Columbia Care Inc., with operations in 14 U.S. states, began trading today on Toronto’s NEO Exchange under the symbol CCHW. Bloomberg reports the company will list via an acquisition by Canaccord Genuity Growth Corp., a special purpose acquisition company, or SPAC, with a valuation of about $1.4 billion.
The move continues the trend of cannabis operations in the U.S. listing on Canadian exchanges in order to ease a transfer to U.S. boards if federal restrictions on cannabis sales are lifted. Columbia Care listed on Toronto’s NEO Exchange because the listing requirements are similar to the New York Stock Exchange and NASDAQ.
What do you think of this trend? For now, is Canada the place to list?