The official name of the company is CanaFarma Hemp Products Corporation and will trade under the stock symbol (CSE: CNFA) effective at the open of the market on Thursday, March 19th, 2020, the Common Shares will commence trading on the Canadian Securities Exchange (CSE) under the symbol “CNFA”.
David Lonsdale, CEO of CanaFarma commented: “We are thrilled to commence our listing on the CSE, the world’s preeminent public exchange for innovative CBD and hemp-based product companies. CanaFarma has demonstrated positive early success in its product sales and we look forward to further expanding and pursuing our various growth opportunities, which this Transaction and CSE share listing will help to facilitate.”
Financial statements to be filed as a result of the merger and the reporting periods for the first financial year subsequent to the completion of the merger are to be filed on or before March 16, 2020, and for CanaFarma Corp. (the reverse take-over acquirer): Interim Financial Statements for the six months ended December 31, 2019, also will be filed on or before March 16, 2020.
We spoke with Vitaly Fargesen today, and everything is on track for public trading on the CSE, with launches also happening in Germany and Mexican exchanges as previously projected in the timeline to follow the Thursday, March 19, 2020 trading in Canada.
CanaFarma has a solid revenue stream for the Yooforic Hemp Oil infused chewing gum product line and Fargesen reiterated in the call this morning, that despite the market volatility things were going according to plan commented, ” often we don’t get to choose the ideal conditions..but we have a solid plan and team in place with experienced professionals “.
Fargesen went on to say, the funding for the manufacturing plant is in place which would lower the cost of goods sold, which is a key metric in the industry. He also talked about the logic of listing on 3 exchanges and that the company didn’t need to raise capital with the public shares, and did pre-launch capital raises and had a good handle on the rollout strategy.
We will be following the launch and will keep you updated on important information as we chronicle the company as shares begin trading in Canada Thursday followed by Germany and Mexico. Below is information from Sedar (The Canadian Regulator) on CanaFarma.
|Mailing Address:||2080 – 777 Hornby StreetVancouver, British ColumbiaV6Z1S4||Head Office Address:||2080 – 777 Hornby StreetVancouver, British ColumbiaV6Z1S4|
|Contact Name:||David M. Lonsdale||Principal Regulator:||British Columbia|
|Business e-mail address:||firstname.lastname@example.org||Short Form Prospectus Issuer:||No|
|Telephone Number:||214 704-7942||Reporting Jurisdictions:||British Columbia, Alberta, Ontario|
|Fax Number:||972 596-0017||Stock Exchange:||Canada – CSE|
|Date of Formation:||Jun 6 2017||Stock Symbol:||CNFA|
|Jurisdiction Where Formed:||British Columbia||Auditor:||Dale Matheson Carr-Hilton LaBonte LLP|
|Industry Classification:||industrial products – technology||General Partner:|
|CUSIP Number:||13683D||Transfer Agent:||Reliable Stock Transfer Inc|
|Financial Year-End:||Jun 30||Size of Issuer (Assets):||$5,000,001 to $25,000,000|