Become A Featured Company

Abattis Makes History as First Marijuana Stock to List on Prestigious OTCQX

Ryan Allway

July 15th, 2014

News, Top News

[stockchart symbol=ATTBF]

Abattis Bioceuticals Corp. (OTC: ATTBF) (CSE: ATT), a specialty biotechnology company focused on cultivating, licensing, and marketing proprietary products and services to the North American cannabis industry, added to its growing list of accomplishments by becoming the first cannabis stock to list on the prestigious OTCQX tier of the OTC Markets on Monday, July 14, 2014.

“Abattis Bioceuticals is dedicated to providing a high level of transparency to shareholders,” said Abattis Bioceuticals Corp. CEO Mike Withrow. “The OTCQX up-listing provides investors with increased transparency in financial reporting and disclosure and awareness of the company’s activities within the botanical drug and cannabis industry and inspires confidence within the investment community.”

Transparency & Access

The OTC Markets is home to nearly 10,000 securities that generate more than $350 million of daily trading volume. In addition, the exchange covers most U.S.-traded cannabis stocks with the notable exception of NASDAQ-traded GW Pharmaceuticals plc (NASDAQ: GWPH). A handful of other companies trade exclusively on Canadian stock exchanges like the Canadian Stock Exchange or Toronto Stock Exchange.

Within the OTC Markets, companies are divided up into various marketplaces depending on their transparency, financial strength and other factors. These marketplaces include OTC Pink for companies that don’t quality for OTCQX or OTCQB, OTCQB for venture-stage companies that are reporting but don’t quality for the OTCQX, and OTCQX for companies that meet high quality standards.

The OTCQX marketplace is for qualified, investor-focused U.S. and global companies that meet high financial standards, are current in their disclosure, and receive third-party advisory. According to OTC Markets, these companies are “distinguished by the excellence of their operations and diligence with which they convey their qualifications” making them both more reliable and safer for investors.

Foreign companies that list on the OTCQX marketplace include large-cap names like Adidas Group (OTCQX: ADDYY), Canadian Oil Sands (OTCQX: COSWF), and Roche Holdings (OTCQX: RHHBY), highlighting the marketplace’s prominence.

Stepping Stone for Up-Listing

The OTCQX is also commonly viewed as a stepping-stone for potential up listing to larger national stock exchanges, like the NYSE or NASDAQ. These national exchanges are important since many institutional investors are forbidden from buying OTC-listed companies due to their perceived risk profile. While the up listing from the OTCQB opened the doors a bit, a national listing could help even more.

Bio-Path Holdings Inc. (NASDAQ: BPTH), a biotechnology company focused on therapeutic products utilizing its proprietary liposomal delivery technology, is a prime example of an up listing from the OTCQX to the NASDAQ. In March of 2014, the company went from trading on the OTCQX to the NASDAQ and subsequently experienced new analyst coverage by Maxim Group and increased exposure.

Aside from the potential for an up listing to the NASDAQ or NYSE, Abattis Bioceuticals’ OTCQX listing affords it additional nearer term opportunities. For example, OTCQX blue-sky compliance enables financial advisors to discuss Abattis Bioceuticals as a potential investment opportunity for their clients. Each press release is also automatically sent to broker-dealers making markets in the stock.

In the end, the OTCQX listing opens a number of new doors for the company’s management team that could enable exposure to a greater number of investors and ultimately help generate long-term shareholder value.

Favorable Timing

Abattis Bioceuticals’ up listing to the OTCQX comes at a great time within its corporate history. Over the past couple months, the company has been rapidly advancing its diversified set of subsidiaries closer to commercialization, including its facilities seeking licensed producer status under Canada’s newly implemented MMPR and its laboratory testing facilities located within the U.S. market.

In June, the company leased a 16,200 square foot facility zoned for medical marijuana near Vancouver, British Columbia, with the potential to expand to up to 254,000 square feet. Several of its subsidiaries are in the late stages of the MMPR licensing process and management indicated that it continues to have an active dialogue with Health Canada as it works towards the approvals.

In Washington State, the company’s Phytalab subsidiary also stands to benefit from the initial tranche of 334 licenses being granted to dispensaries in the state to begin the sale of recreational marijuana. Abattis Bioceuticals also owns a 34% equity interest and 73% economist interest in Washington-based Instant Payment Systems LLC, which offers secure and comprehensive payment processing to the industry.

The company’s move to the OTCQX from the OTCQB comes at the perfect time with these near-term catalysts set to drive investor interest. With a great number of investors looking at the stock, the catalysts could have more of an impact on value.

More Information

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Network Partners

Follow Us on Social Media

LinkedIn

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading