North American produce and cannabis company Village Farms International is voluntarily delisting its shares from the Toronto Stock Exchange, the company said Tuesday.
Village Farms will retain its U.S. share listing on the Nasdaq Capital Market, where its shares have traded since 2019.
The company “believes the trading volume of its common shares on the TSX no longer justifies the expense and administrative requirements associated with maintaining a TSX listing,” according to a news release.
Village Farms also said it believes the Nasdaq listing offers enough liquidity for shareholders and that the cost savings from the delisting “can be redirected to initiatives intended to generate shareholder value.”
The shares will stop trading on the TSX on Dec. 31.
Stay informed with MJBiz Newsletters
MJBiz’s family of newsletters gives cannabis professionals an edge in this rapidly changing industry.
- MJBiz Daily: Business news for cannabis leaders in your inbox each morning
- MJBiz Cultivator: Insights for wholesale cannabis growers & vertically integrated businesses
- MJBizCon Buzz: Behind-the-scenes buzz on everything MJBizCon
- MJBiz Finance: Financial reports & funding strategies for entrepreneurs + investors
- Hemp Industry Week: Roundup of news from hemp farming to CBD product manufacturing
- And more!
In August, Village Farms acquired Colorado CBD company Balanced Health Botanicals.
Village Farm’s shares trade on the Nasdaq exchange as VFF.