Greenrose Acquisition Corp. (NASDAQ: GNRSU, GNRS, GNRSW) (Greenrose), a special purpose acquisition company targeting companies in the cannabis industry, announced that it has filed notice with the Nasdaq Capital Market (“Nasdaq”) and the U.S. Securities and Exchange Commission that it intends to delist its shares from the exchange, effective prior to the market open on June 21, 2021. The reason for the delisting is that upon closing of its previously announced business combinations, Greenrose expects to become a U.S. cannabis company with plant-touching operations and would no longer be in compliance with Nasdaq rules.
As previously announced, Greenroseexpects to simultaneously list on the OTCQXBest Market, with its shares expected to commence trading on June 21, 2021. The ticker symbols are anticipated to stay the same. Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. Streamlined market requirements for OTCQX are designed to help companies lower the cost and complexity of being publicly traded, while providing transparent trading for their investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
