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Aphria Inc. (APH.V) (APHQF) announced that it has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its common shares on the TSX.
Listing on the TSX will bring even more visibility and credibility to Aphria as the company pursues new business opportunities domestic and abroad.
Final approval of the listing is subject to Aphria meeting certain standard and customary conditions required by TSX on or before May 3 rd . The company expects to satisfy all requirements.
Aphria will announce when it receives final approval and when trading on the TSX will commence. Upon completion of the final listing requirements, Aphria’s common shares will be delisted from the TSX Venture Exchange.
From the CEO
Aphria CEO Vic Neufeld said, “Graduating to the TSX represents yet another important milestone for Aphria as we continue our successful journey as one of Canada's leading cannabis companies. This achievement comes on the heels of many other important milestones we’v reached: first public LP to report consecutive positive quarterly operating results. First public LP to report consecutive quarters with net profits. First public LP to license its cultivation intellectual property. Diversification with non-cultivation assets. Low cost producer status.”
A Trend to Watch
If Aphria is approved by the TSX Exchange, it will be the third publicly traded licensed cannabis producer to trade on the exchange. Over the next year, we expect to see several licensed producers up-list onto the TSX and we view this as a potential catalyst for these companies.
Investors should take advantage of any continued weakness in the near-term and invest in long- term investments that possess significant upside potential. Stocks investors should watch include: Canopy Growth (TWMJF) (WEED.TO), Emblem Corp (EMC.V) (EMMBF), OrganiGram (OGI.V) (OGRMF), Aurora (ACB.V) (ACBFF), and CanniMed Therapeutics (CMED.TO)
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