TORONTO, July 27, 2021 (GLOBE NEWSWIRE) — Field Trip Health Ltd. (TSX: FTRP; FTRP.WT; OTCQX: FTRPF) (“Field Trip” or the “Company”), a global leader in the development and delivery of psychedelic therapies, announced today that it has received final approval from The NASDAQ Stock Market LLC (“NASDAQ”) to list its common shares on the NASDAQ Global Select Market. The Company’s shares will begin trading at market open on Thursday, July 29, 2021 with the ticker symbol FTRP.
Hannan Fleiman, Field Trip’s President, said “Listing on the Nasdaq Global Select Market, NASDAQ’s top tier, is a mark of achievement and stature for listed companies who must meet the highest the highest financial and liquidity qualifications for inclusion. We are proud of the rapid progress we have made in a relatively short period of time and this accomplishment is a testament to the efforts of our employees and partners. We look forward to building value for our shareholders as we enter the next stage of our growth.”
Dr. Ryan Yermus, Field Trip’s Chief Clinical Officer, added, “Listing on the leading securities exchange for biotech companies will enable more investors both in the U.S. and globally to support Field Trip as we advance our ground-breaking work in the psychedelics industry. We continue to make steady progress with the development of FT-104, a novel psychedelic molecule, with GMP production underway in preparation for Phase 1 studies, and other strategic initiatives which will further strengthen our leadership position in the industry.”
The Company’s common stock will continue to trade in Canada on the Toronto Stock Exchange (TSX) under its current symbol FTRP; and concurrent with the listing of Field Trip’s common shares on NASDAQ in the US, the shares will cease to be quoted on the OTCQX. The Company has previously completed the process to ensure its shares are eligible for electronic clearing and settlement through the Depository Trust Company (DTC).
Concurrent with the listing, Ronan Levy and Ellen Lubman will join the compensation committee and Mujeeb Jafferi and Dr. Ryan Yermus will resign as directors of the Company. Mr. Jafferi and Dr. Yermus will continue to serve as Field Trip’s Chief Operating Officer and Chief Clinical Officer, respectively.
About Field Trip Health Ltd.
Field Trip is a global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale, we help people in need with a simple, evidence-based way to heal and heighten engagement with the world.
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For further information, contact Ronan Levy, Executive Chairman and a Director at Field Trip, at 1 (833) 833-1967.
Cautionary Note Regarding Forward-Looking Information.
This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip, and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including the timing and results of its research and development programs, approval of phase 1 human trials, if any, the risk that future clinical studies may not proceed as expected or may produce unfavorable results, the opening of additional clinics, the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the Toronto Stock Exchange, nor its Regulation Services Provider, nor the OTC Markets have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.