CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities in Canada, announced today that the Company had begun the process of moving from the Pink Open Market to the OTCQB. The OTCQB Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process.
“We are excited about the possibility of advancing to the OTCQB from the Pink Open Market,” said Nick Colvin, CEO of CannaPharmaRx. “We believe that this list will further validate our presence as a publicly traded company. We have already been following most of the criteria for OTCQB eligibility, but we look forward to formally being listed as an OTCQB company. While there are no assurances that OTCMarkets will approve our application, we are working diligently to ensure that we meet all of the necessary requirements for approval,” added Colvin.
About CannaPharmaRx, Inc.
CannaPharmaRx is focused on the acquisition and development of state-of-the-art cannabis growth facilities located in Canada. CPMD owns a 48,500-square-foot cannabis growth facility presently under development and is currently discussing potential acquisitions with other companies. CannaPharmaRx’s business strategy is to become a leader in the high-quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannaPharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure we are a low-cost producer of cannabis. CannaPharmaRx is in the process of completing an application to list its common stock on the Canadian Stock Exchange, with initial trading anticipated to be during the third quarter of 2020.
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