FSD Pharma Inc. received approval to list its shares on the Nasdaq Capital Market.

The Cobourg, Ontario-based company will have its class B subordinate voting shares, a type of common stock, listed on Nasdaq. Trading of the stocks will start in the near future, the company said, without giving a date.

FSD Pharma is already listed on the Canadian Securities Exchange. The company in October said it is consolidating its class A multiple voting shares and its class B subordinate voting shares, each on a 1-to-201 basis. Following consolidation, FSD Pharma will have 72 issued and outstanding class A shares, representing 276,660 votes or about 72% of the company's voting rights.

FSD Pharma is a medical cannabis company focused on developing indoor-grown pharmaceutical-grade cannabis.