Canadian Cannabis Producer Aphria Quietly Lists in the U.S.

Aphria aphqf OTC

Aphria (TSXV:APH) (OTC:APHQF) officially listed its stock on the OTC Pink Sheets, joining peers Aurora Cannabis (CSE:ACB) (OTC:ACBFF), OrganiGram (TSXV:OGI) (OTC:OGRMF), which trades on the OTCQB, and Supreme Pharma (CSE:SL) (OTC:SPRWF). Until June 10th, its stock had been listed as “Grey Market”, with no quotation of bids and offers provided to investors. OTC Markets explains the listing requirements, and there is a small cost associated with the move. The company will continue to file financial statements in Canada on SEDAR.

While the fundamentals of the company will ultimately drive the stock price, listing officially in the U.S. will likely improve liquidity for the company’s stock, widening the investor base in the U.S. potentially. U.S. investors have traded OGRMF and SPRWF very actively over the past year, showing a preference for U.S.-listed securities. The alternative is to open an investment account that allows one to trade in Canada. Otherwise, without a listing in the U.S., the stock, which is an unsponsored American depository receipt (ADR) that has been issued without company consent, trades without bid and offer. We reached out to the company for an update but haven’t heard back yet.

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Breaking News by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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