North Providence, RI, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Real Brands Inc. (OTCPK: RLBD) has filed its application with the OTC Markets Group (OTC) as one of the final steps necessary to qualify for uplisting from the OTC Pink market to the OTCQB. The middle tier of OTC Markets – OTCQB – is known as The Venture Market, which is just below the OTCQX, the top tier. To be eligible for OTCQB, companies must, in addition to other criteria, be current in their financial reporting and undergo an annual verification and management certification process. Over 900 companies trade on the OTCQB Market.
“Step by step, we are executing on the strategy that we have shared with our investors and shareholders,” stated Thom Kidrin, Real Brands CEO. “The process for uplisting is very involved and requires extensive documentation and audits. This has taken longer than anticipated due to COVID 19-related delays beyond our control with government agencies, financial and legal reviews. With our submission completed, we now await the OTC’s review and approval.”
Real Brands completed the OTC’s requirements to qualify for uplisting to Nasdaq OTCQB status as follows:
- Form 10 filed and approved
- Compliant with two years of audited financials
- Became a fully reporting public company subject to the requirements of the Securities Laws
- Submission of Compliance paperwork
Real Brands’ initial primary business has been pharmaceutical grade cannabinoid extraction of CBD isolate and distillate as well as terpenes and minor cannabinoids, wholesaling of CBD oils and isolate, proprietary formulation, production, and sales of hemp-derived consumer brands. The Company has also made a strategic commitment to becoming a brand owner and has committed resources to developing proprietary branded product lines with novel formulations in order to distribute high-quality, low-cost, hemp-derived products such as topical creams and gels, cosmetics, tinctures, oils, capsules, vape cartridges, oral sprays and other products that contain hemp derivative distillate or isolate as well as other minor cannabinoids.
“Our brand development strategy is to leverage our existing resources into creating online sales, licensing opportunities and a distribution network for proprietary legal hemp and, eventually, cannabis brands, and other consumer brands,” Kidrin noted. “Additionally, we expect to acquire and/or develop brands in which CBD and minor cannabinoids are complementary ingredients, and which are conducive to hemp-derived infusion or micro encapsulation, e.g. chocolates, cosmetics, edibles, drinks, sprays, tinctures, sub-lingual strips, cooking condiments, powders, vapes, etc. We anticipate uplisting to the OTCQB will help us in funding these endeavors as it provides us with greater credibility and exposure to a more sophisticated and discerning caliber of investors who appreciate the transparency afforded by the additional reporting requirements, as a larger float for ease of trading.”
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Contacts:
Media Relations: Accentuate PR, Julie Shepherd 847 275 3643, julie@accentuatepr.com
Sales/Investors: 781-366-7400, info@realbrands.com
About Real Brands Inc.
Real Brands is the result of a 2020 merger with Canadian American Standard Hemp Inc. (CASH) that brought together industrial-scale hemp CBD oil/isolate extraction and processing, wholesaling of CBD oils and isolate, and production and sales of numerous hemp-derived CBD consumer brands of smokable, edible and topical products. Its Halo 5 is a proprietary chromatography extraction technology utilizing a Simulated Moving Bed (SMB) that provides the advantage of producing large quantities of highly purified material and precise pharmaceutical grade molecular separation at dramatically reduced costs. Visit https://realbrands.com/. Consumer product lines are available on www.phazesports.com, www.wabrands.com, and www.americanstandardhemp.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to Real Brands, Inc. that are based on the beliefs of Real Brands' management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “confident,” “estimated,” “should,” “preparing,” “expected” or words of a similar nature. The Company does not intend to update these forward-looking statements. The content of any websites referenced herein are not incorporated into this release.
