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Cannabis Summary for Jan. 13, 2021

2021-01-13 19:59 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index added 11.54 to 216.11, while the CSE Composite Index added 43.50 to 831.69. Florida cannabis giant Trulieve Cannabis Corp. (TRUL) added $5.00 to $58.00 on 862,900 shares, as it took another step toward becoming a U.S. registered company, seemingly setting its sights on an eventual uplisting to the NYSE or Nasdaq. The company has filed a share registration statement on Form S-1 on EDGAR.

The filing comes within weeks of Trulieve officially becoming a "U.S. domestic issuer" rather than a "foreign private issuer" under U.S. securities laws. The company told investors about this change last July. It explained that, while it would continue to be a B.C. corporation, more than half of its shares were now owned by U.S. residents, triggering the change in its status and the need to become a U.S. registrant. This change would take effect on Jan. 1, 2021. The new registration statement on EDGAR is no particular surprise.

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