- Creso Pharma to commence trading on the US OTCQB (“OTC”) market under the code COPHF from Friday, 11 June 2021 (USA OTC Market Time)
- Provides exposure to deeper capital market as well as greater access and liquidity for North American investors
- Entering the US market aligns with Creso’s strategic outlook in expanding its operations within the region
- OTC Dual Listing will also provide greater exposure for clinical studies (universities, hospitals, research centres) as Creso prepares to enter into the lucrative psychedelic market
- Initiative follows considerable interest from a large range of US investors
- Move comes amid continued upturn in cannabis and psychedelics sectors
- OTCQB listing provides additional opportunities to attract institutional and retail investors and for Creso to expand its investor base in the US
- Listing provides easier comparisons to US and Canadian listed peers operating in the cannabis and psychedelic medicines sectors
- Once obtained, DTC approval will simplify trading and enhance liquidity for North American investors
Creso Pharma Limited (ASX:CPH, FRA:1X8, OTC: COPHF) (‘Creso Pharma’ or ‘the Company’)is pleased to advise that it has successfully completed a dual listing on the OTCQB (“OTC”) market in the USA and will commence trading on Friday, 11 June 2021 (USA OTC Market Time) under the code COPHF. The decision to progress the US dual listing follows growing interest from North American investors, following major milestones for the Company including the proposed acquisition of Halucenex Life Sciences Inc. (“Halucenex”), strong sales growth of wholly-owned subsidiary Mernova Medicinal Inc. (“Mernova”) and the appointment of leading cannabis entrepreneur, Mr Bruce Linton. The dual listing will provide Creso Pharma with access to deeper capital markets and provide North American investors with accessibility and liquidity to invest in an established cannabis and psychedelics medicines business. This allows for a potential revaluation of the Company, in line with recent demand experienced by Creso Pharma’s North American peers. The Company is also taking steps to secure DTC approval, which would allow real-time electronic clearing and settlement in the United States for its ordinary shares through the Depository Trust Company (“DTC”). Online brokers such as Ameritrade, Fidelity Investments, Tradestation, Charles Schwab and E-trade all offer OTCQB trades.
Once obtained, the approval will simplify trading and enhance liquidity for a large pool of investors in North America, amid the continued upturn in the cannabis and psychedelic treatment sectors.
Non-executive Chairman Adam Blumenthal said: “The Company’s dual listing coincides with the growth Creso Pharma has achieved recently in the US and North America more broadly. Recently, we have been focused on laying a very strong foundation in the region, which is underpinned by the expansion of operations and key appointments that will provide a number of value catalysts for both Australian and North American investors.” “The cannabis and psychedelic medicines sectors continue to gain considerable momentum. Recent regulatory shifts have left the Company in a favourable position and Creso is well placed to become a global leader across both sectors.”“Creso has a number of near term revenue generating opportunities at hand and we look forward to providing ongoing updates to shareholders.”
Authority and Contact Details
This announcement has been authorised for release by the Board of Creso Pharma Limited.
For further information, please contact:
P: +61 2 8249 0000R
Released through: Ben Jarvis, Six Degrees Investor Relations: Ph: +61 (0) 413 150 448
About Creso Pharma Creso Pharma Limited (ASX:CPH) brings the best of cannabis to better the lives of people an animals. It brings pharmaceutical expertise and methodological rigor to the cannabis world and strives for the highest quality in its products. It develops cannabis and hemp derived therapeutic, nutraceutical, and life style products with wide patient and consumer reach for human and animal health. Creso Pharma uses GMP (Good Manufacturing Practice) development and manufacturing standards for its products as a reference of quality excellence with initial product registrations in Switzerland. It has worldwide rights for a number of unique and proprietary innovative delivery technologies which enhance the bioavailability and absorption of cannabinoids. To learn more please visit: www.cresopharma.com
Forward Looking statements
This announcement contains forward-looking statements with respect to Creso and its respective operations, strategy, investments, financial performance and condition. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Creso could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition and government regulation. The cautionary statements qualify all forward-looking statements attributable to Creso and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this announcement and Creso has no obligation to up-date such statements, except to the extent required by applicable laws