TORONTO--(BUSINESS WIRE)--NEO is pleased to announce that Ceres Acquisition Corp. (“Ceres” or the “Corporation”), a newly formed Special Purpose Acquisition Corporation (“SPAC”), made its Canadian public markets debut on the NEO Exchange. Ceres, which closed a US$120,000,000 initial public offering, began trading its Class A Restricted Voting Units yesterday under the symbol NEO:CERE.UN. To complete a qualifying transaction, Ceres intends to target businesses with a focus on the cannabis and related health and wellness industries, however it is not limited to a particular industry or geographic region.
“As we celebrate our public markets launch on NEO, we are excited to leverage our cannabis experience and extensive network to properly identify top-tier management teams and businesses, negotiate transactions and create long-term value for our shareholders,” stated Joe Crouthers, Co-Founder and CEO of Ceres. “We believe our diversified experience in high-growth consumer packaged goods companies, marketing and brand development as well as cannabis and capital markets, positions us for long-term success. NEO is a progressive main board stock exchange with tremendous global growth potential for the cannabis sector and a natural partner for us. They have an invaluable understanding of the SPAC process and intricacies required to position our company for long term success.”
Ceres is the eighth SPAC to list on NEO and the second SPAC listing of 2020 following the Subversive Real Estate Acquisition REIT LP (NEO:SVX.U), which began trading in January.
“We are proud to welcome Ceres to NEO and applaud them for the unique theme underpinning their SPAC strategy. It acknowledges a deep understanding of how the cannabis industry is evolving and where today’s opportunities are,” commented Jos Schmitt, President and CEO of NEO. “Go-to-market efficiency and tailored client-service has driven our leadership in the Canadian SPAC space, and we believe this is just the beginning of an exciting year for SPAC transactions, not only in the cannabis sector but across many industries.”
Investors can trade shares of NEO:CERE.UN through their usual investment channels, including discount brokerage platforms and full-service dealers. The NEO Exchange is now home to close to 100 corporate and ETF listings, and consistently facilitates 12 per cent of all Canadian trading volume. Click here for a complete view of all NEO-listed securities. Click here to learn more about Ceres.
About NEO Exchange
Neo Exchange Inc. is a progressive stock market that brings together investors and capital raisers within a fair and transparent environment. Fully operational since June 2015, NEO puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists senior companies and investment products who want a stock exchange that enables investor trust, quality liquidity and broad awareness, including unfettered access to market data. For more information, please visit: NEOstockexchange.com