Canadian medical marijuana company MPX Bioceutical uplists to OTCQX exchange

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MPX Bioceutical Corp (CSE:MPX, OTCMKTS:MPXEF) announced Wednesday that shares of the Canadian medical marijuana company have moved to the OTCQX market.

Stocks that trade on the OTCQX meet more stringent qualification criteria compared to other over-the-counter stocks that trade in the OTCQB Venture and more speculative Pink Sheets.  

“Over the past year MPX experienced significant operational changes and reached many corporate milestones, growing its Arizona footprint, acquiring cultivation, production and kitchen facilities in Nevada, opening its first cannabis dispensary in Maryland and expanding into Canada,” MPX Bioceutical CEO W Scott Boyes said in a statement.

Boyes said that upgrading to the OTCQX from the OTCQB demonstrates the cannabis grower’s commitment to “transparency, professionalism and integrity.”

“It is an important step toward improving liquidity in our stock as we continue to drive shareholder value,” said Boyes.

The Toronto-based medical marijuana company has a growing presence in the US with plans for ten dispensaries and four production facilities in four states. It already has profitable operations in Arizona where it has three fully operational Health for Life and a fourth Holistic Center dispensary.

MPX Bioceutical has a joint venture agreement with Panaxia to develop proprietary, smokeless pharma-grade products using cannabis.

In Canada, MPX Bioceutical has acquired Canveda which has a cultivation license from Health Canada. The company has also leased a 74,343 square foot cultivation and production facility in Owen Sound, Ontario and applied to Health Canada for a cannabis production and sales license.

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