Oxford Cannabinoid Tech.Holdings Admission to Trading on the US OTC QB Market (1730U)
December 01 2021 - 2:00AM
UK Regulatory
TIDMOCTP
RNS Number : 1730U
Oxford Cannabinoid Tech.Holdings
01 December 2021
01 December 2021
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or "the Company")
Admission of Ordinary Shares to trading on the US OTC QB
Market;
Dual trading to provide more efficient access for US
investors
and increased liquidity for all shareholders
Oxford Cannabinoid Technologies Holdings plc ("OCTP" or the
"Company"), the holding company of Oxford Cannabinoid Technologies
Ltd ("OCT")(together, the "Group"), a pharmaceutical company
developing prescription cannabinoid medicines for approval by key
medicines regulatory agencies worldwide and targeting the U$
multi-billion pain market, is pleased to announce that the
Company's Application for its shares to be traded on the OTC QB
Market, the mid-tier OTC Equity Market in the United States ("the
US") has been approved. Trading in the Company's Ordinary Shares
will therefore commence at the market open today under the ticker
symbol "OCTHF".
The Company believes that dual trading of its shares on the
London Stock Exchange's Main Market and the US OTCQB market will
provide enhanced investor benefits, including easier access to
trading for investors based in the US and increased liquidity
provided by a broader pool of potential investors.
The ability to trade in the Company's existing Ordinary shares
on the LSE's Standard List will not be affected by having the OTCQB
trading facility and no new shares have been issued. OTCP will
continue to make announcements and disclosures to the London Stock
Exchange through the Regulatory News Service.
Commenting on the US Trading Approval, OTCP Chief Executive, Dr
John Lucas, said: "We are delighted to see the commencement of dual
trading in the Company's shares today, marking another significant
corporate milestone for OTCP. It will increase liquidity and
significantly enhance the ability of US-based investors to access
and trade OCTP shares. In the coming months, OCTP's management team
will be placing additional emphasis upon increasing our outreach
efforts to US-based institutional and retail investors and widening
our shareholder base."
Jason Paltrowitz, Executive Vice President of Corporate Services
at OTC Markets Group, added: "We are pleased to welcome Oxford
Cannabinoid Technologies to the OTCQB Market. Trading on OTCQB
provides today's biomedical companies the ability to prioritize
transparency through disclosure and provide investors with an
efficient trading experience. We appreciate the efforts of Harbor
Access in their role as OTCQB company sponsor."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
The Directors of the Company accept responsibility for the
content of this announcement.
Enquiries:
Oxford Cannabinoid Technologies +44 (0)20 3034 2820
Holdings plc john@oxcantech.com
Dr John Lucas (CEO) clarissa@oxcantech.com
Clarissa Sowemimo-Coker (COO)
Cairn Financial Advisers
Emily Staples +44 (0)20 7213 0897
Jo Turner +44 (0) 20 7213 0885
Walbrook PR Limited +44 (0)20 7933 8780
Paul Vann/Nick Rome +44 (0)7768 807631
Nicholas Johnson oxcantech@walbrookpr.com
Harbor Access LLC
Richard Leighton/Jonathan Paterson +1 (475) 455 9403
Richard.Leighton@HarborAccessllc.com
About Oxford Cannabinoid Technologies Holdings Plc :
Oxford Cannabinoid Technologies Holdings plc is the holding
company of Oxford Cannabinoid Technologies Ltd, a pharmaceutical
company developing prescription cannabinoid medicines for approval
by key medicines regulatory agencies worldwide and targeting the U$
multi-billion pain market (together the "Group"). Cannabinoids are
compounds found in the cannabis plant that have been shown to have
a range of therapeutic effects on the body, including pain relief.
The Group has a clearly defined path to commercialization, revenues
and growth. The Group is developing drug candidates through
clinical trials to gain regulatory approval (FDA/MHRA/EMA) that
will enable medical professionals to prescribe them with
confidence.
The Group's portfolio aims to balance risk, value and time to
market, whilst ensuring market exclusivity around all its key
activities. The Group's lead compound, OCT461201, is a highly
potent and selective CB2 agonist and is being developed by OCT in a
solid oral dosage form. OCT is conducting pre-clinical testing and
development with pre-clinical trials scheduled for 2022. The
Group's product pipeline also uses a balanced drug product strategy
that employs both natural and synthetic compounds for the treatment
of rare diseases and includes chemically modified phytocannabinoids
with improved drug-like characteristics and a proprietary library
of cannabinoids.
OCTP operates a partnership model with external academic and
commercial partners, including the University of Oxford.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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