The Valens Company (TSX: VLNS) appears to be in search of additional liquidity. The company this morning announced that it has submitted an application to upgrade its US listing to the Nasdaq Capital Market.
The initial application is expected to be reviewed by June 2021, after which the exchange is expected to make a final decision. If approved, the company will continue to trade on the Toronto Stock Exchange under its current symbol, while maintaining the big board listing in the US.
Furthermore, as a result of the application the company will look to consolidate its shares to meet listing requirements. A potential consolidation figure was not provided, with details to be released in connection with its management information circular ahead of next months shareholder meeting. The company currently has roughly 159.38 million shares outstanding.
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The company intends to seek the listing as a means of enhancing corporate visibility, liquidity, and broaden investor awareness of the company while improving value for shareholders.
The Valens Company last traded at $3.43 on the TSX.
Information for this briefing was found via Sedar and The Valens Company. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
