CSE New Listing - Ascent Industries Corp. Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2018) - Ascent Industries Corp. (CSE: ASNT) is the latest new listing on the Canadian Securities Exchange, having previously traded as Paget Minerals on the TSX Venture Exchange.
Philip Campbell, CEO, stated: "This is a very exciting day for our team at Ascent. We have been working towards this milestone for years and we are grateful to all our shareholders for their long-term support for the Company. We would also like to express our appreciation to all of our various partners who have helped us reach this day — capital providers, industry partners, advisors, and especially employees. We look forward to building value for all stakeholders as a public company."
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The company's operations currently include licenced facilities in British Columbia, Canada, and in Oregon and Nevada in the United States.
The company, through its wholly-owned subsidiaries, is a Licenced Producer under the Access to Cannabis for Medical Purposes Regulations of Health Canada, with licences to cultivate cannabis and produce cannabis extracts. The company is increasing its cultivation and production capacity from 50,000 square feet to 710,000 square feet in 2018, from which it expects to produce significantly higher amounts of cannabis and cannabis oil to support its expanding operations.
In addition, the company is a Licenced Dealer under the Controlled Drugs and Substances Act, with the ability to produce, package, sell, send, transport and distribute medically focused cannabis products in Canada to other licenced entities and internationally in jurisdictions where medical cannabis is legal.
In the United States, the company holds licences in Oregon for processing and for distribution of cannabis to any licenced entity in the state, and in Nevada for cultivation and for production, processing and wholesale distribution of cannabis.
In Europe, through a wholly-owned Danish subsidiary, the company has submitted licence applications for a Wholesaler Dealers Licence and Controlled Drug Licence in Denmark, and applications for the approval of eight products to the Danish Medical Cannabis Pilot Program.
The company offers a product suite of more than 40 unique products under several consumer-focused brands, including gel capsules, tinctures, medicinal oils, concentrates, vaporizer pens, pre-rolled joints, various edibles and raw flower. Through careful development of its sophisticated cannabis brands, Ascent is positioned to be a leader in branded, commercialized products in both medical and adult-use markets across North America and internationally.
In addition, the company conducts cannabis-based research with Simon Fraser University and the University of Kentucky, including in the area of unique cannabinoid formulations that produce targeted physiological outcomes.
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