Cannabis companies are continuing to adapt to this rapidly changing landscape for the industry. The latest updates come from MedMen Enterprises (OTCQX: MMNFF) and Marapharm Ventures (MRPHF).
MedMen Enterprises Inc. uplisted to trade on the OTCQX Best Market using its existing ticker symbol MMNFF effective today. “MedMen’s step up to the OTCQX will expand our U.S. investor base and provide strong capital markets support to drive our continued growth,” said Adam Bierman, MedMen chief executive, and co-founder. “The OTCQX market offers enhanced visibility and transparency, more efficient trading and increased liquidity for our investors. This is also reflective of the enormous progress we have made as an industry. U.S. cannabis companies are here to stay and we are creating jobs and wealth for generations to come.”
MedMen recently made a big splash with the decision to acquire PharmaCann in a deal valued at over $600 million. That deal will increase MedMen’s number of retail licenses to 67 and doubles the number of states where it has operations to 12.
“Trading on the premium OTCQX Market will enable MedMen Enterprises to more efficiently provide their investors with current information and transparency,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “We are pleased to welcome MedMen Enterprises and look forward to supporting the company as it builds long-term shareholder value.”
Marapharm Ventures Inc. (OTCQX: MRPHF) changed its name to “Liht Cannabis Corp.” The company’s common shares are expected to begin trading on the Canadian Securities Exchange under the new symbol “LIHT” on or about October 25th, 2018. Marapharm will keep its U.S. and European shareholders advised by the news release of changes to their market’s ticker symbol.
The new International Securities Identification Number (ISIN) for the outstanding common shares is CA5323511033 and the Committee on Uniform Security Identification Procedures (CUSIP) 53251103. For the tradeable common share purchase warrants, the CUSIP’s are 532351137, 532351111, 532351129 and ISIN’s are CA5323511371, CA5323511116 and CA5323511298.