VANCOUVER, May 31, 2019 /CNW/ – StillCanna Inc. (CSE:STIL) (OTC:SCNNF) (“StillCanna” or the “Company”) is pleased to announce that it is trading on the OTC Markets under the symbol “SCNNF” and its shares are DTC Eligible. StillCanna’s shares are also quoted on the Börse Frankfurt Exchange in Germany under the symbol “A2PEWA” in addition to the Canadian Securities Exchange (CSE) under the symbol “STIL”.
“Trading on the US OTC Markets will assist us with increasing our U.S. shareholder base and investor awareness as we complete our transition into producing high-quality CBD Isolate from our production centres in Romania and Poland,” stated Jason Dussault, Chief Executive Officer, “having recently announced a C$36 million supply agreement with a leading US-based producer of CBD-infused products, we look to increase our visibility with both US customers and shareholders alike.”
What is DTC Eligibility?
DTC Eligibility means that a public company’s securities are able to be deposited through DTC. DTC is the largest securities depository in the world and holds over $35 trillion dollars’ worth of securities on deposit. DTC accepts deposits of securities from its participants only, who are usually clearing firms. Most brokers clear stock in-house or hire a clearing firm to do so on their behalf. All movements of securities are made to the participant’s account electronically with book-entry adjustments. If an issuer is not DTC eligible, then its shares cannot be transferred between brokerage accounts electronically, which means its shares cannot be traded easily.
About StillCanna Inc.
StillCanna Inc. (CSE:STIL) (OTC:SCNNF) www.StillCanna.com is a Canadian early-stage life sciences company focused on large scale CBD extraction in Europe. The Company believes its proprietary intellectual property allows it to extract CBD at a lower cost. The Company has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly BioSciences LLC, a United Kingdom-based supplier of CBD. The Company also recently completed the acquisition of Olimax NT SP. Z .O.O, which is expected to increase the Company’s market share in the European CBD industry.
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.
SOURCE StillCanna Inc.