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US Cannabis Seller TerrAscend Seeks Toronto Exchange Listing

  • Company would be a pioneer among multistate operators
  • Plan depends on a reorganization that needs shareholders’ nod
A Cannabis sativa plant, from which marijuana is derived. Cannabis company TerrAscend Corp. has applied for a listing on the Toronto Stock Exchange, which would be the first major stock-market membership for a US multistate operator.

A Cannabis sativa plant, from which marijuana is derived. Cannabis company TerrAscend Corp. has applied for a listing on the Toronto Stock Exchange, which would be the first major stock-market membership for a US multistate operator.

Photographer: John Birchard/Bloomberg News

Cannabis company TerrAscend Corp. has applied for a listing on the Toronto Stock Exchange, which would be the first major stock-market membership for a US multistate operator.

Marijuana remains illegal under US federal law, although Washington has looked the other way as many states have legalized the drug for medical or recreational use. Multistate operators, or MSOs, conduct business in several states without engaging in interstate commerce or using the federal banking system.