MONTRÉAL, Feb. 11, 2019 /CNW/ - Cannara Biotech Inc. ("Cannara Biotech" or the "Company") (CSE: LOVE) (FRA: 8CB), a vertically integrated cannabis company focused on cultivation and cannabis-infused products, today announced its common shares are listed for trading on the Frankfurt Stock Exchange under the trading symbol "8CB". The Company's common shares continue to be listed on the Canadian Securities Exchange under the trading symbol "LOVE".
The Frankfurt Stock Exchange is the tenth largest stock exchange in the world by market capitalization and third largest in terms of volume. It is Germany's largest stock exchange.
"No doubt the world is becoming keenly interested in the global cannabis industry, and much of that enthusiasm and attention is turning towards Canadian companies who are at the forefront of innovating and leading this sector," said Zohar Krivorot, President and CEO of Cannara Biotech. "For Cannara Biotech, whose vision is to be a premium global cannabis company, this international listing will enable us to broaden our shareholder base, while allowing international investors to participate in our growth."
The Canadian cannabis market is forecasted at $5.2B in year one of legalization and is expected growth of 20% annually to reach $10.8B in five years.
About Cannara Biotech Inc.
Cannara Biotech is building one of the largest indoor cannabis cultivation facility (625,000 square foot) in Canada and the largest in Quebec. Leveraging Quebec's low electricity costs, Cannara Biotech's facility will produce high-grade indoor cannabis and cannabis-infused products for the Canadian and international markets. Most recently, the Company entered the U.S. CBD-hemp market with an online eCommerce platform called shopCBD.com, which will also make the Company an aggregator of U.S. CBD-hemp products. For more information, visit our website: www.cannara.ca
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Cannara Biotech Inc.
For further information: Sabrina Williams, Communications Manager, [email protected], T: 514-543-4200 ext. 265; Zohar Krivorot, President & CEO, [email protected]; Lennie Ryer CPA, CA, CFE, Chief Financial Officer, [email protected]