MediPharm Labs wants to be listed on NASDAQ

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The cannabis company is ready for the big leagues

MediPharm Labs is a company that works with the extraction of cannabis compounds and is located in Ontario, Canada. It has recently sent in an application to have its shares publicly listed on the NASDAQ exchange, right in the middle of an era in which marijuana stock market prices show change as a constant in North America. If getting the green light from the trading market, they will join a rapidly increasing list of Canada-based companies already traded publicly in the US.

To date, among the companies to have turned their eyes toward the U.S. stock exchange are Cronos Group, Sundial Growers, Tilray, Organigram Holdings, Aurora Cannabis, and Canopy Growth. Within the plans, MediPharm expects to increase its revenue as it begins preparations to sell a variety of products they will be introducing to the market as of December 16. Edibles, extracts, and topicals are among the options MediPharm is getting ready to commercialize.

During a communication from the company, besides possibly joining NASDAQ, MediPharm announced they will still continue to be listed on the Toronto Stock Exchange with the label LABS. “Listing alongside our peers on the Nasdaq will enhance our visibility and access to a larger base of institutional and retail shareholders in the U.S. and globally,” CEO Pat McCutcheon said in the release.

One other aspect to take into account is that MediPharm just secured a credit facility of $29 million with a high category bank. The interest rate that will be charged to the loan will eventually affect the company’s debt-to-EBITDA ratio.