Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) Increases Investor Liquidity Options with DTC Eligibility
- PLUS recently announced DTC Eligibility for the U.S. Market
- Company’s recent IPO raised C$20 million
- Company plans to use proceeds to expand its operations in California
Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) has just made it easier for investors to trade its securities. The company recently announced that its shares are now Depository Trust Company (DTC) eligible (http://nnw.fm/gJu6q). DTC eligibility will allow Plus Products shares to be deposited into a DTC account, from which they can be transferred between brokers and transfer agents. Having an intermediary like DTC handling transfers ensures a high level of integrity and accuracy, since DTC acts as both custodian and clearing house. In addition, eligibility provides access to other DTC services, such as its FAST system and DWAC transactions. By making trading and transfers easier, DTC eligibility increases market liquidity, fulfilling an essential function of securities markets: access to and exit from investments. DTC, with over $35 trillion worth of securities on deposit, is the largest securities depository in the world.
This will likely be reassuring news for the many investors who took part in Plus Products’ recent public share offering. Late last year, the company successfully completed an initial public offering (IPO) of 6,153,847 subordinate voting shares at a price of C$3.25 per offered share for total gross proceeds of C$20 million (http://nnw.fm/NBni5). The offered shares were listed on the Canadian Securities Exchange (CSE) and have been trading since Monday, October 29, 2018, under ticker symbol ‘PLUS’. Plus Products intends to use the IPO proceeds to ramp up production capacity, further automate manufacturing processes, develop new products and boost working capital.
The outlook for Plus Products is as sunny as California, where it is based. With offices in San Mateo, the company manufactures and markets a unique branded line of cannabis-infused products, focusing on the production of delicious gummies with consistent quality to ensure dosability, which is especially important for maintaining optimum results when the products are used therapeutically. Gummies are chewable sweets or candies, and they’ve got a long pedigree. The first, a gelatin-based confectionery, appeared in England in the late nineteenth century with the name ‘Unclaimed Babies’. Today, they are marketed under the less lamentable label of ‘Jelly Babies’.
Now that recreational cannabis has been legalized in California – since January 2018 – the market is expected to grow by leaps and bounds. It is now the largest cannabis market in the world, with estimated retail sales, in 2018, of $3.4 billion. Sales of $5.0 billion are forecast for 2019, and the market may hit $7.7 billion by 2022. The PLUS product line presently includes five offerings: Refresh (70mg THC and 30mg CBD per tin), Restore (90mg THC and 10mg CBD per tin), Uplift (100mg THC per tin), CBD Relief (100mg CBD per tin) and Create (100mg THC per tin).
PLUS gummies have taken the market by storm. Since its launch in the spring of 2017, the brand has rapidly gained market share, rising to claim second place overall by Q2 2018. During that quarter, the company’s Sour Watermelon SKU was the best-selling gummy product in California. Revenues are growing in tandem. Unit sales amounted to 20,000 during Q2 2017, hitting 241,000 by Q2. As a result, dollar sales rose from $1,070,256 for the year ended December 31, 2017, to $2,450,335 for the year ended June 30, 2018, forging a trend that looks set to continue.
For more information, visit the company’s website at www.PlusProducts.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- PLUS recently announced DTC Eligibility for the U.S. Market
- Company’s recent IPO raised C$20 million
- Company plans to use proceeds to expand its operations in California
Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) has just made it easier for investors to trade its securities. The company recently announced that its shares are now Depository Trust Company (DTC) eligible (http://nnw.fm/gJu6q). DTC eligibility will allow Plus Products shares to be deposited into a DTC account, from which they can be transferred between brokers and transfer agents. Having an intermediary like DTC handling transfers ensures a high level of integrity and accuracy, since DTC acts as both custodian and clearing house. In addition, eligibility provides access to other DTC services, such as its FAST system and DWAC transactions. By making trading and transfers easier, DTC eligibility increases market liquidity, fulfilling an essential function of securities markets: access to and exit from investments. DTC, with over $35 trillion worth of securities on deposit, is the largest securities depository in the world.
This will likely be reassuring news for the many investors who took part in Plus Products’ recent public share offering. Late last year, the company successfully completed an initial public offering (IPO) of 6,153,847 subordinate voting shares at a price of C$3.25 per offered share for total gross proceeds of C$20 million (http://nnw.fm/NBni5). The offered shares were listed on the Canadian Securities Exchange (CSE) and have been trading since Monday, October 29, 2018, under ticker symbol ‘PLUS’. Plus Products intends to use the IPO proceeds to ramp up production capacity, further automate manufacturing processes, develop new products and boost working capital.
The outlook for Plus Products is as sunny as California, where it is based. With offices in San Mateo, the company manufactures and markets a unique branded line of cannabis-infused products, focusing on the production of delicious gummies with consistent quality to ensure dosability, which is especially important for maintaining optimum results when the products are used therapeutically. Gummies are chewable sweets or candies, and they’ve got a long pedigree. The first, a gelatin-based confectionery, appeared in England in the late nineteenth century with the name ‘Unclaimed Babies’. Today, they are marketed under the less lamentable label of ‘Jelly Babies’.
Now that recreational cannabis has been legalized in California – since January 2018 – the market is expected to grow by leaps and bounds. It is now the largest cannabis market in the world, with estimated retail sales, in 2018, of $3.4 billion. Sales of $5.0 billion are forecast for 2019, and the market may hit $7.7 billion by 2022. The PLUS product line presently includes five offerings: Refresh (70mg THC and 30mg CBD per tin), Restore (90mg THC and 10mg CBD per tin), Uplift (100mg THC per tin), CBD Relief (100mg CBD per tin) and Create (100mg THC per tin).
PLUS gummies have taken the market by storm. Since its launch in the spring of 2017, the brand has rapidly gained market share, rising to claim second place overall by Q2 2018. During that quarter, the company’s Sour Watermelon SKU was the best-selling gummy product in California. Revenues are growing in tandem. Unit sales amounted to 20,000 during Q2 2017, hitting 241,000 by Q2. As a result, dollar sales rose from $1,070,256 for the year ended December 31, 2017, to $2,450,335 for the year ended June 30, 2018, forging a trend that looks set to continue.
For more information, visit the company’s website at www.PlusProducts.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
