GABY's DTC Eligibility makes acquiring shares in the company significantly easier for US investors
SAN DIEGO, CA / ACCESSWIRE / January 6, 2022 / GABY Inc. ("GABY" or the "Company") (CSE:GABY)(OTCQB:GABLF), a California consolidator of cannabis dispensaries and the parent company of San Diego's Mankind Dispensary ("Mankind"), is pleased to announce the Company's recent eligibility approval by the Depository Trust Company (DTC) under the symbol "GABLF." The company's common shares will continue to trade on the Canadian Securities Exchange ("CSE") under the symbol "GABY."
The DTC (a subsidiary of the Depository Trust & Clearing Corporation) manages the electronic clearing and settlement of publicly traded companies. When a company has gained approval to be traded through the DTC, they are considered to be "DTC eligible." As one of the world's largest securities deposits, the DTC provides security and trust for investors who might otherwise be wary of non-DTC eligible companies.
Canadian investors or those trading via the CSE will continue to have access to the Canadian Depository for Securities Limited (CDS). CDS is a centralized depository service and electronic clearing and settlement system used in Canada and provides the trading infrastructure and technology to the Canadian capital markets.
"This is another significant step forward for GABY and its investors," said Founder and CEO Margot Micallef. "There are barriers that make it challenging for U.S. investors to acquire cannabis stocks. By gaining DTC eligibility, GABY shares are eligible to be cleared by the DTC in the U.S. and CDS in Canada, making GABY shares easier for investors to access in both countries. This gives us a strong foundation as we prepare to deliver substantial progress for our investors in 2022."
The DTC's automated processes of electronically clearing securities accelerates the process for investors and brokers, allowing a substantially larger number of investors to trade the company's shares.
About GABY Inc.
GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind is a well-known, and highly respected dispensary with deep roots in the California cannabis community operating in San Diego, California. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Lulu's™ and Kind Republic™ through Mankind, manufactures Kind Republic, and distributes all its proprietary brands through its wholly owned subsidiary, GABY Manufacturing. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation, and cannabis, GABY is poised to grow its retail operations both organically and through acquisition.
GABY's shares trade on the CSE under the symbol "GABY" and on the OTCQB under the symbol "GABLF". For more information on GABY, visit GABYInc.com
Media Contact:
Senior Communications Manager
Charlie Rohlfs
(631) 579-0858
[email protected]
General
Margot Micallef, Founder & CEO
or Investor Relations at [email protected]
Disclaimer and Forward-Looking Information
The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements include, but are not limited to, the Company's future business strategy, including its plans to expand organically and through future acquisitions. Although GABY believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because GABY can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Without limitation, these risks and uncertainties include: the severity of the COVID-19 pandemic; risks associated with the cannabis industry in general; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal, state and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; the size of the medical-use and adult-use cannabis market; competition from other industry participants; adverse U.S., Canadian and global economic conditions; failure to comply with certain regulations; and departure of key management personnel or inability to attract and retain talent. GABY undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Each of Mankind and GABY Manufacturing, are subsidiaries of GABY and hold a cannabis license in the State of California. Readers are cautioned that unlike in Canada which has Federal 032320-F legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), in the United States ("U.S."), cannabis is largely regulated at the State level. Cannabis is legal in the State of California; however, cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. To the knowledge of the Company, the businesses operated by each of GABY's subsidiaries are conducted in a manner consistent with the State law of California, as applicable, and are in compliance with regulatory and licensing requirements applicable in the State of California, respectively. However, readers should be aware that strict compliance with State laws with respect to cannabis will neither absolve GABY, or its subsidiary of liability under U.S. federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought against any of GABY, or its subsidiary. Any such proceedings brought against GABY, or its subsidiary may materially adversely affect the Company's operations and financial performance generally in the U.S. market specifically
SOURCE: GABY Inc.