Acreage Holdings, a multistate hashish firm based mostly in New York, is planning to go public in Canada via a reverse takeover, turning into the newest U.S. marijuana enterprise to get its shares listed north of the border by way of an RTO.
Acreage is looking for to commerce on the Canadian Securities Exchange after taking up Toronto-based Applied Inventions Management, in accordance to a information launch.
According to Bloomberg, Applied Inventions Management doesn’t have vital operations. Previously, it manufactured, marketed and distributed swimming pool intrusion alarms.
Here’s what you want to know:
- The proposed transaction is predicted to shut in November.
- The new firm will probably be led by Acreage executives: Kevin Murphy would be the new CEO; George Allen, president; and Glen Leibowitz, chief monetary officer.
- Several different U.S. hashish corporations have gone the route of reverse takeover, primarily shopping for a nonoperational Canadian firm to velocity up the method to go public in a rustic the place medical marijuana is authorized on the federal degree and leisure MJ shall be legalized in October.