- Pac Roots Cannabis recently revealed it had commenced trading on the Frankfurt Stock Exchange under symbol “4XM”
- German listing will add on to company’s existing listings on U.S. OTC market, Canadian Securities Exchange
- Pac Roots’ geographically diverse capital markets presence will allow it to cater to broader, more diverse investor audience
- Europe’s legal cannabis market expected to swell to market value of $37.1 billion by 2027
Pac Roots Cannabis (CSE: PACR) (OTCQB: PACRF) (FSE: 4XM), a Canada-based cannabis company dedicated towards producing premium-quality strains and products by leveraging a genetics-focused approach, announced that as of March 18, 2021, the company had commenced trading in Europe on the Frankfurt Stock Exchange under the symbol “4XM” (https://cnw.fm/rLkdE). Pac Roots will continue to be simultaneously quoted on OTC Markets under the symbol “PACRF” as well as trade on the Canadian Securities Exchange under the trading symbol “PACR.”
The Frankfurt Stock Exchange listing will be a key avenue for Pac Roots to further broaden and diversify its shareholder base throughout the European Region as well as the United States. The Frankfurt Stock Exchange ranks as the largest of Germany’s seven equity bourses and as the world’s twelfth largest stock exchange by market capitalization. Furthermore, it caters to a diverse investor audience – of the approximately 200 market participants currently active on the market, approximately 50% originate from countries other than Germany.
“With the cannabis industry gaining momentum in Europe, this additional listing will help increase our visibility and open doors to new investors as well as enable exciting business opportunities,” said Pac Roots President and CEO Patrick Elliott. Cannabis consumption has been increasingly decriminalized in the United States, with 34 individual states in the U.S granting consumers access to medical or recreational cannabis; however, the legalization process in Europe has lagged some way behind.
European countries are scrambling to update their regulations in response to ever-increasing pressure to ease restrictions and provide an outlet for a profitable industry which is rapidly globalizing. France and Germany are currently carrying out clinical trials on the use of medical cannabis, whereas the Netherlands and Switzerland are expected to implement recreational programs by the end of the year (https://cnw.fm/94BTN).
In what may be the the biggest indication of the region’s commercial potential, Curaleaf Holdings Inc. recently agreed to purchase privately held Emmac Life Sciences Ltd, Europe’s largest independent medical cannabis company for about $285 million, gaining access to the European Union’s medical marijuana and CBD consumer markets. The deal marked the latest iteration within the European cannabis industry’s cross-border M&A activity, with previous deals seeing the likes of Israel’s Intercure Ltd agreeing to be purchased by a U.S. SPAC and Canadian cannabis company Tilray Inc., touting its European growth plans as part of its merger with Aphria Inc.
Europe’s cannabis market was recently valued at approximately $3.49 billion as of the end of 2019 (https://cnw.fm/1enOq), a mere fraction of the estimated $33.1 billion value of the legal marijuana industry in the United States this year. However, the market is estimated to swell to over $37 billion by 2027 as the pace of legalization picks up in the EU’s different member states, placing Pac Roots Cannabis in an ideal position to benefit from increased European capital market interest within the sector.
For more information, visit the company’s website at www.PacRoots.ca.
NOTE TO INVESTORS: The latest news and updates relating to PACR are available in the company’s newsroom at http://cnw.fm/PACR
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