CLS Holdings USA Announces Up-Listing to OTCQB Marketplace
Upgrades Financial and Corporate Disclosure
BOULDER, CO / ACCESSWIRE / July 22, 2015 / CLS Holdings USA, Inc. (OTCQB: CLSH), a diversified cannabis company, has successfully up-listed to the OTCQB Marketplace. CLS stands for "Cannabis Life Sciences", as the Company has developed a proprietary method of extracting various cannabinoids from the marijuana plant and converting them into higher quality and quantity. The Company's mission is to be the industry leader in the extraction, conversion and marketing of cannabinoid oils, wax, edibles and shatter by leveraging our extraction methods and conversion processes.
"Following our recent completion of the reverse merger and attaining a public listing, we quickly followed through with our intention to up-list to the OTCQB," said Jeff Binder, Chairman, President and Chief Executive Officer of CLS Holdings USA. "CLS Holdings USA is committed to the high level of financial and corporate disclosure that is required for this listing category, which demonstrates our continued commitment to our shareholders. We believe that trading on the OTCQB will raise the visibility of the Company, enhance trading liquidity, and broaden our shareholder base as we move forward with continued market acceptance and penetration of proprietary technology into the marketplace."
"This milestone opens the doors to institutional investors and market makers who were not previously able to buy and sell shares of our Company. Now they may execute on unsolicited orders and also make recommendations to clients as they so choose. It also now gives individual investors an ability to trade shares of our Company. Meeting the increased compliance and information requirements of OTCQB provides our investors greater confidence in the information disclosed by the Company and ensures our commitment to accountability and transparency. We will continue working towards our goals of uplisting in the future to a stock exchange such as the NASDAQ in the future," added Jeff Binder.
In 2014, OTC Markets Group introduced standards and eligibility requirements for OTCQB with the goal of making it a better venture marketplace. To be eligible, companies must be current in their reporting to a U.S. or foreign regulator, pass a minimum bid price test of one penny ($0.01) and undergo an annual verification and management certification process providing additional information about the company's insiders, advisors and share count. Companies that are approved to trade on OTCQB receive access to additional premium services to help them build visibility and improve transparency for investors.
About CLS Holdings USA, Inc.
CLS Holdings USA, Inc. is a diversified cannabis company, specializing in the extraction and conversion of cannabinoids. CLS stands for "Cannabis Life Sciences", as it maintains a proprietary method of extracting various cannabinoids from the marijuana plant and converting them into higher quality and quantity. CLS Holdings USA business model includes licensing operations, processing revenue, processing facilities, sale of products and brand creation and consulting services.
For more information, check out: http://www.clsholdingsinc.com
Forward-Looking Statements. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Form 8-K filed on April 30, 2015, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.
Chairman and CEO
SOURCE: CLS Holdings USA, Inc.
Released July 22, 2015