To Begin Trading on the OTCQB Venture Market Under the Symbol “SILO” Today
NEW YORK , Oct. 14, 2020 (GLOBE NEWSWIRE) — Silo Pharma, Inc. (OTCQB: SILO) a developmental stage biopharmaceutical company focused on the use of psilocybin as a therapeutic, today announced its successful uplisting from the OTC Pink Market to the OTCQB® Venture Market. Silo Pharma will continue to trade under the symbol “SILO.”
OTCQB® Venture Market is operated by the OTC Markets Group, Inc. and is designed for early-stage and developing U.S. and international companies, and offers companies the opportunity to build their visibility, expand their liquidity and diversify their shareholder base. To be eligible for quotation on the OTCQB®, companies must meet certain reporting requirements, have audited annual financials by a PCAOB auditor, post initial and annual verifications and management certifications. Companies must also meet a minimum bid price test and other conditions. The OTCQB® is recognized by the Securities and Exchange Commission as an “established public market” for determining the public market price, allowing broker dealers and their customers to more easily trade stocks that may have been previously forbidden due to the confines of the less rigorous Pink Open Market standards.
“Moving to the OTCQB® Venture Market will provide us with greater visibility within the investment community as we pursue our business plan in psychedelic therapeutics, including psilocybin,” said Eric Weisblum, CEO of Silo Pharma. “A listing on the OTCQB® Venture Market significantly broadens the universe of potential investors”. Historically, companies that have made the move up to the OTCQB® tier have experienced increased investor awareness and visibility of their common stock.
About Silo Pharma
Silo Pharma is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, PTSD, Parkinson’s, and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the health care industry. For more information, visit www.silopharma.com.
Safe Harbor and Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of words “could”, “believe”, “anticipate”, “intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential” and similar expressions that are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Silo Pharma, Inc. (“Silo” or “the Company”) to differ materially from the results expressed or implied by such statements, including changes to anticipated sources of revenues, future economic and competitive conditions, difficulties in developing the Company’s technology platforms, retaining and expanding the Company’s customer base, fluctuations in consumer spending on the Company’s products and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company disclaims any obligations to publicly update or release any revisions to the forward-looking information contained in this presentation, whether as a result of new information, future events or otherwise, after the date of this presentation or to reflect the occurrence of unanticipated events except as required by law.
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