Press release

Merida Dual Lists on NEO and NASDAQ

Sponsored by Businesswire

NEO is pleased to announce that Merida Merger Corp. I (“Merida”), a newly formed Special Purpose Acquisition Corporation (“SPAC”), made its Canadian public markets debut today on the NEO Exchange. In doing so, Merida has become the first SPAC to dual list and the first NEO and NASDAQ dual listing. Merida’s units began trading on NASDAQ on Tuesday, November 5 under the symbol MCMJU, and on NEO today under the symbol MMK.UN. Merida is also the first SPAC to be backed by a dedicated private equity firm focused on investing in the cannabis industry.

Merida raised US$120,000,000 in its initial public offering, which closed today prior to the start of trading. Merida’s qualifying transaction and value creation strategy is to identify, acquire and, after completing its qualifying transaction, assist in the growth of a business in the cannabis industry. Merida is not limited to this industry and may consider opportunities outside of the United States.

“We are thrilled to make our public debut on NEO today, a proven and progressive senior Canadian stock exchange that performs like a true business partner. By dual listing on NASDAQ and NEO, we will access the robust North American and international capital markets as we pursue our qualifying transaction. NEO’s relentless focus on enabling investor trust combined with an exemplary sense of service, clearly differentiates them. It allowed us to achieve a global first to the benefit of our investors: a dual listed SPAC.” Said Peter Lee, President and Chief Financial Officer at Merida.

New York-based boutique investment bank, EarlyBirdCapital (“EBC”), is the lead underwriter of this offering. As the global pioneer and leader in SPACs, EBC has been the lead underwriter of 53 US SPACs, of which 43 (81%) have successfully closed a qualifying transaction. This compares to a 66% success rate for other US SPACs. With Merida, EBC has taken its first step into the Canadian capital markets and, together with Echelon Wealth Partners, enabled the listing of the sixth SPAC on NEO, two of which have already led to successful qualifying transactions.

“We are thrilled that, together with NASDAQ, we are enabling access to a global investor base for Merida and quality liquidity for their investors,” said Jos Schmitt, President and Chief Executive Officer at NEO. “Recent transactions on NEO have proven that SPACs can be a successful avenue to access capital when used at the right time, in the right industry, and with the right stock exchange partner. As strong champions of the SPAC vehicle, we are pleased that the global pioneers of this investment vehicle have placed their trust in us, and we look forward to partnering with Merida and EarlyBirdCapital as they execute upon their value creation strategy.”

Investors can trade shares of MMK.UN through their usual investment channels, including discount brokerage platforms and full-service dealers. The NEO Exchange is now home to over 90 corporate and ETF listings, and consistently facilitates over 10 per cent of all Canadian trading volume. Click here for a complete view of all NEO-listed securities.

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:

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