Green Growth Brands announces their successful listing with the OTCQB just weeks after announcing listing on the CSE. This announcement caps a ten month period that has seen the company undertake a number of bold, confident, steps toward building their vision of a new cannabis retail landscape.
Other companies might still be getting to grips with the financial ins and outs of operations within the first year, but in spite of a year packed with successful events, GGB managed to prepare and file all the required financial paperwork to get listed and they did it twice in two months, first on the CSE and then the OTCQB. An undertaking virtually unparalleled within the cannabis industry.
Throughout 2018 GGB has achieved consistently:
- Formed and began operations – February 2018
- Acquired Xanthic Biopharma – July 2018
- Acquired Nevada Organic Remedies – September 2018
- Completes upsized investment round of $63 million – September 2018
- Listed on CSE – November 2018
- Awarded seven retail cannabis dispensary licenses in Nevada – November 2018
- Acquired Just Healthy LLC – December 2018
- Acquired Henderson Organic Remedies, LLC – December 2018
- Listed on OTCQB – December 2018
The last two months alone have seen GGB acquire two new companies, expand their position in Nevada through new licenses (now one of the state’s biggest players), enter a new market in the form of Massachusetts, and list with two separate investment institutions.
Taking a company public and listing it on an exchange is a sign that the company is not only succeding in its business aims and is willing to be transparent about their financial setup but also has a proposition they think investors will buy into.
Most companies within the cannabis industry would have listed with the CSE and left it at that. For GGB though, listing on the OTC market was an essential step to take in order to connect with U.S. Investors who are trying to find more direct routes to invest in cannabis.
Being successfully listed on the OTCQB not only requires GGB have an offering that investors want to be a part of but that they also meet the initial, and continuing, financial requirements set down by OTC Markets.
As the QB market is focused on early-stage and developing U.S. and international companies, basic initial requirements such as a minimum bid threshold of $0.01, being up-to-date on reporting requirements and not being in some form of bankruptcy, are in place to ensure that the market entities are stable and are appealing to US investors. Listing criteria is strict as a way of ensuring quality for investors.
Between the previous listing with the CSE and this OTCQB listing, GGB is moving into more investor spaces, connecting with more cannabis investors across the US, not just those operating through the Canadian market, and spreading their message beyond the private investment landscape.
“Listing on the OTCQB will allow for greater engagement with our U.S. investor base. As we continue on our path to bring the best experience in cannabis retail and CBD to consumers. We will lean on the U.S. capital markets to support us through expansion” said Peter Horvath, CEO of Green Growth Brands.
A year in which a company acquires multiple other entities, enters multiple new markets, becomes a dominant entity in its initial market, goes public, lists with additional institutions, and has to raise the cap on investment rounds, is a good year by any reasonable standard. To achieve all this in your first ten months is incredible, and to do so in an industry that’s not much older than your company is a sign of something truly exceptional.