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“This is very irresponsible of the TSX,” he said in an interview.

“How in the world are they going to adjudicate and apply a very broad statement like that?”

The news came as the Leamington, Ont.-based company started a previously arranged bought-deal financing agreement to raise $80 million, issuing more than 11 million shares at a price of $7.25 per share with an additional option for 1.6 million shares — about five per cent higher than what it was publicly trading for Tuesday.

Yet, Neufeld said he has no intention of moving to the smaller marijuana stock-friendly Canadian Securities Exchange even after the Canadian Securities Administrators on Monday issued guidance essentially gave the green light to allow it to continue to house cross-border marijuana companies as long as the listers disclosure certain risks when investing south of the border due to conflicting state and federal laws.

“It’s not our preferred option, obviously not. We want to stay on the big board,” Neufeld said. He added that he aims to start a dialogue with the TMX Group to find a “win-win” solution, and has no plans to walk away from their U.S. ambitions.

Neufeld said Tuesday that if it cannot reach a compromise with the TMX, there are some other options at its disposal, including a spin-off of its U.S. activities to be listed on the CSE.

However, he viewed the TSX notice yesterday as a “door opener” to a conversation, with the hopes of a solution by the end of the year.