Greenway announces listing date and ticker symbol
The greenhouse producer will be traded on the CSE under the abbreviation GWAY from Tuesday
On Monday, the company announced that, upon receipt of final approval, its shares would be listed on the Canadian Stock Exchange under the symbol GWAY starting Tuesday (September 21).
According to a statement, Greenway will be majority owned by Sunrite Greenhouses Ltd. remain, a greenhouse producer within the Del Fresco Group of Companies.
The Ontario-based greenhouse grower has 121.8 million shares of common stock issued and outstanding. Greenway states that 101.6 million common shares owned by directors and officers of the company are held in escrow under an agreement dated September 3, 2021.
Greenway's top management includes:
Jamie D'Alimonte, director, co-chair and CEO; Carl Mastronardi, director, co-chair and president; Darren Peddle, Director and CFO; Marty Komsa, independent director; Dennis Staudt, independent board member; and Andrew Brown, company secretary. Greenway is entering a difficult market. As listed cannabis companies' earnings disappoint and hopes of swift federal reform fizzle out in the US, pot stocks are declining across the board.
Greenway announces public listing date and ticker symbol - bud The first offers from Greenway via Wildfire Cannabis Co. have generated positive reactions in the industry. Image via greenway
As the legal Canadian market continues to grow steadily, producers face stiff competition and a persistent supply glut.
CFO Peddle says his company's facilities are the right size but have the infrastructure to quickly expand capacity when needed.
"We believe the company has the foundations for expansion in the cannabis industry with its cost efficiency and product quality. We look forward to giving investors the opportunity to grow with us," he said in the statement.
CEO D'Alimonte thanks the shareholders for their continued support.
"Carl Mastronardi and I will lead this company through its next phase with the same integrity that has served us well with our other companies. We are focused on cost management, product quality and return on investment."