Home News Industry News

SEC-qualified Stock Approved for Private California Cannabis Company

Industry News Brooklin Martino

According to the author, Bryan McGovern, the first-ever cannabis and hemp stock for US investors have been launched after being qualified by the Securities and Exchange Commission (SEC). 

After being qualified, Goldenseed, a company located up the northern coast of California, has the intention to offer one million shares of its very own class B common stock for the price of only 10 US dollars. This, however, will have a restriction of 10 stock shares minimum per investor. 

The decision made by the federal regulator signals a shifting outlook on how the business of cannabis is viewed in today’s world. 

INN was informed that the process of obtaining a qualification from the federal authority is similar to the items required for an initial public offering: two years of publicly available financial records and publication of both the business operations and the risks associated with them, said Kendall Almerico, Goldenseed's securities counsel.

As stated by the CEO of Goldenseed, Scott Goldie, the corporation elected to provide its stock using this route in contrast to pursuing a public record in Canada, the epicenter of the public capital markets for cannabis, to maintain control of its growth.

The company has high hopes that investors will seek interest in Goldenseed through their stock offering. 

Through the website, Goldenseed officially presented its stock to the public this past Monday.

Source

Author Brooklin Martino

 

Share

 

Other news