FSD Pharma To Begin Trading On The NASDAQ Capital Market Under Symbol ‘HUGE’ January 9, 2020

FSD Pharma

CANADA: FSD Pharma Inc. today announced that its Class B Subordinate Voting Shares (the “Shares”) have been approved for listing on the NASDAQ Capital Market under the symbol ‘HUGE’. Trading on the NASDAQ is expected to commence at market open on Thursday, January 9, 2020.

The Company’s Shares will continue to be listed on the Canadian Securities Exchange under the symbol ‘HUGE’.

“As we announce this much anticipated and coveted milestone, I want to congratulate the FSD Pharma team, our stakeholders, and, most importantly, our shareholders. I also want to extend my gratitude to the members of the Board of Directors of FSD Pharma, and especially to the founders of the Company, for their vision and for giving me an opportunity to lead the FSD Pharma team to achieve this strategic advantage. It is exciting to realize that once we begin trading on NASDAQ, we will be included in a select group of 12 Canadian-domiciled cannabis companies trading on either the NYSE or NASDAQ, and the first company in the history of the Canadian Securities Exchange to be dual-listed on a major U.S. exchange,” stated Raza Bokhari, MD, Executive Co-Chairman and CEO.

 

POSaBIT Begins Trading On The Canadian Securities Exchange

CANADA: POSaBIT Systems Corporation, a leading financial technology company delivering unique blockchain-enabled payment processing and point-of-sale systems for cash-only businesses with a focus on the cannabis industry, today announced that following the completion of its reverse takeover transaction it has begun trading on the Canadian Securities Exchange (CSE) under the ticker “PBIT”.

“This is a significant achievement for POSaBIT and we are proud to make this important transition from the private to the public markets,” said Ryan Hamlin, co-founder and CEO of POSaBIT. “The past year has been an exciting one for the company, marked by a series of milestones. We continued to expand geographically in the California, Colorado and Washington markets, successfully completed the acquisition of DoubleBeam, and rolled-out a fully-integrated POS and payments platform that fulfills an unmet need in the cannabis industry. Our service is now in use at over 120 cannabis merchants across various US states. We are pleased with our traction in the market, as demonstrated by our strong year-to-date growth, and are very encouraged by the continued momentum we saw as we closed out 2018.”

2018 Corporate Milestones

  • For the nine months ended Sept. 30, 2018, the Company generated USD $1.39 million in revenue (with cost of sales of USD $1.4 million), a 266% increase over the prior year comparable period (and an increase in cost of sales of 226% over the prior year comparable period).
  • The Company expanded its footprint in California, Nevada, Oklahoma, Colorado and Washington.
  • In February 2018, POSaBIT completed the acquisition of DoubleBeam, which specializes in POS payment processing for the Hospitality sector.
  • The Company enhanced its payment service offering by developing incremental features to sell and accept both Litecoin and Bitcoin for purchases, as well as perform EMV card compliance on debit card transactions – helping merchants navigate complex payment requirements.
  • POSaBIT designed and released a new front-end POS console that is uniquely suited for cash-only merchants such as the Cannabis industry. This entirely new console offers an array of key features, including loyalty programs, in-store digital menus, online ordering / in-store pickup, inventory management, state seed-to-sale compliance, and customizable discounts.
  • POSaBIT also completed all of the necessary state requirements to support the Leaf system, a seed-sale track and trace software system used by regulators in the State of Washington.
  • The Company moved its corporate headquarters to a larger location in Kirkland, WA, which will support continued growth and expansion plans.
  • Pursuant to private placement financings undertaken in conjunction with the listing, POSaBIT generated gross proceeds of $1.3M.

“We believe our all-in-one payment and POS solution provides a unique and compelling offering that enables cash-only businesses, like those typical to the cannabis industry, to provide their consumers with an alternative to cash, while still satisfying retail customer experience expectations,” Hamlin added. “We believe the cannabis industry represents a large and growing opportunity for our offerings. With the successful completion of our listing on the CSE, we are pleased to have the additional capital needed to accelerate our growth in this rapidly expanding market. Our solution fills an unmet need, enables merchants to remain compliant in a highly regulated industry, and drives sales. We think this is a winning combination that will fuel our growth in 2019.”

POSaBIT was founded and incorporated in 2015 and is led by a team of executives with deep expertise across the technology space. POSaBIT Co-founder and CEO Ryan Hamlin brings over 27 years of software development, management experience, and entrepreneurship, including founding PlaceFull in 2011 and holding former leadership posts at Microsoft and MSN. Co-founder Jon Baugher heads up sales execution, revenue growth, and customer success utilizing his 28 years of global hardware and software technology sales experience. Full biographical information for the leadership is available here.

 

FSD Pharma Achieves Over 4 Billion Shares Traded In First 6 Months

CANADA:  FSD Pharma announced today that the Company has traded over four Billion Class B subordinate voting shares in its first six months of trading on the Canadian Securities Exchange. During the period of May 29, 2018 to November 29, 2018, the Company traded exactly 4,041,346,300 Class B subordinate voting shares on the CSE. This is the largest total quantity of share volume ever traded by a CSE listed issuer within one year of consecutive days of trading as confirmed by the CSE.

The Company wishes to again thank all its shareholders and stakeholders for their support to date, which has resulted in another record-breaking launch into the Canadian cannabis marketplace.

PotNetwork Holdings Prepares To List On Canadian Securities Exchange

FLORIDA: PotNetwork Holdings has announced today that it is preparing to list its common stock on the Canadian Securities Exchange operated by CNSX Markets Inc. The Company has engaged Canadian securities counsel to assist with the listing process. A CSE listing will allow the Company’s common stock to be dual listed in both U.S. and Canada.

PotNetwork HoldingThe application for a listing on the CSE will follow the Company’s transition to becoming a fully reporting Company with the SEC once its recent Form 10 filing becomes effective. The Company also intends to complete an uplisting to the OTCQB market tier on OTC Markets.

Kevin Hagen, CEO, stated, “Public attitudes around the world towards CBD are shifting as a result of people and regulators understanding the benefits of CBD. Cannabis-based products, in general, are experiencing explosive growth and we have begun an aggressive expansion of our business to further drive the growth of the Company into 2019. Integral to that expansion, is our decision that the time is right to list our stock on the Canadian market. The CSE already lists many companies in our industry, making this move an extremely logical choice that we believe will significantly benefit both the Company and its shareholders, across two countries instead of one.”

Acreage Holdings Closes $119 Million Private Round – Largest In U.S. Cannabis History

Company Announces Completion of Roll-up and Plans for Public Listing on Canadian Securities Exchange for Q3 2018

NEW YORK: Acreage Holdings, one of the United States’ largest vertically integrated multi-state cannabis operators,  announced it has successfully closed its Series E funding round. The Company secured $119 million of capital and concurrently completed the rollup of control positions in several U.S. states. The proceeds raised will be used to prepare the company for its impending public listing.

“The response we received from our investor partners was profoundly encouraging. The combination of monies raised and the rollup cements Acreage as one of the best capitalized companies in the industry with a footprint that is second to none,” Kevin Murphy, founder and CEO of Acreage Holdings said. “This gives us an exceptionally strong investment proposition to bring into the public markets in our upcoming listing.”

It is believed that the $119 million raised represents the largest private funding raise in U.S. cannabis history. Acreage currently owns or operates licenses in 13 states and plans to use the monies raised to acquire additional licenses, brands and other properties to increase its reach, breadth of offerings and depth of management team. Acreage intends to list the Company this fall on the Canadian Securities Exchange (the “CSE”).

“We are planning on listing on the CSE for many reasons, including the positive reception that the Canadian institutional investment community has shown to the U.S. cannabis industry and to Acreage in particular.  Additionally, the CSE has become the exchange of choice for U.S. companies like ours,” Murphy continued.  “The liquidity on the CSE is incredibly attractive to Acreage, and we know that retail investors in the U.S. have become comfortable with that exchange. We expect to see a tremendous response to our offering this fall.”

“Our objective with our investors is to set the standard in terms of professionalism and competency in order to remove as much risk from cannabis investing as possible,” said George Allen, the President of Acreage Holdings. “It is a mission that will remain paramount to us as we transition from a private to a public investor base.”

MedMen Begins Trading On The Canadian Securities Exchange

CALIFORNIA: MedMen Enterprises began trading today (5/29/18) on the Canadian Securities Exchange under the ticker symbol “MMEN.” 

With more than 800 employees and 18 licensed facilities in California, Nevada and New York, MedMen is one of the fastest growing companies in the quickly evolving U.S. cannabis industry. The three states where MedMen currently operates account for about half of the addressable cannabis market in the U.S. State-sanctioned cannabis sales in the country are estimated at about US$7 billion annually and expected to reach US$75 billion by 2030, according to the Cowen Group.

Leading Cultivator, Producer and Retailer of State-Sanctioned Cannabis Now Accessible to Public Equity Investors

Leading Cultivator, Producer and Retailer of State-Sanctioned Cannabis Now Accessible to Public Equity Investors

“MedMen’s vision is simple but revolutionary: cannabis as a consumer product,” said MedMen Co-founder and CEO Adam Bierman. “For the better part of a decade we have been singularly focused on that vision – creating the systems and infrastructure that raise the bar on product quality and safety and providing a retail shopping experience that is second to none. By going public, MedMen gives investors a ground-floor opportunity to participate in the enormous and untapped potential of the fastest growing industry in the United States.”

The listing follows the successful completion of a reverse takeover of a Canadian public company by U.S.-based MM Enterprises USA, LLC. In connection with this reverse takeover and the listing on the CSE, the Company raised approximately CA$143 million, or US$110 million, through a private placement at an implied enterprise valuation of CA$2.14 billion, or US$1.65 billion. Executives of MM Enterprises USA, LLC were appointed as officers of the public company and the public company was renamed MedMen Enterprises Inc.

“We are making marijuana mainstream by making it okay for soccer moms and middle-aged professionals to use cannabis products,” said MedMen Co-founder and President Andrew Modlin, the creative force behind MedMen and the first cannabis professional to win the prestigious American Marketing Association’s Emerging Leaders Award. “People are using it for ailments, for wellness or to just relax or socialize with friends. Medical marijuana is legal in 29 states, adult use is now legal in nine. Medical use is legal in Canada and adult use is expected to be legal by year’s end. We are marching steadily toward a future where buying and using cannabis products will be just as normal as buying wine or beer.”