Canadian cannabis retail and accessory company High Tide is applying for a listing on the Nasdaq exchange in the United States, with plans to pursue mergers and acquisitions.
The company said it is seeking the Nasdaq listing “as a part of its capital markets initiative with the goal of enhancing shareholder value.”
“This initiative allows the Company to accelerate its business strategy focused on the United States, both in attracting institutional and retail investors and M&A opportunities within the U.S.,” High Tide said in a news release issued Wednesday.
High Tide, which operates marijuana accessory and CBD e-commerce businesses in the U.S., said it already earns roughly 23% of its revenue in that country.
High Tide said it would maintain its Canadian stock listing.
The company’s shares are currently traded on the TSX Venture Exchange as HITI. It also trades on the over-the-counter markets as HITIF.