Apollon Formularies - Intention to Join OTC & Migrate to Larger Exchange
RNS Number : 0873B
Apollon Formularies plc
09 February 2022
 

9 February 2022

Apollon Formularies Plc

Intention to Join US OTC Market and Migrate to a Larger Exchange

 

Apollon Formularies plc (AQSE: APOL, "Apollon" or the "Company"), UK based international pharmaceutical company trading on the Aquis Stock Exchange and focused on the treatment of various cancer conditions using its proprietary medical cannabis formulations, is pleased to announce it is advancing an application to join the OTCQB Market ("OTCQB") in the United States. Apollon's Ordinary Shares will continue to trade on the Aquis Stock Exchange under the symbol APOL.

The Company decided to undertake this application for a second trading platform for its shares at the request of several US based investors and believes that cross trading on the OTCQB will provide enhanced investor benefits, including easier access for potential investors in North America, increased trading hours and improved trading liquidity.

 

Apollon is also pleased to announce that it is exploring other possible up-listing options on local and international exchanges to increase investor access. The Company will maintain its existing AQSE listing, in addition to any additional up-listing it may undertake.

 

The Company believes that, due to the growth it has seen both in terms of the build out of its facilities and the increase in patient enquiries, moving to a more well-established exchange will provide easier trading access for institutional investors and improve liquidity for all shareholders.

 

The Company will provide further detail in due course.

 

More information about the OTCQB can be found here: www.otcmarkets.com

 

Dr. Stephen Barnhill, CEO of Apollon Formularies, commented, "With Apollon's primary operations based in Jamaica, having a platform in the USA is an important step in our growth strategy. Onboarding onto the OTCQB will strengthen Apollon's visibility and transparency within the US public market and will provide access to a new international investor base.

 

"Alongside the OTCQB trading, Apollon is also exploring an up-listing to another larger more liquid exchange. Whilst we cannot provide any further detail at this stage, we will continue to explore these opportunities to drive shareholder value."

 

- Ends -

The Directors of the Company accept responsibility for the contents of this announcement.

For additional information, please visit www.apollon.org.uk or contact:

 

Apollon Formularies                                                     

Tel:                                         +44 771 198 0221

Stene Jacobs                      stene@apollon.org.uk 

Peterhouse Capital Limited (Corporate Adviser)             

Tel:                                         +44 207 220 9795

Guy Miller                           gm@peterhousecapital.com

Blytheweigh (Financial PR/IR-London)                 

Tel:                                         +44 207 138 3204

Tim Blythe                           tim.blythe@blytheweigh.com

Megan Ray                         megan.ray@blytheweigh.com 

 

About Apollon and Apollon Jamaica

Apollon Formularies plc is an international medical cannabis company headquartered in the United Kingdom. Apollon Formularies Jamaica Limited is a pharmaceutical company incorporated and operating in the Commonwealth of Jamaica. Apollon Jamaica is licensed by the Jamaican government's Cannabis Licensing Authority (CLA) to cultivate, perform research and development, process, and sell medical cannabis therapeutic products that include legal medical cannabis to treat various illnesses under medical supervision. Apollon and Apollon Jamaica are parties to a Commitment Agreement whereby Apollon is entitled to 95% of Apollon Jamaica's Net Profits, and per a Stock Pledge Agreement that includes Stephen D. Barnhill, M.D., Apollon is to be assigned the entire 49% equity interest of Apollon Jamaica held by Dr. Barnhill, which is the maximum interest in a medical cannabis company allowed to be held by a non-Jamaican, upon the CLA approving the assignment.

 

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