Field Trip Health & Wellness Announces Posting on the OTC Market
February 03 2023 - 6:30AM
Field Trip Health & Wellness Ltd. (TSXV: FTHW) (the "Company"
or “Field Trip”), global leader in the delivery of psychedelic
therapies, is pleased to announce that the Company has received
approval from the Financial Regulatory Authority (“FINRA”) for its
shares to commence trading on the OTCQB Market (“the OTCQB”) in the
United States under the symbol “FTHWF” effective February 2, 2023.
Field Trip will continue to trade on the TSX Venture Exchange under
its existing symbol “FTHW”.
Ronan Levy, Chairman and Chief Executive Officer
of Field Trip Health & Wellness, stated, “Being posted on the
OTCQB is a key milestone in our evolution as one of today’s leading
providers of psychedelic therapy. As we enhance our efforts to
bring a more holistic treatment program to the forefront of the
mental health industry that combines technology, medicine,
well-being, and community, it is of key importance that our
progress is shared with a broad investor base. By trading on the
OTCQB, we can achieve increased visibility of Field Trip to U.S.
investors and improve our overall liquidity as we grow our global
shareholder base.”
The Company also announced that as a result, in
part, of the announcement by the US government of its intention to
end the Public Health Emergency related to the COVID-19 Pandemic
(the “PHE”), it is re-evaluating its Freedom by Field Trip program.
The Freedom by Field Trip program relies on an exception to the
Ryan Haight Act that permitted prescribing of controlled substances
such as ketamine by telemedicine during the PHE. With the end of
the PHE occurring in the first half of 2023, the Company is
evaluating its strategy around the Freedom by Field Trip program
and, as a result, has stopped enrolling new clients in the
program.
About Field Trip Health & Wellness Ltd.
With a large global community of
psychedelic-interested people, proprietary psychedelic therapies
that generate transformative results for people in the treatment of
mental health conditions and a brand and share of voice that is
reaching millions of people, Field Trip is a center of gravity for
the psychedelic renaissance.
Learn more at https://www.meetfieldtrip.com,
https://www.fieldtriphealth.com and
https://www.fieldtriphealth.nl.
Follow us on Twitter and Instagram:
@fieldtriphealth
To receive company updates about Field Trip and
to be added to the email distribution list please sign up here.
Download Field Trip’s app here.
About the OTCQB
The OTCQB is a U.S. trading platform operated by the OTC Markets
Group and is the leading marketplace of early-stage and developing
U.S. and international companies. To be eligible, companies must be
current in their financial reporting, undergo an annual company
verification and management certification process, and meet a
minimum bid price test. The OTCQB provides key benefits for
investors with efficient market standards, transparency, and
visibility of companies on the OTCQB market. Streamlined market
standards enable Canadian companies to provide a strong baseline of
transparency to inform and engage U.S. investors. To learn more,
visit www.otcmarkets.com.
Cautionary Note Regarding Forward-Looking
Information.
This release includes forward-looking
information (within the meaning of Canadian securities laws)
regarding the Company and its business. Often but not always,
forward-looking information can be identified by the use of words
such as "expect", "intends", "anticipated", "believes" or
variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would" or "will" be taken, occur or be achieved. Such
statements are based on the current expectations and views of
future events of the management of the Company and are based on
assumptions and subject to risks and uncertainties. Although
management believes that the assumptions underlying these
statements are reasonable, they may prove to be incorrect. The
forward-looking events and circumstances discussed in this release
may not occur and could differ materially as a result of known and
unknown risk factors and uncertainties affecting the companies,
including sign-ups, downloads, engagement, reviews, ability of
Field Trip to realize its business plan, grow its client base or
app user base, use of the Field Trip application by users, uptake
in existing or new programs by clinicians or patients, if any,
acceptance of psychedelic treatments by clinicians, patients, and
regulators, ability or effect of any clinical restructuring, future
changes in regulatory regimes which govern Field Trip’s business,
and/or the ability of Field Trip to realize on its business plan
for broadened, holistic approach to mental health and wellbeing.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on any forward-looking
statements or information. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made and the Company does not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Additional information relating to the Company, can be located on
the SEDAR website at www.sedar.com .
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities.
Neither the TSX Venture Exchange nor its Regulation Services
Provider, have approved the contents of this release or accept
responsibility for the adequacy or accuracy of this release.
CONTACTS:
Field Trip Health & Wellness:Ronan
LevyChairman & CEO (416) 505-0929ronan@fieldtriphealth.com
Investor contacts:Phil Carlson / Sophia
Bashford KCSA Strategic Communications(646) 573-0776 / (929)
246-7307fieldtripIR@kcsa.com
SOURCE Field Trip Health & Wellness Ltd.
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