Admission to Trading on the US OTC QB Market

RNS Number : 1730U

Oxford Cannabinoid Tech.Holdings

01 December 2021

 

01 December 2021

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or "the Company")

Admission of Ordinary Shares to trading on the US OTC QB Market;

Dual trading to provide more efficient access for US investors

and increased liquidity for all shareholders

Oxford Cannabinoid Technologies Holdings plc ("OCTP" or the "Company"), the holding company of Oxford Cannabinoid Technologies Ltd ("OCT")(together, the "Group"), a pharmaceutical company developing prescription cannabinoid medicines for approval by key medicines regulatory agencies worldwide and targeting the U$ multi-billion pain market, is pleased to announce that the Company's Application for its shares to be traded on the OTC QB Market, the mid-tier OTC Equity Market in the United States ("the US") has been approved. Trading in the Company's Ordinary Shares will therefore commence at the market open today under the ticker symbol "OCTHF".

The Company believes that dual trading of its shares on the London Stock Exchange's Main Market and the US OTCQB market will provide enhanced investor benefits, including easier access to trading for investors based in the US and increased liquidity provided by a broader pool of potential investors.

The ability to trade in the Company's existing Ordinary shares on the LSE's Standard List will not be affected by having the OTCQB trading facility and no new shares have been issued. OTCP will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Service.

Commenting on the US Trading Approval, OTCP Chief Executive, Dr John Lucas, said: "We are delighted to see the commencement of dual trading in the Company's shares today, marking another significant corporate milestone for OTCP. It will increase liquidity and significantly enhance the ability of US-based investors to access and trade OCTP shares. In the coming months, OCTP's management team will be placing additional emphasis upon increasing our outreach efforts to US-based institutional and retail investors and widening our shareholder base."

Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group, added: "We are pleased to welcome Oxford Cannabinoid Technologies to the OTCQB Market. Trading on OTCQB provides today's biomedical companies the ability to prioritize transparency through disclosure and provide investors with an efficient trading experience.  We appreciate the efforts of Harbor Access in their role as OTCQB company sponsor."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

The Directors of the Company accept responsibility for the content of this announcement.

Enquiries:

Oxford Cannabinoid Technologies Holdings plc Dr John Lucas (CEO) Clarissa Sowemimo-Coker (COO)	[phone] [e-mail] [e-mail]
Cairn Financial Advisers Emily Staples Jo Turner	[phone] [phone]
Walbrook PR Limited Paul Vann/Nick Rome Nicholas Johnson Harbor Access LLC Richard Leighton/Jonathan Paterson	[phone] [phone] [e-mail] [phone] [e-mail]

About Oxford Cannabinoid Technologies Holdings Plc :

Oxford Cannabinoid Technologies Holdings plc is the holding company of Oxford Cannabinoid Technologies Ltd, a pharmaceutical company developing prescription cannabinoid medicines for approval by key medicines regulatory agencies worldwide and targeting the U$ multi-billion pain market (together the "Group"). Cannabinoids are compounds found in the cannabis plant that have been shown to have a range of therapeutic effects on the body, including pain relief. The Group has a clearly defined path to commercialization, revenues and growth. The Group is developing drug candidates through clinical trials to gain regulatory approval (FDA/MHRA/EMA) that will enable medical professionals to prescribe them with confidence.

The Group's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities. The Group's lead compound, OCT461201, is a highly potent and selective CB2 agonist and is being developed by OCT in a solid oral dosage form. OCT is conducting pre-clinical testing and development with pre-clinical trials scheduled for 2022. The Group's product pipeline also uses a balanced drug product strategy that employs both natural and synthetic compounds for the treatment of rare diseases and includes chemically modified phytocannabinoids with improved drug-like characteristics and a proprietary library of cannabinoids.

OCTP operates a partnership model with external academic and commercial partners, including the University of Oxford.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

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