Creso Pharma secures direct access to the world’s largest cannabis market with successful dual listing in the United States

Listing will provide Creso Pharma with access not only to deeper capital markets, but also to the rapidly growing North American cannabis industry.

The long-awaited dual listing of Creso Pharma (ASX: CPH) shares in the US has finally taken place, with the share expected to start trading on the OTCQB market from June 11.

The listing plan has been in the works for some time and is expected to unlock significant shareholder value and provide Creso with access to the world’s largest capital market.

The move was made in the wake of growing interest from North American investors, after the company saw strong sales growth from its wholly owned subsidiary Mernova and named Bruce Linton as one of the top cannabis entrepreneurs. , as a strategic advisor.

North American investors have also sought exposure to Creso after seeing significant progress made by its US acquisition target, Halucenex.

The dual listing will provide Creso with access to deeper capital markets, allowing its institutional and retail investors in North America to invest directly in an established cannabis and psychedelic drug business.

“The company’s dual listing coincides with the growth Creso Pharma has recently achieved in the United States and North America in general,” commented Adam Blumenthal, CEO of Creso Pharma.

“Recently, we have focused on building a very strong base in the region, which is underpinned by the expansion of operations and key appointments that will provide a number of value catalysts for Australian and North American investors. Americans. “

The dual listing will also provide greater visibility for clinical studies at universities, hospitals and research centers as Creso prepares to enter the lucrative psychedelic market.

Creso Pharma will trade under code COPHF.

Legislative rear winds

The entry into the US market aligns directly with Creso’s strategic perspective to expand its operations in the region.

It will also give the company the opportunity for a potential reassessment, as it offers analysts and investors an easier comparison with its US and Canadian peers operating in the cannabis and psychedelic drug industries.

The recent strong demand for cannabis in the region follows significant cannabis legislative changes in the United States.
The Marijuana Opportunity Reinvestment and Expungement (MORE) Act, for example, was recently reintroduced in Congress by US federal lawmakers, which would remove the federal cannabis ban.

The company is also gearing up to enter the California market, following the state’s passage of Senate Bill 519, which would legalize the use and possession of psilocybin and other psychedelic compounds.

If passed, SB 519 will approve the use of mushrooms, MDMA, LSD, mescaline and ibogaine for those eligible.

These recent developments have provided Creso and Halucenex with a major market opportunity in California and the United States.

The company intends to capitalize on these opportunities and has entered into discussions to advance partnerships and market entry strategies.

“The cannabis and psychedelic medicine sectors continue to gain traction,” the company said.
“Recent regulatory changes have left Creso in a favorable position, and it is well positioned to become a world leader in both sectors,” added Blumenthal.

Creso is also currently taking steps to gain approval from the Depository Trust Company (DTC), which would allow real-time electronic clearing and settlement in the United States for its common stock.

This decision will allow access to trading with major online brokers such as Ameritrade, Fidelity Investments, Tradestation, Charles Schwab and E-trade, all of which offer trading services in the OTCQB market.

This article was developed in collaboration with Creso Pharma, a Stockhead advertiser at the time of publication.

This article is not advice on financial products. You should consider getting independent advice before making any financial decisions.

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