Torys Bulletin Used to Provide Context on Cannabis Cross-Listing Activity

June 07, 2018

A bulletin written by a team of Torys lawyers that talks about Canadian cannabis company Cronos’ listing on the Nasdaq has been referenced in an article by Stockhouse.

The Stockhouse article discusses the “frenzy of cross-listing activity” happening in the cannabis industry “as companies stake out territory in this growing market.”

It continues, saying despite the U.S. regarding cannabis illegal at the federal level, the expected trend of Canada seeking “pole-position as a leader in this space” is not what the industry is seeing and goes on to use the bulletin by Torys to support that angle.

Nasdaq Listing for a Canadian Cannabis Company; First Pure Cannabis Play to List in the U.S.”—written by Cheryl Reicin, Andrew Beck, Peter Aziz, and Frazer House—unpacks the interesting development of Canadian cannabis company Cronos’ listing on the Nasdaq.

A small expert from the Stockhouse article is below.

The [bulletin] notes that expanding into the much larger U.S. capital market holds a “significant promise” for Cronos and could even be a catalyst for more cross-border activity by other Canadian LPs watching this play out.

Was Cronos’ focus on the medicinal side of the cannabis business one of the main reasons it achieved this listing? Torys’ analysis admits that that much isn’t clear, but points to Cronos’ strong corporate governance as one of its main keys to that success.

You can read more of Torys’ thought leadership on Cannabis by heading to the Emerging Trends in the Cannabis Industry page.


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