VANCOUVER, July 12, 2019 /CNW/ - Vapen MJ Ventures (OTCQX:VAPNF and CSE: VAPN) ("Vapen MJ") a fully integrated agricultural technology, services and property management company in the regulated cannabis industry and owner of the popular "Vapen" brand, today announced the quotation of its common shares for trading on the OTCQX® Best Market, under the symbol "VAPNF".
Vapen MJ's trading on the OTCQX Market comes as a result of an application and due diligence process including meeting certain financial metrics. Vapen MJ met the criteria and specifically having several years of audited profitable operations differentiated Vapen MJ from many other issuers in the cannabis sector.
Vapen MJ has also made an application for its common shares to be DTC eligible and will issue a press release when approved. Trading in Vapen MJ's shares may be impeded on the OTCQX only, until DTC eligibility is approved, due to possible broker-dealer settlement restrictions. Trades on the Canadian Securities Exchange will continue as usual.
Bob Brilon, president and chief financial officer of Vapen MJ Ventures, commented, "The OTCQX quotation will improve access for investors to trade Vapen MJ common stock, particularly in the United States, and help us build awareness with institutional and retail investors as we continue to expand the geographic presence of the Vapen brand and Vapen MJ as an investment opportunity."
Thai Nguyen, chief executive officer added, "Qualifying for the OTCQX Market is another milestone for Vapen MJ that adds value for our existing and future shareholders. We will continue to add value through our expanding operations."
About Vapen MJ Ventures
Vapen MJ, through its wholly-owned subsidiaries, currently operates in the US as an agricultural technology, services and property management company utilizing a full vertical integration business model to oversee and execute all aspects of cultivation, extraction, manufacturing (THC and CBD cartridges, concentrates, edibles), retail dispensary, and wholesale distribution of high margin Cannabis THC and Hemp CBD products under the Vapen Brand. Vapen MJ expansion plans include partnering with cannabis license holders and hemp farms in multiple states within the U.S.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Vapen MJ' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of Vapen MJ.
Although Vapen MJ has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; are engaged in activities currently considered illegal under U.S. Federal laws; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Vapen MJ disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Vapen MJ does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE Vapen MJ Ventures Corporation
For further information: Bob Brilon, President and CFO, T: 602-620-9725, [email protected]