Biopharma company MGC Pharmaceuticals (ASX:MXC) has begun trading on the OTCQB® Venture Market in the United States.
The OTCQB Venture Market is operated by OTC Markets Group and is for early stage and developing companies. MGC is trading under the ticker symbol MGCLF.
MGC produces medicinal cannabis-based products for medical markets in North America, Europe, and Australia. The listing will provide MGC with an enhanced investor profile, and increases its exposure to international markets.
In particular, the medicinal cannabis market is well established in North America and the listing provides MGC with strategic positioning in the region.
Roby Zomer, CEO of MGC Pharmaceuticals, said: “North America is home to some of the largest investors in the medicinal cannabis sector and it is important for us to be able to access those investors.”
The listing also provides the business with the additional credibility of trading on a US-based platform.
“Trading on the OTC market is a landmark achievement for the Company as it supports our growth strategy of generating increased exposure across international markets,” said Mr Zomer.
MGC also has European operations, with its Good Manufacturing Practice-certified manufacturing facility in Slovenia and the Czech Republic. It will also shortly commence building its production and cultivation facility in Malta.
The business hopes that its OTC venture market listing will help to accelerate international growth beyond Australia and Europe.
“We are focussed on growing the business beyond our Australian listing and European operations and this provides us with a platform to launch this growth in the US.”
MGC joins the 10,000+ early-stage companies trading on OTCQB’s platforms.
This content is produced by Star Investing in commercial partnership with MGC Pharmaceuticals. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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