exchange. The company also requested to delist from the Canadian Securities Exchange, the home to many publicly-traded U.S. pot companies, and where TerrAscend has traded since 2017. Federal-level prohibition in the U.S. has kept U.S. pot producers from uplisting to the Toronto Stock Exchange. TerrAscend told Bloomberg in March that moving to a major exchange like the TSX would “bring a lot more liquidity to our listing.” The company had been undergoing an internal restructuring in order to qualify for that listing. Shares fell 2% on Wednesday.
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