Vibe Growth Announces New U.S. Ticker Symbol "VIBEF"
- Company to immediately commence trading under its new U.S. ticker symbol, "VIBEF"
- Vibe Growth also announces application for uplisting to OTCQX
Sacramento, California--(Newsfile Corp. - August 24, 2021) - Vibe Growth Corporation (CSE: VIBE) (OTC PINK: VIBEF) (FSE: A061) ("Vibe" or the "Company"), a leading vertically integrated California cannabis enterprise, is pleased to announce that effective today, the Company will commence trading on the OTC Pink market under its new ticker symbol, "VIBEF". The Company will continue to trade on the Canadian Securities Exchange under its symbol "VIBE" as well as on the Frankfurt Exchange under its symbol "A061". Additionally, the Company announces that it is applying for the listing of its common shares on the OTCQX® Best Market ("OTCQX"), a U.S. trading platform operated by the OTC Markets Group in New York. The Company will provide further updates once they become available.
The OTCQX is the platform's premier marketplace for companies already listed on a qualified international stock exchange and enables global companies to provide a high-quality trading and information experience for their U.S. investors. The OTCQX quality standards provide a strong baseline of transparency as well as the technology and regulation to improve the information and trading experience for investors. The Company believes that trading on the OTCQX will provide additional liquidity and increase its visibility within the U.S. capital markets.
Vibe CEO Mark Waldron stated, "We have had significant interest from U.S.-based investors in gaining exposure to the growth potential of the cannabis market and in particular, California, the world's largest cannabis market. Listing on the OTCQX will allow us to engage new investors and expand our shareholder base, allowing U.S. investors to more easily invest in our Company."
About Vibe Growth Corporation
Vibe Growth Corporation and its cannabis retail brand, Vibe By California, is a trusted, California focused, multistate (MSO) cannabis enterprise with retail dispensaries; cannabis greenhouse cultivation; premium indoor cultivation; commercial cannabis distribution; brand sales and marketing; e-commerce platform; home delivery; and Hype Cannabis Co. marijuana and Vibe CBD products. In California, Vibe is focused on maximizing shareholder value through accelerating organic growth, opportunistic acquisitions, distressed workouts, and new license applications. The Company operates retail and e-commerce under its iconic Vibe by California brand.
To learn more about Vibe, please visit: www.vibebycalifornia.com
Cautionary Note Regarding Product & Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "anticipate", "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events, and may be impacted as a result of general economic conditions or the ongoing COVID-19 pandemic. In this news release, forward-looking statements relate to, among other things, the Company's expectations of revenue, EBITDA profitability and adjusted funds flow, higher sales volumes, and the company's retail operations. Actual future results may differ materially.
The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties, and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. Risk factors related to the Company are described in the Company's Management Discussion and Analysis, a copy of which is available under the Company's profile on SEDAR.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any State securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale, and possession of medical cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is largely regulated at the State level. To the knowledge of Vibe Growth Corporation, there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws concerning cannabis will neither absolve Vibe of liability under the U.S. Federal law nor will it provide a defense to any Federal proceeding, which may be brought against Vibe Growth Corporation. Any such proceedings brought against Vibe may adversely affect its operations and financial performance.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94189