U.S. Cannabis Firm Verano Goes Public in Canada to Aid Growth
- Company uses reverse merger, completes $100 million placement
- CEO says listing will support more acquisitions in the U.S.
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Cannabis operator Verano Holdings Corp. is poised to go public as a growing number of companies seek financing and weigh deals to capitalize on the sector’s rapid growth.
The Chicago-based company is scheduled to begin trading Wednesday on the Canadian Securities Exchange following a reverse merger with Alberta-based Majesta Minerals Inc. Some U.S. firms have tapped the Canadian markets as legal restrictions prevent cannabis companies from trading on domestic exchanges.