This morning, CannaPharmaRx, Inc. (OTC:CPMD) announced that the company has successfully filed all of the company’s required financial statements with the B.C. Securities Commission and the Alberta Securities Commission.
What it Means for CannaPharmaRx
This means that CannaPharmaRx is one step closer to fulfilling the necessary requirements to have a dual listing for its stock in Canada. While shares of CPMD currently trade on the OTC Pink market here in the United States, a dual listing may bring more interest and a wider investor base to the company if it were to have a listing on the CSE.
This may happen sooner than you think. According to the release, “CannaPharmaRx is in the process of completing an application to list its common stock on the Canadian Stock Exchange with initial trading anticipated to being during the second quarter of 2019.”
“Companies use dual listing because its benefits, such as additional liquidity, increased access to capital,” according to Investopedia. CannapharmaRx, Inc. Chief Executive Officer Dominic Colvin commented:
“We are pleased to complete a step toward the Company’s eventual dual listing in both Canada and the United States. Though there will be much more to do, the filing of the financial statement is a first step for CannapharmRX Inc. Our objective is to maximize shareholder value and management believes that by reporting and eventually trading in Canada, along with the United States, will bring the highest access to capital and shareholder value.”
Once completed, this dual-listing structure will allow CannaPharmaRx access to the financing it needs for its capital-intensive growth strategy.
CannaPharmaRx’s Acquisition and Development Strategy
CannaPharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities located in Canada.
CannaPharmaRx recently completed an initial acquisition of a 48,500 square foot cannabis cultivation facility presently under development and is currently in discussion with other companies regarding potential acquisitions or business combinations.
CannaPharmaRx’s business strategy is to become a leader in high quality and low-cost production of cannabis in Canada through the development, acquisition, and enhancement of existing facilities. CannaPharmaRx is presently targeting acquisitions of companies in the final stages of obtaining cannabis licensee applications or those which are nearing revenue generation.
CannaPharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.
Now that financial statements have been filed with the B.C. Securities Commission and the Alberta Securities Commission, we’ll be waiting for next steps towards trading on the Canadian Securities Exchange. In the meantime, be sure to subscribe to updates here so you never miss an important development.
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