Levitee Labs to start trading on Canadian Securities Exchange on July 21

21 July, 2021

Levitee Labs to start trading on Canadian Securities Exchange on July 21

The British Columbia-based company’s common shares will trade under the ticker symbol ‘LVT’

Levitee Labs - Levitee Labs to start trading on Canadian Securities Exchange on July 21
Levitee is well capitalized and has raised in excess of C$12 million in outside funding

Levitee Labs Inc has received final approval from the Canadian Securities Exchange to list its common shares.

At the opening of the market on July 21, the common shares of Levitee will begin trading under the ticker symbol “LVT.”

Levitee is a functional mushrooms company focused on the development and sale of high potency mushroom extract nutraceuticals and supplies and equipment for mushroom cultivation.

READ: Levitee Labs closes heavily oversubscribed non-brokered private placement for aggregate gross proceeds of $10,570,000

The British Columbia-based company’s leadership team is composed of diverse and complementary skillsets, deriving from past successes in entrepreneurship, clinical research, venture capital, M&A, operations, technology, and psychedelics.

It currently operates two divisions: Sporeo Supply, which manufactures proprietary, premium mushroom cultivation feedstock at its state-of-the-art facility in British Columbia; and MONK-E Nutraceuticals, which produces a line of adaptogenic mushroom-based nutraceutical supplements with a core focus on mushroom extracts.

Through multiple executed letters of intent, Levitee said it hopes to soon complete four acquisitions that will expand its portfolio of assets:

  • ACT Medical Inc, a group of six addiction clinics and three specialized pharmacies treating over 20,000 addiction and pain management patients annually.
  • Earth Circle Organics Inc, an online DTC (direct-to-consumer) and wholesale superfoods and supplements brand primarily operating in the US.
  • BODIE Phytoceuticals Ltd, a functional mushroom-based tea company.
  • 1253135 BC Ltd, a late-stage applicant for a Controlled Drugs and Substances Act (CDSA) license from Health Canada.

Levitee said it is well-capitalized, following the closing of an oversubscribed non-brokered private placement in February 2021, which raised aggregate gross proceeds of C$10,570,000.

To date, the company added it has raised in excess of C$12 million in outside funding.

“We believe the timing could not be better for us to enter the public markets on the CSE, an exchange well recognized for innovators and disruptors,” said Levitee CEO Pouya Farmand in a statement.

“We are early in a truly exciting period in healthcare where psychedelics and mushroom-based therapies and supplements represent an opportunity to provide meaningful benefits to millions of people in need where conventional medicines have collectively failed in the areas of mental health, chronic pain and substance abuse. We are cementing cornerstones of our diversified growth strategy that will distinguish us as a market leader in multiple verticals and we look forward to sharing more developments respecting our roll-up strategy and activities with shareholders.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

via https://www.proactiveinvestors.co.uk/companies/news/955514/levitee-labs-to-start-trading-on-canadian-securities-exchange-on-july-21-955514.html

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