TORONTO – Field Trip Health Ltd. (CSE: FTRP; FTRP.WT; OTCQX: FTRPF), a leader in the development and delivery of psychedelic therapies, reported its common shares have been approved for trading on the OTCQX® Best Market retaining its current symbol FTRPF, effective as of the opening of trading today, January 28, 2021. Field Trip’s shares and warrants continue to trade on the Canadian Securities Exchange under the tickers FTRP and FTRP.WT, respectively.
“Our quotation on the OTCQX Best Market from the Pink® market marks an important step for Field Trip in bringing our integrated psychedelics business to a wider range of U.S. and international institutional and retail investors,” said Ronan Levy, Field Trip’s Executive Chairman. “The OTCQX is the top tier of OTC Markets, with the most stringent entry requirements, and we expect this move will help improve liquidity and broaden our investor base. Our Field Trip Discovery and Field Trip Health divisions are at the forefront of the psychedelics industry at a time when scientists and investors alike are showing greater interest in, and enthusiasm for, the transformative impact that psychedelics may have on our approach to mental health and wellness. We would like to thank all of our shareholders for their ongoing support as we leverage our unique positioning in the market to grow the value of our company.”
The OTCQX Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
In addition to quotation of its shares on the OTCQX, Field Trip continues to explore options to enhance liquidity and access for global investors interested in investing in Field Trip, including potential up-listings or cross-listings to US or international exchanges and/or up-listing to senior exchanges in Canada, and also continues the process of securing Depository Trust Company (DTC) eligibility for its common shares. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of US publicly traded companies. DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company’s common shares in the United States.
Field Trip is a global leader in the development and delivery of psychedelic therapies. The Field Trip Discovery division is leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics including psilocybin-producing fungi and building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools to enable massive scale. The company states it seeks to help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.
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