PeakBirch Logic to Commence Trading on the OTCQB Venture Market
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2021) - PeakBirch Logic Inc. ("PeakBirch" or the "Company") (CSE: PKB) (FSE: KYH2) (OTCQB: KTNNF) is pleased to announce that its common shares will commence trading on the OTCQB® Venture Market in the United States under the symbol "KTNNF" effective April 8, 2021.
"This is an important step in furthering our shareholder value. It secures the liquidity for our current investors while exposing us to the American investment community," said Marc Mulvaney, CEO of PeakBirch. "This listing is an exciting milestone in our investor relations strategy."
The OTCQB Venture Market is for entrepreneurial and development stage United States and international companies. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB Venture Market quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
In addition, the Company has submitted an application to the Depository Trust Company (the "DTC") to have the Company's common shares eligible for delivery and depository services with the DTC to facilitate electronic settlement of transfers of its common shares in the United States. Securities that are eligible to be electronically cleared and settled through the 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 greatly reduces transactional costs for participating stock brokerages. Investors can find the current Canadian financial disclosure of the Company on its profile on www.sedar.com.
PeakBirch continues to advance its expansion into the non-psychoactive mushroom markets with the launch of its e-commerce website ShroomMart.com in early Q3 of 2021 in the US, and has future plans of adding inhouse products. PeakBirch will also continue to expand its cannabis accessories and vaporizer e-commerce capabilities with new and exciting verticals. These include partnerships, acquisitions, and new technologies bringing forward the ability to offer same day deliveries and services. The final step in this goal is the expansion into new international sales territories.
"We experienced substantial growth in our first quarterly earnings in 2021 with significant revenue growth over the last four quarters which increased from $572,879 in Q1 2020 to $1,371,507 in Q1 2021. We expanded our e-commerce store NamasteVaporizers.com into Canada in late March and are already seeing good momentum in sales. In the United States, we are seeing robust growing demand in our cannabis and vaporizer businesses. In 2021 we are focusing our efforts to the non-psychoactive mushroom supplements market as we prepare ourselves for the 'Shroom Boom'," said Marc Mulvaney, CEO of PeakBirch.
To learn more about PeakBirch's new collaborative agreement with Halo, please contact PeakBirch using the information below.
Marc Mulvaney, CEO
Phone: (725) 218-3097
About PeakBirch Logic Inc.
PeakBirch is a multi-brand management company providing services & related products to the cannabis industry that believes its strong focus on and investment in marketing, brand, education to help customers make sound purchasing decision, strategic brand partnerships, and a delivery software technology will create a business with the potential to generate a significant and sustained return on invested capital over the long-term.
Information on the Company and its many products can be accessed through the links below: PeakBirch.com
Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the cost of goods to be sold under the Company's drop-shipping model, changes in government regulations or enforcement, the ability for the Company to expand its US operations or expand to international markets, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's listing statement under the Company's profile on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79786