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Pharmagreen Submits Its Application for Uplisting to the OTCQB Venture Market
Pharmagreen Submits Its Application for Uplisting to the OTCQB Venture Market.
About this update from Pharmagreen Biotech Inc.
[{"type":"text","content":"\n CARSON CITY, NV, Nov. 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Pharmagreen Biotech, Inc., (OTC PINKS: PHBI), a specialized tissue cultured starter plantlet production company, targeting the CBD Hemp and Cannabis Industries, is pleased to update its shareholders that it has submitted its application to up list to the OTCQB Venture Market. The company's management believes uplisting its common stock to the OTCQB will serve to improve the company's position in the public markets and substantially increase its visibility to a wider range of investors. The OTCQB Venture Market is operated by OTC Markets Group Inc. and is designed for developing and entrepreneurial companies in the U.S. and abroad. To achieve and maintain an OTCQB listing, companies are required to be current in their financial reporting, among other requirements. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. Importantly, the OTCQB is recognized by the Securities and Exchange Commission as an \"established public market\" providing public information for analysis and value of securities. PHBI has been current with audited statements since 2018. \"Uplisting to the OTCQB, with it being an SEC-recognized established public market, would, in our view, provide greater visibility within the investment community, including institutional investors, and an increased opportunity for greater trading volumes and liquidity for our shareholders. Uplisting to the OTCQB is an important milestone in the Company’s history,” concluded Peter Wojcik. The listing of PHBI's common stock on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. The company satisfies the published standards for uplisting to the OTCQB Venture Market. Available statistics indicate that an uplisting from the OTC Pink to the OTCQB can be expected to yield (1) an increase of U.S. shareholders beginning in the first year following uplisting; (2) improved trading volumes and liquidity and (3) an improvement in share price performance. In addition, an uplisting to the OTCQB serves to increase a company's public profile and overall reputation, create better information flow about the company and deliver greater insight into who a company's shareholders are. P...