Lexaria Biotech Uplisting Closer Now!
$LXRP --- During 2020 we repeatedly told our shareholders that we thought we needed to move to a senior US securities exchange. We trade on the Canadian Securities Exchange and we are also quoted on the OTCQX – the highest tier of the OTC markets.
A lot of people don’t realize the OTC is not actually a stock exchange. As such, the vast majority – possibly over 90% - of all the investible money in the USA is disallowed from investing in OTC securities. This includes most institutional money, mutual funds, family offices, ETF’s and more. Even the very popular US trading platform RobinHood only allows its customers to trade securities listed on the NYSE and Nasdaq. The bottom line is simple: in order for Lexaria to be accessible to the majority of US capital, we need a senior US securities exchange listing.
We received overwhelming shareholder support to do so at our last AGM, and our up-list program is, we think, getting close to being complete. Final timing is out of our hands but we certainly expect and hope it to take place during the first quarter of 2021. Our investment banking partner is ready to proceed and the necessary filings are being made with the SEC and others.
Our US exchange up-listing is the single most exciting development to happen to Lexaria and we hope that the ability of a vastly larger pool of capital to invest into Lexaria will assist in our pursuit of increasing shareholder value.
