A Toronto-based cannabis producer has become the first to trade on the US stock exchange.
Cronos Group announced this week that it began trading its common shares in the US, and will be elevated into the NASDAQ Global Market.
The Canadian company’s common shares began trading on February 27, under the symbol “CRON.”
“This up listing to NASDAQ is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint,” said Mike Gorenstein, CEO of Cronos Group, in a statement. “We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors.”
— Cronos Group (@CronosGroupMJN) February 26, 2018
Locally, Cronos Group will retain its listing on the TSX Venture Exchange (“TSX-V”) under the symbol “MJN.
According to a release, Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across four continents.
It has two cannabis production facilities, one in Ontario and the other in BC, as well as operations in Israel and Australia. It also has access to over 12,000 pharmacies in Germany.