First Harvest’s Uplisting Opens New Doors
July 12th, 2017
News, Top News
The cannabis industry is projected to grow to over $50 billion by 2026, according to Cowen & Co., but companies in the space have few options when it comes to advertising their products and services on social media. Investors may want to take a closer look at the media and advertising subset of the cannabis industry as a potential opportunity, while looking toward companies that exhibit strong transparency and liquidity.
In this article, we will look at First Harvest Corp.’s (OTCQB: HVST) recent uplisting to the OTCQB from the OTC Pink marketplace and its unique approach to the media and advertising market.
What is the OTCQB?
The OTCQB Venture Market is for entrepreneurial and development-stage U.S. and international companies. Companies listed on the exchange must be current in their reporting and undergo an annual verification and management certification process. These standards provide a strong baseline of transparency along with the technology and regulation needed to improve the investing experience for retail and institutional investors.
By comparison, the OTC Pink Open Market is designed for all types of companies available through any broker. These companies may be perfectly reputable, but there is less transparency and fewer requirements. Many investors prefer to invest in OTCQB or higher companies to simplify due diligence by creating a baseline group of opportunities. Some larger investors may also consider OTC Pink companies off-limits for various reasons.
First Harvest Moves to the OTCQB
First Harvest recently announced that its stock began trading on the OTCQB after successfully uplisting. Management believes that the OTCQB can provide enhanced investor benefits, such as higher reporting standards, greater access to analyst coverage/news services, and more comprehensive compliance requirements. The company also hopes that the uplisting will help broaden and diversify its shareholder base.
“Uplisting to the OTCQB is another significant milestone for our company,” said First Harvest CEO Kevin Gillespie in the press release announcing the uplisting to the OTCQB exchange. “We believe trading on the OTCQB will provide our shareholders and prospective investors with a degree of transparency and liquidity, as well as exposure to institutional investors that would otherwise not invest in Pink Sheet companies.”
First Harvest is focused on combining three of the fastest growing business sectors – cannabis, social media, and mobile gaming. Hemp Inc. is already a top-rated and top-trending game in both the App Store and Google Play that lets users build their own cannabis empire, while CannaVoices is a member-based social media platform for subscribers to participate in an open forum with other pro-cannabis supporters. The game has achieved rankings as high as #1 in both on-line stores.
The company plans to leverage its gaming and social media presence to power an online advertising platform designed to fill a gap in the market. Many popular social media platforms don’t provide the ability to tap into a segmented cannabis audience due to restrictive protocols within their terms of service. First Harvest enables advertisers to reach targeted, highly-engaged, and active cannabis enthusiasts through Hemp Inc. and CannaVoices.
First Harvest Inc. (OTCQB: HVST) represents a diversified opportunity within the burgeoning cannabis industry. With a leading cannabis game and social media platform, the company offers advertisers unparalleled access to highly-engaged cannabis consumers in a market where few advertising options exist. The recent uplisting to the OTCQB helps broaden the stock’s appeal to individual and institutional investors given the increased transparency requirements.
For more information, visit the company’s website and follow CannabisFN’s coverage.
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