Maritime Launch Services has won final approval from the Toronto Stock Exchange and its shares will begin trading on the exchange at the market open on Tuesday, Nov. 3, under the symbol MAXQ.
The Halifax-based company and developer of Spaceport Nova Scotia received conditional approval in mid-October. Its shares will stop trading on Cboe Canada at the close on Monday.
Chief executive Stephen Matier said in a news release that the move “is another key milestone as we execute on that vision,” which he described as building national infrastructure that gives Canada sovereign access to space. He said the listing would broaden the company’s visibility with investors.
Maritime Launch shares closed Friday at 47 cents on Cboe Canada, up 68 per cent since the start of the year. They have traded mostly between 40 and 50 cents since July, well below their April peak.
Maritime Launch Services went public in April 2022 through a merger with a dormant listed shell and began trading on the NEO Exchange, now Cboe Canada. A senior TSX listing generally brings wider access to capital, more analyst coverage and more institutional interest. It also starts the clock on index eligibility: S&P Dow Jones Indices requires six full calendar months on the TSX before a company can join the S&P/TSX Composite, so Maritime Launch could qualify by mid-2027 at the earliest, provided it also meets the index’s share-price, size and liquidity tests.