Canadian medical marijuana company Aleafia applies to list on Nasdaq

Business News News

Canadian medical marijuana company Aleafia Health Inc. |phrase background-info='BRIEFING-BOOK' name='aleaf' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|aleaf'||/phrase||phrase background-info='BRIEFING-BOOK' name='ca:alef' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|ca:alef'||/phrase| said Tuesday it has applied to list its common shares on Nasdaq. The company is currently listed on the Toronto TSC Venture Exchange, and trades over the counter in the U.S. under the ticker symbol "ALEAF". "Listing on a major United States stock exchange will provide unparalleled liquidity and place Aleafia among a small handful of Canadian cannabis companies," the company said in a statement. The company is expecting its fully funded annual growing capacity to come to 38,000 kg of cannabis flower in 2019. It has 50,000 medical cannabis patients. Shares have gained 340% in 2018, swept up in the euphoria surrounding the sector as Canada gears up for full legalization of adult recreational use on Oct. 17. The S&P 500 |phrase background-info='BRIEFING-BOOK' name='spx' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|spx'||/phrase| has gained 9.4%.