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CBD company Real Brands Inc. (OTCPK: RLBD) has filed its application with the OTC Markets Group (OTC) as one of the final steps necessary to qualify for uplisting from the OTC Pink market to the OTCQB.
“Step by step, we are executing on the strategy that we have shared with our investors and shareholders,” Thom Kidrin, the company’s CEO, said. “The process for uplisting is very involved and requires extensive documentation and audits. This has taken longer than anticipated due to COVID 19-related delays beyond our control with government agencies, financial and legal reviews. With our submission completed, we now await the OTC’s review and approval.”
The middle tier of OTC Markets – OTCQB - is known as The Venture Market, which is just below the OTCQX, the top tier. To be eligible for OTCQB, companies must, in addition to other criteria, be current in their financial reporting and undergo an annual verification and management certification process. Over 900 companies trade on the OTCQB Market.
Real Brands’ initial primary business has been pharmaceutical grade cannabinoid extraction of CBD isolate and distillate as well as terpenes and minor cannabinoids, wholesaling of CBD oils and isolate, proprietary formulation, production, and sales of hemp-derived consumer brands.
The company has also made a strategic commitment to becoming a brand owner and has committed resources to developing proprietary branded product lines with novel formulations in order to distribute high-quality, low-cost, hemp-derived products such as topical creams and gels, cosmetics, tinctures, oils, capsules, vape cartridges, oral sprays and other products that contain hemp derivative distillate or isolate as well as other minor cannabinoids.
“Additionally, we expect to acquire and/or develop brands in which CBD and minor cannabinoids are complementary ingredients, and which are conducive to hemp-derived infusion or micro encapsulation, e.g. chocolates, cosmetics, edibles, drinks, sprays, tinctures, sub-lingual strips, cooking condiments, powders, vapes, etc,” Kidrin explained. “We anticipate uplisting to the OTCQB will help us in funding these endeavors as it provides us with greater credibility and exposure to a more sophisticated and discerning caliber of investors who appreciate the transparency afforded by the additional reporting requirements, as a larger float for ease of trading.”
Photo: Courtesy of Nicholas Cappello on Unsplash
Posted In: RLBD
