Kelowna, British Columba-based GTEC Cannabis Co. says it has received approval to graduate from the TSX Venture Exchange and now can list its shares on the Toronto Stock Exchange.
The company also said it plans to change its name to Avant Brands.
Trading on the Toronto Stock Exchange will commence July 12 under the ticker symbol AVNT.
The company’s shares currently trade on the TSX Venture Exchange as GTEC.
“We believe that a TSX listing recognizes our strong commitment to corporate governance and provides us with exposure to a broad new investor base that will enhance the liquidity of our common shares and warrants,” Norton Singhavon, founder and CEO, said in a statement.
GTEC’s rebrand “will further align and strengthen the company’s identity as it continues its pursuit to be a North American leader in handcrafted and highly sought-after cannabis brands,” according to the company’s announcement.
GTEC’s net revenue of 2 million Canadian dollars ($1.6 million) for the quarter ended Feb. 28 helped the company post net income of CA$815,000.
Cash and cash equivalents totaled CA$1.6 million.