Herzliya, Israel and Calgary, Alberta–(Newsfile Corp. – May 6, 2021) – Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (the “Company” or “Innocan”) is pleased to announce that it is currently trading on the OTCQB Venture Market and is eligible for electronic clearing and settlement through The Depository Trust Company (“DTC”) in the United States. The Company’s common shares are quoted in the United States on the OTCQB Venture Market under the ticker symbol ” INNPF “.
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DTC is a subsidiary of The Depository Trust & Clearing Corporation, based in the United States, that manages the electronic clearing and settlement of publicly-traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms. In addition to trading in the United States on the OTCQB Venture Market, the Company’s common shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol “INNO” and the Frankfurt Stock Exchange under the symbol “IP4.”
Iris Bincovich, Chief Executive of Innocan Pharma, said: “Innocan is delighted to begin trading on the OTCQB Venture Market. The cross-trading of the common shares from Canada will provide the Company with increased access to investors and a broader shareholder base. US investors can find real-time quotes and market information for Innocan Pharma at www.otcmarkets.com for access to current company news and developments.”
“The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. We are thrilled over obtaining DTC eligibility, as it represents an important step forward in increasing our liquidity, broadening our shareholder base and building a strong presence for our company within US capital markets.”
Trading on the OTCQB Venture Market in the US has no impact on existing Innocan Pharma common shares trading on the Main Market of the Canadian Securities Exchange, and no new common shares will be issued as part of the trading on the OTCQB.
The Company, through its wholly owned Israeli subsidiary, Innocan Pharma Ltd. (“Innocan Israel”), is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD“). Innocan Israel and Ramot at Tel Aviv University are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Coronavirus using CBD. CBD-loaded exosomes hold the potential to help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.
Innocan Israel signed a worldwide exclusive license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem to develop a CBD drug delivery platform based on a unique-controlled release liposome to be administrated by injection. Innocan Israel plans, together with Professor Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University, to test the liposome platform on several potential indications. Innocan Israel is also working on a dermal product that integrates CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of Innocan have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.
For further information, please contact:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution regarding forward-looking information
Certain information and statements set forth in this news release, including, without limitation, information regarding the markets, requisite regulatory approvals and the anticipated timing for market entry, are forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively “forward-looking information”). By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of trading on the OTCQB Venture Market and DTC eligibility including increased liquidity and broadening our shareholder base, and building a strong presence for our company within US capital markets, the benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.
Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors and that liquidity for our common shares and that our shareholder base will not increase. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedar.com.
Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
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