CannapharmaRx Plans to Move From the Pink Open Market to OTCQB16.6.2020
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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This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking information or statements”. Forward-looking information or statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
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