This month, inventory in Canadian vegan firm The Very Good Meals Firm Inc. grew to become out there for buy (beneath the ticker VRYYF) to Individuals by the OTCQB market—a enterprise market operated by OTC Markets Group and designed for early-stage and creating United States-based and worldwide corporations. The corporate is behind Canada’s The Very Good Butchers, a model based in 2016 by couple James Davison and Tania Friesen that sells vegan meats and cheeses at Canadian retailers and thru a subscription service, in addition to operates a storefront on the Victoria Public Market promoting its vegan objects and ready meals. The corporate additionally trades on the Frankfurt Inventory Trade in Germany beneath the ticker “0SI” and its enlargement into the OTCQB market is not going to interrupt its buying and selling in different markets.
In June, The Very Good Meals Firm began trading (beneath the ticker VERY) on the Canadian Inventory Trade (CSE) and noticed an 800 % enhance in its inventory worth after its first few days of buying and selling. In August, The Very Good Butchers introduced its plans to broaden distribution to the USA supported by $8.5 million that the corporate raised within the closing of oversubscribed funds from its public providing.
“We’ve seen elevated buying and selling quantity amongst US buyers as our model has develop into extra internationally acknowledged,” The Very Good Meals Firm CEO Mitchell Scott stated. “With an improve to the OTCQB, we count on our shares to develop into extra extensively accessible to a spread of American buyers, and we hope to proceed constructing momentum and rising our shareholder base internationally.”
The Very Good Meals Firm is the second plant-based meat firm to go public following Beyond Meat’s listing on the NASDAQ final Might—the place the inventory costs noticed 163 % surges on the primary day of buying and selling making it the top performing first-day stock of 2019.