$PHRM - Announces Application for OTCQB Listing
TORONTO, Dec. 30, 2020 (GLOBE NEWSWIRE) — Newscope Capital Corporation (CSE: PHRM) (OTC Pink: PHRRF) (the “Company”), who through its wholly owned subsidiary, PharmaTher Inc., is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce that it has submitted its application for uplisting to the OTCQB® Venture Market (“OTCQB”).
FINRA has accepted the Company’s Form 211 which qualifies the Company’s shares to trade in the United States on the OTC Pink Market under the symbol “PHRRF”. The Company has also applied to the Depository Trust Company (“DTC”) for DTC eligibility which would greatly simplify the process of trading Company’s common shares. The Company will continue to trade on the Canadian Securities Exchange (“CSE”) under its existing symbol “PHRM”.
The OTCQB Venture Market, operated by OTC Markets Group Inc., is designed for developing and entrepreneurial companies in the U.S. and abroad. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.
Fabio Chianelli, CEO of the Company commented, “We are pleased to have initiated the process to list our common shares on the OTCQB as part of our strategy on building our awareness to a broader range of institutional and retail investors in the U.S. as we continue to meet the milestones of our clinical-stage product pipeline of FDA-approved ketamine to treat neurological disorders, such as Parkinson’s disease, depression and pain.”
The listing of the Company’s common shares on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. As more information becomes available, the company will keep its shareholders up-to-date on the status of the application.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, PTC Market Group Inc. connects a diverse network of broker-dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. To learn more about how OTC Markets Group Inc. creates better informed and more efficient markets, visit www.otcmarkets.com.