Company selects NEO as senior stock exchange of choice to access wider investor base and enhanced liquidity
NEO is pleased to announce it has granted final approval to Medcolcanna Organics Inc. (“ Medcolcanna,” “MCCN” or the “Company”), a vertically integrated Canadian cannabis company, to graduate to the NEO Exchange, following a voluntary delisting from the TSX Venture Exchange. Medcolcanna will begin trading today on the NEO Exchange under the symbol NEO:MCCN .
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Founded in 2018, Medcolcanna believes in the healing power of cannabis and uses proprietary scientific formulas to deliver effective and accessible products to consumers around the world. MCCN has developed brands in a range of consumer verticals, including cosmetics, nutraceuticals, and Active Pharmaceutical Ingredients (API), boasting a capacity of 300 tons of dry flower processing per year – one of the largest extraction capacities of any licensed cannabis producer in Colombia. With fully licensed operations just outside of Bogota, Medcolcanna’s strategically located facilities enable optimal cultivation and production conditions while leveraging the low-cost structure in Colombia to expand its footprint in high value markets.
“This is a big day and an important milestone for Medcolcanna,” says Felipe de la Vega, CEO & Founder of Medcolcanna. “Having launched on the TSXV in May of 2019, we are now ready and excited to graduate to a senior exchange so we can better execute our aggressive growth strategy. We chose the NEO Exchange because they understand the complex needs of our business and industry. Their level of service has been indispensable in helping us reach this milestone. Through NEO, we expect to gain greater exposure to a wider investor base, increased access to capital, enhanced liquidity, and a true partner for the long term.”
With plans underway to enter the US market with low-cost cannabinoid raw materials in 2021, Medcolcanna has already developed a strategic network of pharmaceutical partnerships and other assets across the value chain to secure a leadership position in the global medicinal cannabis market. The company announced in July it had entered into a distribution and profit-sharing agreement with Greenstein Trading Ltd, a subsidiary of Greenstein Capital Ltd, to accelerate its strategic entry into the European cannabis market. Additionally, Medcolcanna SAS, a wholly-owned subsidiary of the company, recently announced a joint venture with Grupo Curativa SAS to distribute MCCN’s proprietary formulations to an extensive group of patients through Curativa’s network of doctors, starting this month.
“Medcolcanna is well-positioned to accelerate their growth in revenue and market share, both in Colombia and internationally,” commented Jos Schmitt, President and CEO of NEO. “By listing on the NEO Exchange, they’ll benefit from enhanced liquidity, greater visibility and investor awareness, a better experience for their investors, and exceptional service and support. Their strategic decision to graduate to the NEO Exchange is a testament to our relentless drive to deliver results, do what is right for capital raisers and investors, and champion the success of our issuers. We are honoured to be Medcolcanna’s senior stock exchange of choice, and look forward to working with them over the years to come.”
Investors can trade shares of NEO:MCCN through their usual investment channels, including discount brokerage platforms and full-service dealers. Click here to register for the October 29 th Q&A session with Medcolcanna to learn more about their unique value proposition and aggressive plans for growth.
The NEO Exchange is now home to 100 corporate and ETF listings, and consistently facilitates 12 per cent of all Canadian trading volume. Click here for a complete view of all NEO-listed securities.
About Medcolcanna Organics Inc.
Medcolcanna is a Canadian integrated medical cannabis company, with fully licensed operations based in Colombia. Led by a proven and successful management team, Medcolcanna has facilities in optimal growing locations which position the Company to become a global leader in the medical cannabis market. Medcolcanna employs state of the art organic agricultural technology and innovative pharmaceutical processes to produce high-quality products. The Company’s scalable production model and network of pharmaceutical partnerships globally ensures that they remain at the forefront of the medical cannabis industry.
Connect with Medcolcanna: Website | LinkedIn
About NEO Exchange
NEO Exchange is a progressive stock exchange that brings together investors and capital raisers within a fair, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
Connect with NEO: Website | Twitter | LinkedIn
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “ forward-looking statements ”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects,” or “does not expect,” “is expected,” “anticipates” or “does not anticipate,” “plans,” “budget,” “scheduled,” “forecasts,” “estimates,” “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals for any proposed transaction, including those discussed herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.
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Chris Reid, CFO
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