TORONTO–(BUSINESS WIRE)–NEO is pleased to announce that Choice Consolidation Corp. (“Choice Consolidation” or the “Company”), a newly-organized Special Purpose Acquisition Company (“SPAC”), made its public markets debut on the NEO Exchange today. Having closed a US$150,000,000 initial public offering, the Company is now trading its Class A Restricted Voting Units under the symbol NEO:CDXX.UN.U.
The Choice Consolidation acquisition strategy will target the US cannabis industry including, among others, existing single-state operators in U.S. markets with high barriers to entry, distressed assets that require minimal to moderate incremental capital to turn around, and sellers that need help bringing their own assets to the finish line. The Company’s management team believes that it can capitalize on the “second mover advantage” – lessons learned from legacy entrants – and enable efficiencies across all aspects of the supply chain.
“We are thrilled to make our public market debut on the NEO Exchange as we begin the next phase of effecting our qualifying transaction with a focus on US cannabis acquisitions,” commented Joe Caltabiano, CEO of Choice Consolidation Corporation. “As a senior listing exchange, NEO has established itself to be a leading platform for SPACs. We chose to partner with the NEO Exchange due to their stringent listing requirements, which we believe provide increased transparency to both retail and institutional investors, and their relentless focus on providing issuers with an optimal experience.”
Mr. Caltabiano continued: “Over the coming months, we look forward to effecting a transaction that will create a best-in-class cannabis multi-state operator (“MSO”), with assets across key limited license markets in the US. Our management team and board of directors have a proven track record with more than 25 cannabis acquisitions that have led to value creation for shareholders. We look forward to building another scaled and profitable MSO, this time with an even deeper understanding of what it takes to generate excellent cultivation yields, streamlined manufacturing, and a differentiated retail experience for patients and customers.”
With today’s launch, Choice Consolidation has become the 10th SPAC to join the growing class of SPACs to list on the NEO Exchange. Home to over 100 corporate and ETF listings, the NEO Exchange consistently facilitates close to 15 percent of all Canadian trading volume. Click here for a complete view of all NEO-listed securities.
“With a well-defined acquisition strategy backed by a proven leadership team, Choice Consolidation is ready to enable the next prominent MSO in the US cannabis industry,” remarked Jos Schmitt, President and CEO of the NEO Exchange. “We share their commitment to excellence in pursuit of success and are proud they selected us as their listing partner, further confirming that NEO is the Canadian stock of exchange of choice for SPACs.”
Investors can trade shares of NEO:CDXX.UN.U through their usual investment channels, including discount brokerage platforms and full-service dealers.
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About Choice Consolidation Corp.
Choice Consolidation Corp. is a Special Purpose Acquisition Company (SPAC) created to identify existing opportunities toward the development of a new multi-state operator in the rapidly growing cannabis space. Co-founded by leading business pioneers in the industry, Choice Consolidation Corp. will leverage years of experience, in-depth industry knowledge and nationwide relationships to acquire businesses in key targeted markets in order to create next-generation multi-state operators. For more information, visit www.choiceconsol.com or contact investors@jscfund.com by email.
