Mr. Bruce Linton reports
CANOPY GROWTH CORPORATION RECEIVES CONDITIONAL APPROVAL TO LIST SHARES ON TSX
Canopy Growth Corp. has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its common shares on the TSX, representing another major industry first for the company.
Canopy Growth was the first federally approved, publicly traded cannabis producer in North America when it listed on the TSX Venture Exchange in April, 2014. It was also the first geographically diversified producer with multiple production licences and the first in the sector to surpass a $100-million market capitalization.
"Graduating to the TSX, and to be the first in the sector to achieve it, is a major accomplishment for our team," said Bruce Linton, chairman and chief executive officer, Canopy Growth. "The sector is growing rapidly, and we have focused on maintaining our leadership position as it grows. Listing on the TSX will bring even more visibility and credibility as we pursue domestic and international business."
The company wishes to thank the TSX Venture Exchange for facilitating its listing since 2014. Public trading has allowed Canopy Growth to operate transparently in an emerging sector that required an unprecedented level of openness in order to be understood. Management welcomes the exposure the new listing will bring from retail investors and institutional managers.
Final approval of the listing is subject to Canopy meeting certain standard requirements of the TSX on or before Sept. 1, 2016. The company expects to satisfy all of the requirements and will make a further announcement once the TSX has issued a bulletin confirming the date on which trading on the TSX will commence. Upon completion of the final listing requirements, Canopy Growth's common shares will be delisted from the TSX Venture Exchange.
Fourth quarter financial results
Financial results for fourth quarter 2016 and fiscal year 2016, the three- and 12-month periods ended March 31, 2016, will be released prior to the end of June, 2016. Additional details, including dial-in information for the quarterly conference call, will be released one week prior.
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