Eden Empire wins conditional listing on Canadian Securities Exchange

A Vancouver-based company hopes to open more cannabis stores than anyone else in British Columbia.

Eden Empire cannabis stores

Eden Empire hopes to open cannabis stores in several cities in British Columbia. Photo by Eden Empire

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Eden Empire has been part of the Vancouver weed industry for many years. That’s because the company opened cannabis stores years before Canada legalized pot on October 17, 2018.

Moreover, its stores offered medicinal weed to patients before Health Canada proclaimed the Marihuana for Medical Purposes Regulations in 2014.

Now, more than six years later, Eden Empire has obtained conditional approval to list shares on the Canadian Securities Exchange. As a result, investors will be able to trade these securities under the ticker symbol “EDEN”.

But first, Eden Empire must convert debentures into common shares to meet one of the conditions.

That’s not all. The Vancouver-based company expects regulators in B.C., Ontario, and Michigan to approve its applications to operate retail cannabis stores.

In addition, executives predict that regulators will give a green light to its cultivation and processing facilities.

Once this occurs, they claim that they will have “the largest retail cannabis footprint in British Columbia”.

Eden officials also state that their retail outlets will carry more than 40 strains.

Eden Empire reveals sites

According to the company’s website, Eden will eventually open locations at 3441 Kingsway in Vancouver and 685 Alpha Street in Victoria.

In addition, the company plans stores in Vernon, Salmon Arm, and Nanaimo.

Last December, Eden Empire announced that the City of Vancouver had approved stores on Davie Street and Cambie Street.

“Eden continues to secure the best locations in B.C.,” said CEO Gerry Trapasso in a December news release.

The B.C. government website shows where every licensed cannabis retail store exists across the province.

The page includes an interactive map. That’s on top of a complete list of license holders, along with their addresses.

The website reveals that individual owners hold most of these licences. However in Vancouver, larger players—such as Hobo Cannabis Company and City Cannabis Company—hold several licences.

Once Eden Empire lists its shares on the Canadian Securities Exchange, it will become the first public company trying to compete in the retail cannabis sector in B.C.

Charlie Smith

I'm the editor of the Georgia Straight newspaper in Vancouver, as well as a CannCentral contributor.

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