Business
Citrine Global, Corp. Applies to List its Common Stock on Nasdaq
Citrine Global, Corp. Applies to List its Common Stock on Nasdaq.
About this update from Citrine Global Corp.
[{"type":"text","content":"\n Tel Aviv, Israel, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Citrine Global, Corp. (OTCQB: CTGL) is pleased to announce that it has applied to list its common stock on the Nasdaq Capital Market. The proposed listing on Nasdaq is subject to several regulatory requirements and a determination by Nasdaq that the company has satisfied all applicable listing requirements, including, but not limited to, shareholder’s equity requirements, a sufficient price per share and a sufficient number of round lot holders. There is no guarantee that the Company will be successful in obtaining the necessary approvals to list its common stock on Nasdaq. Until such time as such Nasdaq approval for listing is obtained, the common stock will continue to trade on the OTCQB under \"CTGL\". As part of the company's preparations to meet the Nasdaq listing requirements, on October 8, 2020, the board of directors approved a reverse stock split of the company's authorized, issued, and outstanding shares of common stock, subject to stockholder approval, with the final ratio of this step to be determined by the board at a later date. We believe that the requested listing on Nasdaq is a strategic stage in Citrine Global's growth targeted to potentially enlarge the company's investor base and establish its position as a global brand. Citrine Global remains focused on executing the company's strategic business plan creating value for its stockholders. About Citrine Global Corp. Citrine Global, Corp. provides industry-wide solutions for innovative technologies, empowering the healthcare and wellness eco-systems to prosper by offering solutions and creating environments that inspire progress and growth. The multi-strategy solutions include financing, entrepreneurship, and business real-estate facilities. Citrine Global, Corp. operates in the Israeli market via its subsidiaries CTGL - Citrine Global Israel Ltd. and Cannovation Center Israel Ltd., targeting the Israeli healthcare, wellness, food tech and medical cannabis industries. The Cannovation Center business model is a unique, all-in-one platform, which is planned to have factories for producing medical cannabis, hemp, and botanical products; laboratories for production, research and development and clinical trials; and recycling, logistics, and an import/export distribution center. It is designed to support th...