Trichome Financial Corp. has received conditional approval to list its common shares on the Canadian Securities Exchange (the “CSE”). Successful listing on the CSE will allow the Company to expand its addressable market for credit solutions to include the cannabis sector in the United States.
“Since inception, Trichome Financial has viewed the cannabis credit opportunity in a global context and having the ability to transact in the largest cannabis market in the world is a natural next step for the Company,” said Michael Ruscetta, Chief Executive Officer. “Having built the core of our infrastructure and refined our due diligence process, our team believes that it can leverage its business model to address the need for credit in the United States and capitalize on the unique relationships and insights in that market by virtue of the experience of our founding and largest shareholder Origin House (CSE: OH).”
“The volatility of equity markets has resulted in a growing pipeline for Trichome Financial, with high quality operators seeing the value in solution-driven credit products and providing us the terms and security we require to deliver attractive returns to our shareholders. We expect that entry into the United States will materially increase the number of actionable opportunities and further entrench Trichome Financial as a leader in creative and flexible credit solutions to the cannabis sector.”
No specific loan into the U.S. cannabis market is currently pending. The Company is now evaluating opportunities in Canada, the United States, and other jurisdictions. No loan to any company operating in the United States cannabis market will be made while the Company’s common shares trade on the TSX Venture Exchange.
In accordance with the requirements of listing on the CSE, Trichome Financial will file a Listing Statement, which will be available on sedar.com. Final approval for the listing by the CSE is expected in the first week of December 2019. The Company’s common shares will continue to trade under the ticker “TFC” and no action is required by current shareholders to trade their shares on the CSE.
Trichome Financial intends to apply to delist its common shares from the TSX Venture Exchange. Delisting of the common shares is subject to approval of the TSX Venture Exchange.