Health and wellness company focusing on psychedelics therapies Silo Wellness Inc. (OTCQB: SILO) is gearing up to secure an uplist to the Nasdaq capital market. The biotechnology company made the announcement after the company’s board of directors voted unanimously in favor of the uplist.
The company’s chief executive Eric Weisblum took it upon himself to announce this development saying the company will kick off the application process on the issue with immediate effect as it will be a major achievement for the company and its shareholders.
“Silo Pharma is proud to announce that we intend to begin the application process to list on the Nasdaq exchange. Uplisting to The Nasdaq Capital Market is an important milestone at Silo Pharma as we continue to execute on our initiatives to build long term shareholder value. The prospective uplisting will increase our visibility in the marketplace as well as expand our institutional shareholder base,” said Weisblum.
After Silo Wellness submits its application, it will wait for regulatory approval which is subject to certain regulatory requirements which the company is fully aware of.