Benzinga | May 4, 2021 07:50AM EDT

Organicell Says Begins Up-Listing Process On NASDAQ Exchange

Organicell Regenerative Medicine, Inc. (OTC:BPSR), a clinical-stage biopharmaceutical company dedicated to the development of regenerative therapies, today announced that it is currently exploring options to up-list its common stock to the NASDAQ Capital Market tier of the NASDAQ Stock Market, LLC.

To qualify and be approved for such up-listing, the Company would be required to meet all financial, share price and corporate governance listing requirements of NASDAQ, which for the NASDAQ Capital Market includes a minimum of $5 million in shareholder equity and a minimum trading price of $4.00 per share. In order to meet these criteria, the Company would likely need to raise additional capital in one or more private or public offerings, as well as implement a reverse stock split or other recapitalization to meet the minimum trading price requirement. There can be no assurance that the Company will be able to do so or, that NASDAQ will list our shares of common stock for trading even if we do meet the minimum listing requirements.

"Up-listing on the NASDAQ Exchange is a strategic priority for Organicell. We want to ensure liquidity for our shareholders, access to the capital markets to fund our clinical trials and a heightened visibility for our company," said Albert Mitrani, CEO of Organicell.