Earth Science Tech Inc (OTCMKTS:ETST), the cannabis-focused biotech, is going ahead with its plans to dual list on the Canadian Stock Exchange (CSE). To that end, Earth Science is employing the services of Fasken, a law firm familiar with the intricacies of CSE.
Dual listing is one of the most efficient ways through which firms can access more capital. The cannabis market this year has seen various companies dual list due to the rapid expansion of the market. As such, most of the companies required a new round of funding to deliver projects in good time.
According to Nickolas S. Tabraue, president, director and chairman of ETST, Fasken will deliver the objective. The law firm will provide legal counsel on the mechanisms and other details underlying the whole exercise. This will include helping prepare the right documentation as well as filing it with CSE.
At the heart of the dual listing is the need to acquire more capital for development projects. Particularly, the firm aims to be in the right shape to be able to exploit the new Farm Bill. Particularly, the bill legalizes cultivation, processing and distribution of hemp. Further, the bill allows firms to produce hemp-derived cannabinoids, which is Earth Science’s specialty.
The bill also makes it possible for firms to access bank services, which is a big deal as a basic and essential service for all businesses. As such, firms like Earth Science will be able to commercialize hemp-derived cannabinoids. The firm cites cannabis market data by New Frontier which estimates a $2.3 billion CBD market by 2022.
In light of this, Earth Science Tech hired a new Chief sales officer who will begin operations early next year. David Barbash will specifically focus on pushing the sales of professional products. Further, he will be responsible for pitching new products to potential clients as well as manage and monitor sales. As such, Earth Science expects to be in the right position to seize the expanding opportunities in the market.