Cannara Biotech Inc. is poised for a significant move. The company has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX). This transition marks an important step. It moves Cannara from the TSX Venture Exchange (TSXV). This uplisting aims to boost investor visibility. It also seeks to provide greater liquidity for shareholders. CEO Zohar Krivorot expressed optimism. He highlighted the company’s growth strategy. This move validates the team’s hard work. Final approval is pending TSX requirements.
Company Background and Growth Trajectory
Cannara Biotech focuses on premium cannabis products. It is a vertically integrated producer. The company operates large facilities in Quebec. These facilities span over 1.65 million square feet. They employ advanced cultivation techniques. This allows for efficient, high-grade production. Cannara aims for low-cost, high-quality output. This strategy leverages their scale. The company was incorporated in 2018. It became public in January 2019 on the CSE. It later moved to the TSXV.
Brand Innovations and Product Launches
Cannara has developed a strong brand portfolio. Its main brands include Tribal, Nugz, and Orchid CBD. These brands cater to different consumer segments. Tribal offers uncompromised premium quality cannabis. Nugz focuses on high value in bulk formats. Orchid CBD provides CBD-dominant cannabis with rare genetics. The company actively launches new cannabis products. In February 2021, it launched its brand portfolio in Quebec. This included Tribal, Nugz, and Orchid CBD. More recently, in Q1 2026, five live resin and live rosin vape cartridges launched. These new cannabis products entered Quebec’s vape category.
Financial Performance and Market Position
Cannara Biotech has shown strong financial performance. In Fiscal 2025, net revenues reached $107.3 million. This marked its first year of positive retained earnings. The company achieved record gross profits. Its gross margin also improved significantly. Adjusted EBITDA has shown steady growth. For Q1 2026, net revenue was $30.1 million. This represents a 20% year-over-year increase. Gross profit was $13.5 million. Gross margin hit a record high of 45%. CEO Zohar Krivorot noted its market leadership. Cannara is the number one licensed producer in Quebec. It ranks seventh nationally by sales. Their national market share has grown significantly. It reached 4.1% by October 2025.
Strategic Implications of TSX Listing
Uplisting to the TSX is a strategic move. It signifies company maturity. It enhances visibility to a broader investor base. This can attract institutional investors. Greater liquidity benefits existing shareholders. It may also lower the cost of capital. The TSX is Canada’s senior exchange. Listing there signals stability. It aligns with Cannara’s growth objectives. The company has also expanded its reach in the US. It now trades on the OTCQX Best Market. This move also improves visibility among US investors.
Future Outlook and Expansion
Cannara plans to double its production capacity. It aims for 100,000 kg annually. The company is investing $30 million. This is for capital expenditures over three years. They are developing a new processing center. This supports scaling post-processing operations. Cannara is committed to disciplined, profitable growth. It focuses on operational efficiency gains. A strong financial foundation supports sustainability. The company continues to innovate. It strengthens its presence in key markets like Ontario and Quebec.
