MPX International Upgrades to OTCQX Best Market
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TORONTO, Feb. 11, 2020 (GLOBE NEWSWIRE) -- MPX International Corporation (“MPX International,” “MPXI” or the “Company”) (CSE:MPXI; OTCQX:MPXOF) today announced that its common shares were approved for trading in the United States on the OTCQX® Best Market, effective today, Tuesday, February 11, 2020. MPXI's common shares will continue to trade under the ticker symbol “MPXOF.”
The OTCQX® Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications.
“Over the past year MPX International experienced significant operational changes and reached many corporate milestones, including the: (a) acquisition of HolyWeed, a Swiss-based producer of high- quality CBD products; (b) launch of MPXI Labs in Switzerland, which will produce “cannabis-light” and CBD oils, extracts, and other CBD-infused products for the Swiss and European markets; (c) issuance of both a Medical Cannabis Licence and Cannabis Manufacture Licence to MPX Australia enabling it to produce medical cannabis products for the Oceania markets; (d) receipt of an LOI from Malta Enterprise and the acquisition of an EU GMP-ready facility in Malta, which when fully-built out, will give MPXI direct access to the European medical cannabis market; (e) opening of retail flagship stores in both London and Geneva selling HolyWeed and “beleaf” CBD products; (f) acquisition and launch of the Medical Cannabis Learning Network which, via in-store electronic terminals in health food stores, pharmacies and pain clinics, and online through a private portal, provides education, consultation and order-entry tools for new and existing medical cannabis patients; and (g) entering into a framework agreement and the start of construction of a cultivation project near Cape Town, South Africa which will provide MPXI’s global operations with low-cost cannabis biomass. We are committed to upholding best practices in corporate governance and financial reporting as we continue to accelerate our growth strategy to further grow market share and penetrate new markets. Upgrading to the OTCQX Market demonstrates this commitment to transparency, professionalism and integrity and is an important a step toward improving liquidity in our stock as we continue to drive shareholder value,” commented W. Scott Boyes, MPX’s Chairman, President and CEO.
U.S. investors can find current financial disclosure and real-time quotes for the company on www.otcmarkets.com.
For additional information on MPXI visit its website or http://mpxi.tv
To be added to the distribution list, please email MPXI@kcsa.com with “MPXI” in the subject line.
About MPX International Corporation
MPX International Corporation is focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in MPX International’s public documents filed on SEDAR at www.sedar.com, including its audited annual consolidated financial statements for the financial years ended September 30, 2019 and 2018 and the corresponding annual management’s discussion and analysis; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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Released February 11, 2020