- Sugarbud Craft Growers Corp. (SUGR) has been approved by FINRA for quotation in the U.S.
- Sugarbud's common shares have been upgraded to the OTCQB Venture Market effective today under the stock symbol SBUDF
- The company has granted a total of 12,800,000 stock options to certain directors, officers and advisors of Sugarbud
- Sugarbud is an Alberta-based boutique craft cannabis company
- Sugarbud Craft Growers Corp. (SUGR) is unchanged, trading at C$0.05 per share at 10 am ET
Sugarbud Craft Growers Corp. (SUGR) has been approved by FINRA for quotation in the U.S.
Sugarbud's common shares have been upgraded from the OTC Pink Open Market to the OTCQB Venture Market effective today.
The company's shares will trade on the OTCQB under the stock symbol SBUDF. Sugarbud's shares will remain listed on the TSX-V under the ticker symbol SUGR.
Sugarbud is also in the process of completing its application for eligibility with the Depository Trust Company (DTC).
"Being quoted on the OTCQB market will significantly enhance our visibility and make the company accessible to a much broader range of U.S. investors. The quotation on the OTCQB market is expected to increase liquidity by providing current and potential investors with a transparent and easily accessible trading platform where they can find Real-Time quotes and market information on the company,” stated Sugarbud CEO, John Kondrosky.
Qualifying for approval to trade on the OTCQB requires a company to be current on disclosure obligations, to pass a minimum bid price test, and to provide an annual company verification and management certification process.
The OTCQB quality standards create a solid baseline of transparency, as well as the technology to improve the information and trading experience for investors.
The company also announces that it has granted a total of 12,800,000 stock options to certain directors, officers and advisors of Sugarbud. The options expire five years from the date of grant and are exercisable at a price of $0.05 per share.
The options vest as to one-third on the grant date and one-third on each of the first and second anniversaries of the grant date.
The company has also entered into shares for services agreements with certain directors and an advisor. Sugarbud will issue a total of 2,650,000 shares in satisfaction of accrued portions of the cash retainers owing to such persons in the aggregate amount of $132,500. These shares will represent approximately 0.47% of the issued and outstanding shares of Sugarbud.
Sugarbud is an Alberta-based, consumer-driven boutique craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products.
Sugarbud Craft Growers Corp. (SUGR) is unchanged, trading at C$0.05 per share at 10 am ET.