THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
28th May 2021
(“DiscovOre” or the “Company”)
DiscovOre plc submits application to begin trading on the OTCQB & Corporate Update
Particulars of the RIS Announcement
Following the successful fundraise and intention to change the Company’s investment strategy, DiscovOre plc has submitted its application to the OTC Markets Group Inc., that upon completion will allow tradability in, arguably, the worlds deepest and most liquid capital market, the United States of America.
As the Company works to become the first Investment Issuer in the U.K. offering exposure to medical psychedelic opportunities, the Company views this as an important step as it prepares to increase market visbility and capture a wider audience of market participants.
The OTCQB is a strong market for DiscovOre plc to have its shares available and conditional on both the requisite legal work and the consent of the Company’s shareholders we will join a host of companies currently operating in the medical psychedelic industry including;
Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) Market Capitalisation: ~US$1bn
Compass Pathways (CMPS) Market Capitalisation: ~US$1bn
Cybin Inc (OTC: CLXPF) Market Capitalisation: ~US$207,000,000
Numinus Wellnes Inc. (OTC: LKYSF) Market Capitalisation: ~US$152,755,898
The Company is actively working with its Corporate Advisor & Legal Counsel to advance this new investment strategy and expect to have an update in the following weeks that is likely to be in conjunction with the Company posting a circular to convene a General Meeting, including amongst proposals, the new investment strategy.
The Company recently incorporated a subsidiary, named Oscillate Limited which will represent the proposed name change (“Oscillate plc”) that will be subject to the consent of the shareholders and will better reflect the proposed direction of the Company, in addition to a new corporate branding exercise.
“The completion of the £3,500,000 strategic financing at the end of April marked a significant moment for the Company. DiscovOre plc is now, exceptionally well financed and the Company is advancing with purpose as we continue to progress with all the requisite legal-work required to enable the business to lawfully invest in this industry.
As recent as last week the BBC broadcast a documentary that amongst many fascinating insights drew acute attention to the revolution we are entering in healthcare and the integral role alternative treatments such as medical psyechedelics play as the world look to improve the lives of many suffering from mental healh conditions.
The application submitted to commence trading on the OTCQB represents the intention the Company has in ensuring that we create tradable conditions, domestic market access for investors and to ensure that the Company is exposed to capital market participants that have to date raised billions in capital in this burgeoning industry.
I look forward to updating the market with the company’s next stage of development in the near term.”
London, 28th May 2021
The Directors of the Company, who have issued this RIS announcement after due and careful enquiry, accept responsibility for its content.
Burns Singh Tennent-Bhohi (Director)
Conrad Windham (Director)
Direct Office Line: +44 (0) 20 3778 0755
Peterhouse Capital Limited
Guy Miller & Mark Anwyl
Telephone: +44 (0) 20 7220 9796