Qualification to trade on the OTCQX® Best Market is expected to offer greater visibility for the Company's shares and improved liquidity
New U.S. ticker symbol (PCLOF) aligned with Company's Canadian TSX Venture Exchange ("TSXV") ticker PCLO
DTC eligibility helps provide investors easy access and liquidity in all jurisdictions
TORONTO, Dec. 2, 2019 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV:PCLO, OTCQX: PCLOF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., is pleased to announce that the Company has qualified to trade on the OTCQX® Best Market in the United States and secured Depository Trust Company ("DTC") eligibility. PharmaCielo's shares were previously traded on the OTC Markets' Pink® Market under the ticker "PHCEF" and have begun trading today on the top tier OTCQX® Best Market under an updated ticker symbol of "PCLOF".
"Having our shares traded on the top-tier of the OTC Markets in the U.S. is a testament to PharmaCielo's successful transition from the start-up phase into a mature medicinal cannabis company with robust operating infrastructure," said David Attard, CEO of PharmaCielo Ltd. "Being traded on the OTCQX Market is expected to provide PharmaCielo with greater visibility for U.S. and international investors who are looking for opportunities to participate in the burgeoning global medical cannabis industry. In addition, DTC eligibility will provide added convenience to U.S. investors, brokers and institutions."
PharmaCielo's common shares continue to trade on the TSX Venture Exchange under the symbolTSXV: PCLO.
DTC Eligibility DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC eligibility enables easier trading and transferring of the Company's common shares between brokerages in the U.S. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investors.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
PharmaCielo Ltd. (TSXV:PCLO, OTCQX:PCLOF) is a global company, headquartered in Canada, with a focus on ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo's principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its nursery and propagation centre located in Rionegro, Colombia.
The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia's ideal location will play in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.