- Cannabis packaging company SLANG Worldwide (SLNG) has commenced trading on the OTCQB, hoping to expand its trading presence in the US
- The company commenced trading on the over-the-counter equivalent of a ventures market ealier today, under the ticker code SLGWF
- By listing on the exchange SLANG hopes to expand its footprint in the US without incurring the costs or meeting the trading requirements of more well-known US-based markets
- Alongside the listing, the company also revealed that its common shares can now be cleared and settled in the US through the Depository Trust Company
- Slang Worldwide (SLNG) is holding steady and is trading at C$0.14 per share
Cannabis packaging company SLANG Worldwide (SLNG) has commenced trading on the OTCQB, hoping to expand its trading presence in the US.
Known as the over-the-counter equivalent of a ventures market, the OTCQB is a middle tier market for early stage companies who do not qualify for the higher OTCQX tier.
The company commenced trading on the OTCQB ealier today, under the ticker code SLGWF.
By listing on the exchange SLANG hopes to expand its presence in the US without incurring the costs or meeting the trading requirements of more well-known markets such as the NYSE.
Alongside the listing, the company also revealed that its common shares can now be cleared and settled in the US through the Depository Trust Company, providing further flexibility to prospective US investors.
SLANG President & CEO Chris Driessen commented on the company’s desire to list on the OTCQB.
“Trading on a platform in the US, where we conduct most of our business, is an important milestone for our company. We anticipate that this will increase our liquidity and visibility in the U.S. investment community, at a time when the cannabis sector is gaining acceptance across the country,” he said.
The new listing follows a difficult performance on the Canadian Securities Exchange, after only listing at the beginning of last year. Despite reaching an all-time high of $2.63 per share in April 2019, the company’s shares have been gradually slipping ever since, dropping more than 90 per cent in the intervening months.
Slang Worldwide (SLNG) is currently holding steady and is trading at C$0.14 per share at 2:37pm EDT.
