CannTrust applies to list its common shares on the New York Stock Exchange

BUSINESS

CannTrust applies to list its common shares on the New York Stock Exchange

The Canadian Press Published Tuesday, January 8, 2019 10:59AM EST

Cannabis plants are photographed during the grand opening event for the CannTrust Niagara Greenhouse Facility in Fenwick, Ont., on Tuesday, June 26, 2018. (THE CANADIAN PRESS / Tijana Martin)

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VAUGHAN, Ont. -- Licensed marijuana producer CannTrust Holdings Inc. says it has applied to list its common shares on the New York Stock Exchange.

The Vaughan, Ont.-based pot company is the latest to seek a listing south of the border and access a broader investor base.

For example, Canopy Growth Corp. and Aurora Cannabis Inc. have listed their shares on the NYSE, while HEXO Corp. has also filed an application to list on the NYSE.

Beacon Securities analyst Russell Stanley says there are just five Canadian licensed producers currently trading on U.S. exchanges.

Stanley says a U.S. exchange listing would significantly expand CannTrust's profile and investor audience.

CannTrust says its application to list on the NYSE remains subject to approval by the exchange and contingent on the satisfaction of all listing and regulatory requirements.