Zoetic International PLC (LON:ZOE) said its shares are now trading on the OTCQX Best Market, one of the highest level OTC markets in the US, under the ticker ‘ZOEIF’ after being upgraded from the OTCQB Venture Market.
The cannabidiol (CBD) products specialist said the OTCQX market is designed for “established, investor-focused US and international companies” and that graduating to the new market from OTCQB is an “important milestone” and enables firms to build visibility among US investors.
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Zoetic also said that it is currently evaluating additional opportunities to improve investor relations and communications in North America, as it believed it represented a “unique opportunity for investors to access a company that is disrupting the tobacco industry with high-quality CBD products on an international distribution platform”.
In addition to the OTCQX trading, the company also revealed it has been included in the UK MSCI Microcap Index, which it said reflects recent progress in its transition to a “pure place, integrated CBD company and the resultant increase in market capitalisation” and that the inclusion is another step towards increasing its stock liquidity and investment profile in the US.
"The combination of trading on OTCQX and index inclusion reflect the company's tremendous progress towards transitioning to a pure-play, integrated CBD company over the past 12 months”, Zoetic co-chief executive Trevor Taylor said in a statement.
“Our recent product development and wholesale distribution expansion have set the stage for the first leg of projected multi-year, sustainable growth for the company. We couldn't be more pleased with our progress to date, as well as our current position in this high-growth market", he added.