SynBiotic SE Plans Canadian Cross-Listing
MUNICH–(BUSINESS WIRE)–The cannabis company SynBiotic SE (ISIN: DE000A2LQ777 / WKN: A2LQ77), already listed on the Frankfurt and Düsseldorf stock exchanges, is now to be listed on the Canadian NEO Exchange in Toronto – a new FinTech stock exchange that has been revolutionizing the market since 2014, offering modern services across the capital market. The Board of Directors and the Managing Director have announced passing a corresponding resolution.
Lars Müller, CEO of SynBiotic SE, explains: “Canada is the flagship country when it comes to the cannabis industry. The sector there is particularly well developed, with a number of listed companies and billions in market capitalization. Above all, having our own Canadian listing makes it easier for us to gain access to specialized investors. In the Canadian capital market, we also ensure ourselves of a completely different degree of attention to and understanding of our issue – and can thus better exploit the opportunities to access capital.”
All of this would be facilitated by the platform company being in the midst of its peer group on the new NEO Exchange. With the Canadian top dogs Tilray, Canopy Growth or the Cronos Group, a vastly improved comparability to that enjoyed in Europe would follow. Müller continues: “Analysts, market observers and investors will look at us with different eyes – but so will the Canadian competition. Because at the latest, when they further expand into Europe, they will be on the lookout for cooperation partners. Therefore, our envisaged move to go public on the NEO Exchange is also a strategic step.”
About SynBiotic SE
SynBiotic SE is the first German listed cannabis company to pursue an EU-focused buy-and-build investment approach. The core business of the platform company is the research and development of new cannabinoid and terpene-based solutions to major social problems such as pain, sleep-disorders and anxiety. In addition, the platform deals with the production of various cannabinoids and develops and distributes pharmaceutical and dietary supplements as well as cosmetic products under its own brands.
Contacts
Johannes Fontner
+49 7522 2674910
[email protected]
