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.
Village Farms owns a profitable British Columbia-based cannabis subsidiary, Pure Sunfarms, and recently bought a majority stake in a Quebec-based cannabis producer and distributor.
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In August, Village Farms acquired Colorado CBD company Balanced Health Botanicals.
Village Farm’s shares trade on the Nasdaq exchange as VFF.