Safe Supply Streaming Co. Ltd. (SPLY:CSE; SSPLF:OTCQB; QM4:FSE) has announced in a press release on January 12, 2023, that the company has received approval to begin trading on the OTCQBA Venture market.
Safe Supply's focus is primarily on drug policy reform and the development of infrastructure to combat the drug crisis in a way that minimizes harm done to those with substance abuse disorders, including developing clinics and safe alternatives to street drugs. The company hopes that listing shares on the OTCQB will help the company's development by constructing shareholder value and enhancing the company's financial portfolio. The company's shares are already available on the Canadian Securities Exchange and the Frankfurt Stock Exchange. The company has also stated that it has submitted a pending application to the Depository Trust & Clearing Corp.
CEO Bill Panagiotakopoulos commented, "As we continue to fulfill our mission of bringing a responsible end to the war on drugs, it is of key importance that our progress is shared with a broad investor base. By trading on the OTCQB, we can achieve increased visibility of Safe Supply to U.S. investors and improve our overall liquidity as we grow our global shareholder base. We are pleased to offer yet another avenue for trading our shares and look forward to further increasing the global awareness around Safe Supply."
A Changing Landscape
As anti-drug policies have failed to affect the drug crisis, the public and policymakers have had to re-evaluate their relationship with substances. "Safer-Supply" programs have become a prominent tool in the effort to prevent overdose deaths.
According to Andrew Ivsins and several other researchers with the National Institutes of Health in 2020, safer supply programs have seen success across Canada. The researchers urged widespread adoption of the programs and revised regulation in the United States based on their positive findings related to the Canadian programs.
Paul Moakely with Time Magazine in 2021 reported that, in Vancouver, such programs had created an infrastructure to deliver pharmaceutical-grade opiates, which had not been contaminated with deadly amounts of fentanyl, to people suffering from substance abuse disorders. According to the report, the program had the support of the local government, which provided it with CA$3 billion in funding.
Expanding Availability for Investors
Streetwise Reports documented that in October of 2023, the company was listed on the Canadian Securities Exchange as "SPLY" and closed at CA$0.215 per share on October 3, later moving up that Wednesday to CA$0.23.
The company reported that it had received foundational investments from Safe Supply Licensing Co., a company that occupies a similar niche in drug reform, and CannaLabs, a company licensed by Health Canada for research on substances such as MDMA, DMT, and cocaine.
In terms of catalysts, the company's investor presentation reports that the company has a pipeline of early-stage companies that it is looking to fold into its supply ecosystem and hopes to begin putting together this network within six to twelve months.
Ownership and Share Structure
Streetwise Ownership Overview*
Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 3.66% of the company.
According to Reuters, Director Jonathan Goldman owns 1.60% of the company with 1.18 million shares, Chairman and CEO Vasislios Panagiotakopoulos owns 1.19% of the company with 0.88 million shares, Director Alexander Somjen owns 0.27% of the company with 0.20 million shares, Director Kelvin Wah Chin Lee owns 0.20% of the company with .15 million shares, Director Michael Galego owns 0.18% of the company with 0.14 million shares, President Ronan Levy owns 0.14% of the company with 0.10 million shares, Director Brianna Davies owns 0.07% of the company with 0.05 million shares, and Vice President of Corporate Development Settimio Coscarella owns 0.01% of the company with less than 0.01 million shares.
Reuters reports that the rest is in retail.
According to Reuters, there were 73.92 million shares outstanding with 71.23 million free float traded shares, while the company has a market cap of CA$5.8 and trades in the 52-week period between CA$0.07 and CA$0.37.
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- Safe Supply Streaming Co. Ltd. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Safe Supply Streaming Co. Ltd.
- Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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