Canadian cannabis producer The Valens Company Inc. /zigman2/quotes/217937998/delayed CA:VLNS -6.81% said Tuesday its effort to list its shares on the Nasdaq "has progressed at a slower pace than originally anticipated." The company expects to begin trading on Nasdaq by the end of fiscal 2021. The stock will continue to trade on Toronto Stock Exchange. Once its moves to the Nasdaq, its stock will no longer be quoted on the OTCQX. Valens hired Stikeman Elliott LLP in Canada and Foley Hoag LLP to advise the company on its Nasdaq listing application process. Valens shares are up 36% so far this year, compared to a dip of 2.4% by the Cannabis ETF /zigman2/quotes/213173823/composite THCX -5.57% .