NEW YORK, Oct. 8, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced AmeriCann Inc. (OTCQX: ACAN), a provider of essential services to the regulated cannabis industry, has qualified to trade on OTCQX®, the best marketplace.
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AmeriCann begins trading today on OTCQX under the symbol "ACAN." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome AmeriCann to the OTCQX marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "AmeriCann joins the growing number of established U.S. companies that have chosen OTCQX to provide their shareholders transparent trading and convenient access to their news and financial disclosure."
Hart & Hart, LLP serves as AmeriCann's Designated Advisor for Disclosure ("DAD") on OTCQX, responsible for providing professional guidance on OTCQX requirements and U.S. securities laws.
AmeriCann provides a wide range of essential services to the compassionate medical marijuana industry. As more states approve and regulate cannabis, the company plans to support the industry's expansion by providing its expertise and capital, with a focus on cultivation and processing facilities.
The company recently purchased a 5 acre parcel of land for $2,250,000 million to develop the Denver Cannabis Center. Plans for this facility include the construction of a 126,000 square foot facility that would include greenhouse and indoor cultivation areas that will be sold to licensed cannabis operators. Additionally, the company has provided $1,000,000 in capital to existing medical cannabis entrepreneurs in Colorado for the expansion of their operations.
Tim Keogh, CEO of AmeriCann stated, "AmeriCann's management team members have had extensive first-hand experience with compassionate medical marijuana programs for many years. The cost to build the infrastructure to serve new medical marijuana patients is estimated in the billions of dollars. Much of the funding and necessary expertise for this growth will come from publicly traded companies, such as AmeriCann."
Mr. Keogh added, "To support this important emerging industry, it is important that financially solid public companies trade on quality marketplaces such as OTCQX. The high standards for marketplace integrity and transparency that the OTCQX marketplace provides investors are particularly important for the medical cannabis industry."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.