XPhyto Therapeutics Corp (CSE:XPHY), the science-focused cannabis company, announced Tuesday that its shares have begun trading on the Frankfurt Stock Exchange under the symbol ‘4XT.’
The Vancouver-based company is developing analytical testing, processing, and formulation capability in Canada and research, cultivation, extraction, import, distribution, and manufacturing in Germany.
It has 100% ownership of the German cannabis company Bunker Pflanzenextrakte GmbH, operating from a decommissioned German Air Force command center and nuclear bunker near Munich, which is the largest cannabis laboratory in Germany.
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"Given XPhyto's German cannabis licence and its commitment to building import and distribution capability in the country, a Frankfurt listing was a logical choice," said Hugh Rogers, XPhyto’s CEO.
"We are excited to help facilitate the opportunity for German investors to participate in their own emerging cannabis industry,” Rogers said in a statement. “XPhyto considers itself one of the only German focused cannabis companies in the world."
The German Federal Institute for Drugs and Medical Devices (BfArM) recently granted Bunker Pflanzenextrakte a cannabis cultivation and extraction licence for scientific purposes.
Shares of XPhyto were up 5.8% at C$1.28 on Tuesday midday on the Canadian Securities Exchange.
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