VANCOUVER, Aug. 13, 2019 /CNW/ - CannaOne Technologies Inc., (CSE: CNNA) (FRANKFURT: 3CT) (OTC: CNONF) ("CNNA" or the "Company"), is pleased to announce that its common shares have been approved for trading onto the OTC Markets, a US trading platform that is operated by the OTC Markets Group in New York. Effective immediately, the Company will commence trading on the OTC Markets under the symbol "CNONF". The Company's common shares will continue to trade on its primary market, the Canadian Stock Exchange ("CSE") under the symbol "CNNA".
In addition, the Company is pleased to announce that it has received DTC eligibility by The Depository Trust Company ("DTC"), a subsidiary of the Depository Trust & Clearing Corporation ("DTCC"). Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers reducing transactional costs for participating brokerage firms, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. DTC provides depository and book entry services, along with a settlement system for equities in the United States and across the globe. The organization is a member of the U.S. Federal Reserve System and a registered clearing agency with the U.S. Securities and Exchange Commission. In addition, major U.S. stock exchanges, including Nasdaq and NYSE, require DTC eligibility to be listed on the respective exchanges.
"Receiving DTC eligibility and approval for listing and trading to the OTC market is an important step forward that expands CannaOne's potential investor base in the United States," said Solomon Riby-Williams, CEO. "Given the strong foundation we have laid and the continued execution of our growth strategy, with the recent launch of the BWell online marketplace in the United States, we look forward to continuing to introduce our unique story to additional investors in 2019 and beyond."
About CannaOne Technologies
CannaOne Technologies is a software development and technology company that has developed its own proprietary online E-Commerce Marketplace solution linking the rapidly expanding industry to consumers. The company's first consumer product, BloomKit, is a software suite that delivers a complete online toolkit for a variety of applications for companies in the sector. CannaOne has already successfully launched one such marketplace, BWell (thebewellmarket.com), in the United States, facilitating the sale of a large selection of premium CBD products from numerous suppliers to consumers. The platform includes an infrastructure to build consumer engagement including an AI capacity to recommend products and fulfill orders.
Additionally, to date, CannaOne has secured several contracts and expects to launch marketplaces in Mexico and the UK marketplace. The company's vision is to provide comprehensive online solutions for the industry globally and is now well-positioned to provide providers, a premium, turnkey technology platform for their CBD products that not only supplies them with products, but educates and engages their community from the ground up.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The securities referred to herein will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CannaOne to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. CannaOne will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE CannaOne Technologies Inc.
For further information: Solomon Riby-Williams, Chief Executive Officer, [email protected], 604 - 559 - 8893