Cronos, a Canadian cannabis producer, announced today that the trading of its common shares in the United States will graduate from the Nasdaq International Designation to the Nasdaq Global Markets.
Cronos said the company expects that its common shares will begin trading on Nasdaq on Tuesday, February 27, 2018 under the trading ticker symbol “CRON.”
This achievement will make Cronos the first marijuana company on a major U.S. stock exchange – giving U.S. investors a secure investment option that has been authorized by the Securities and Exchange Commission.
“This up listing to NASDAQ is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint,” said Mike Gorenstein, CEO of Cronos Group. “We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors.”
The legal marijuana industry is rapidly establishing itself in multiple countries across the globe. Currently, recreational marijuana is federally legal in Uruguay and will soon be federally legal in Canada. Although marijuana is illegal federally in the U.S., nine states and Washington, D.C. have legalized recreational marijuana, and 29 states have legalized medical marijuana through state led initiatives.
As well, there are currently approximately 30 countries with legal medical marijuana programs. They include Canada, Australia, Ireland, Israel, The Czech Republic, The Netherlands, Colombia and Jamaica.
Like many companies in the growing legal marijuana markets, Cronos is setting their sights on international opportunities, in which the company can conduct business in legal jurisdictions. Cronos Group is a globally diversified cannabis company with a presence across four continents.
By Marijuana.Ca Staff