Cannara Biotech attains conditional approval for TSX uplisting

Cannara Biotech Inc (CVE: LOVE) (OTCMKTS: LOVFF) (FRA: 8CB0) announced on Jan. 28 that it has received conditional approval to list its common shares on the Toronto Stock Exchange under its current symbol “LOVE.”

The pending move will upgrade the company’s current listing from the TSX Venture Exchange.

Chief executive and founder Zohar Krivorot praised the milestone, calling it a validation of the team’s efforts in the Canadian cannabis industry. A TSX uplisting typically improves liquidity and visibility by opening the stock to a broader base of institutional and retail investors.

The uplisting news follows favourable numbers reported in Cannara’s fiscal Q1 results for the period ending Nov. 30, 2025. The Quebec-based marijuana cultivator pulled gross revenue totalling C$41.8 million during the quarter, representing a 20 per cent year-over-year increase.

Furthermore, gross profit before fair value adjustments climbed 38 per cent to C$13.5 million while adjusted EBITDA jumped 47 per cent from fiscal Q1 of 2025 at C$8.8 million. Operating cash flow also rose by 38 per cent year-over-year to C$8 million, highlighting recent operational efficiency.

Complementing this recent momentum, Cannara uplisted to the top-tier OTCQX market in the United States earlier this month, trading with the ticker LOVFF.

Cannara also achieved the number one market share position in Quebec by retail sales in December. The company holds 13.5 per cent in the province and approximately 4.5 per cent nationally.

Cannara’s cultivation facilities in Quebec yield up to 100,000 kilograms of product annually. The Farnham location is the largest in the province, and they collectively span about 770,000 square feet in terms of cultivation space.

Among Cannara’s rivals are larger national players like Canopy Growth Corp (TSE: WEED) (NASDAQ: CGC) (FRA: 11L), Organigram Global Inc (TSE: OGI) (NASDAQ: OGI) (FRA: 0OG) and Tilray Brands Inc (TSE: TLRY) (NASDAQ: TLRY) (FRA: 2HQ). These companies maintain a significant presence nationwide but have observed varying traction in Quebec because of the market’s preference for local producers and SQDC distribution dynamics.

Those that are based in the province or regionally strong, such as Simply Bare by Rubicon Organics Inc (CVE: ROMJ) (OTCMKTS: ROMJF), Lot 420 and Auxly Cannabis Group Inc (TSE: XLY) (OTCMKTS: CBWTF) (FRA: 3KF) represent direct challenges in the battle for shelf space and French-Canadian consumer loyalty.