The cannabis company is ready to go public after a deal with Florida-based Green Roads
There is no doubt that many companies always aim to be able to list their shares on the Nasdaq Capital Market. It seems that The Valens Company Inc. might be next, as it has recently announced that it has filed an initial application for this to become a reality. The move follows an announcement by the company that it is entering the US via a deal with Florida-based Green Roads.
This application is still subject to review and approval by Nasdaq, as certain factors must be analyzed, including applicable listing, governance, and regulatory requirements. It is expected that Valens shareholders will come together to reach an agreement and approve a consolidation of the shares at the next annual meeting (the “Shareholder Meeting”), which is scheduled to be held on May 25, 2021. In the event that this consolidation is approved, Valens would then have a greater likelihood of being approved by NASDAQ shortly after that. Valens expects a resolution to be provided by mid-year, but, until that happens, the shares will continue to trade on the Toronto Stock Exchange.
“We have taken a significant step towards achieving one of our key objectives for 2021 by filing our initial application to list on Nasdaq after announcing our first acquisition in the U.S. We believe that listing in the U.S. will unlock several opportunities to enhance corporate visibility, increase liquidity and broaden The Valens Company’s overall awareness to a larger investor base while driving value for our shareholders,” said Jeff Fallows, president of Valens.