The company aims to release its first medicinal cannabis products in FY2019.
() (OTCQX:ACNNF) has commenced trading on the US OTCQX Market under the stock symbol ACNNF.
Trading on the OTCQX supports AusCann’s strategy to broaden its international investor base, particularly in North America where it has a number of strategic agreements in place.
The benefits of cross-trading in the US and expanded access to investors, diversification of the shareholder base, and enhancing the accessibility and liquidity of the company’s stock.
READ: Auscann Group makes steady progress towards production of cannabinoid medicines
AusCann’s managing director Elaine Darby said: “We believe the company will benefit significantly from the increased global exposure cross-trading will provide us and we look forward to strengthening our international partnerships.
“As regulatory changes are enacted worldwide and the benefits of cannabinoid medicines become more accepted, AusCann is seeing an increasing number of opportunities to expand its global footprint.”
AusCann aims to produce high quality, economical, and clinically validated cannabinoid medicines.
It has a vertically integrated strategy beginning with cultivation and production, through to manufacture and distribution of products.
This is made possible through a number of partnerships with industry leaders such as Canopy Growth Corp and Fundacion Daya.
The company is initially targeting medications for neuropathic and chronic pain in Australia and internationally, a market estimated to be worth $9 billion in Australia alone.