With cannabis usage legalized nationwide in Canada and an 11th state enacting recreational legalization in the U.S., companies across the licensed North American industry are seeking greater recognition on the stock market.
Today ancillary cannabis product producer KushCo Holdings, Inc. (OTCQX: KSHB) officially filed to move from the OTC Markets over to NASDAQ.
While awaiting a decision on that filing and navigating through the regulatory approval process, KushCo will still trade on the OTCQX.
Trading on higher-end markets has been a major milestone for both Canadian and U.S. cannabis entities in the last year as they look for new fundraising opportunities and greater market share.
New Brunswick-based medical cannabis company Organigram Holdings Inc. (TSX-V: OGI; OTCQX: OGRMF) was approved to list on NASDAQ back in May, while Aphria (TSX: APH) listed on the NYSE in November of 2018.
Discussing the planned move up from the OTC Markets, KushCo CEO Nick Kovacevich had this to say:
Rather than selling dried flower or vape oils directly to consumers, KushCo primarily focuses on providing services and peripheral products to other cannabis companies.
Aside from developing and selling a variety of vaporizers and solvents, KushCo also just entered the CBD industry by teaming up with marketing company C.A. Fortune.
While mom-and-pop CBD stores are opening across the nation, hemp-based products are also increasingly found in more traditional retail locations such as pharmacy chains or quick stop convenience stores.
Under the terms of that new partnership with C.A. Fortune, the two organizations will assist client companies in producing CBD products at scale and releasing them through a wide range of retail outlets in the United States.
In other recent KushCo news, the company opened a major Midwest distribution facility last month in Taylor, Michigan. That 40,000 sq. ft. facility will be used to house, package, and distribute products in several states, in addition to including new office space and a showroom / sampling area.