I guess they realize the NEO Exchange is a dog's behind Getting themselves prepped in the hopes that SAFE pass's, so they can transfer over to the Nasdaq or NYSE as fast as possible the day they can uplist. haha, I don't blame them. Actually might be a smart play by them, wondering if any of the other MSO's have been laying similar groundwork.
SAN JOSE, Calif., Oct. 11, 2021 /PRNewswire/ - TPCO Holding Corp. ("The Parent Company'' or the "Company") (NEO: GRAM.U) (OTCQX: GRAMF), today announced that its amended registration statement on Form 10 (the "Registration Statement") originally filed with the Securities and Exchange Commission ("SEC") on August 9, 2021 became effective on October 8, 2021.
The Registration Statement registered the Company's common shares (the "Common Shares") and share purchase warrants (the "Warrants" and, together with the Common Shares, the "Securities") under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") in advance of potentially being permitted to list the Common Shares and the Warrants on the New York Stock Exchange or the Nasdaq Stock Market. As a result of the registration of the Securities, the Company will, among other things, now file periodic (Forms 10-K and 10-Q) and current (Form 8-K) reports with the SEC.
"With the SAFE Banking Act heading to the Senate and national support for cannabis reform at an all-time high, we are working quickly to capitalize on the opportunity to up list to a mature US exchange following further advancement at a Federal level," said Troy Datcher, Chief Executive Officer of The Parent Company. "Our successes in California have provided us with a strong foundation that we expect to leverage nationally as the industry grows. Up listing our shares will provide seamless access across all trading platforms and applications, enabling a broader pool of investors to share in our success as we become the most impactful cannabis company in the world."
The Registration Statement was filed to, among other things, provide liquidity to its shareholders by (a) making the Company eligible to register Common Shares issuable pursuant to the TPCO Holding Corp. Equity Incentive Plan the Securities Act of 1933, as amended (the "Securities Act"), on Form S-8 and (b) facilitate trading of the Common Shares and Warrants under Rule 144 promulgated under the Securities Act of 1933, as amended, one year after the filing of the Registration Statement.