Québec’s MTL Cannabis Corp (CNSX: MTLC) (OTCMKTS: MTLNF) (FRA: J4E) was just upgraded to the top tier OTC Markets Group Inc (OTCMKTS: OTCM) marketplace.
Companies seeking to list shares on this exchange must meet stringent requirements, including maintaining a minimum share price of US$0.25 for 90 days prior to applying and having at least US$2 million worth of assets.
“We feel that OTCQX will provide a valuable platform to help build visibility among U.S. investors,” chief executive Michael Perron said in a press release on Tuesday. “This step underscores our commitment to reaching a broader investor base, increasing liquidity and positioning MTL as a key player in the global cannabis industry.”
The over-the-counter (OTC) markets have a lengthy history. They emerged hundreds of years ago, eventually serving as a means of trading securities without relying on major trading platforms like the New York Stock Exchange after it was established in 1792.
Originally, these OTC securities were literally traded over-the-counter in broker offices. Written requests for shares would be passed across the table to brokers who acted as intermediaries for the transactions. Although the marketplaces operate completely electronically now, their name stuck as time passed.
The United States Securities and Exchange Commission started regulating the OTC Markets in 1934 — several years after the National Quotation Bureau was created and began publishing pink and yellow sheets with daily bid and asking prices for OTC stocks and bonds.
The NQB’s establishment in 1913 is considered to be a key milestone for the modern-day evolution of the markets. Prior to that date, all negotiations were informal with no established standard source of pricing information.
Read more: Michigan dispensary has free doobie for anyone with legit photo of Bigfoot
Brothers Rich & Mitch founded MTL
The Clements, two passionate growers, established the company in 2018. They focus on indoor-grown bud, producing cultivars such as Sage n’ Sour, Cookies n’ Cream and Strawberry n’ Mintz.
The pair and their colleagues currently run a 57,000-square-foot cultivation facility in Pointe-Claire, Québec and are capable of producing up to 13,000 kilograms of product per annum.
“As a flower-first company built for the modern street, MTL Cannabis Corp. operations use proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses,” the company once boasted.
For fiscal 2024, ending Mar 31. last year, MTL reported a 165.7 per cent surge in revenue at C$83.1 million.
But, in fiscal Q3 of 2025 ending Dec. 31, the grower reported a net loss of C$1.2 million.
Read more: Village Farms largely abandons produce ambitions to focus on cannabis
Follow Rowan Dunne on LinkedIn
rowan@mugglehead.com
