Recreational cannabis group Friday Night Inc. began trading today in New York - on the OTCQB index.
The stock, changing hands under the symbol 'TGIFF', was up over 21% to US$0.4838 in New York.
The firm received approval for the change after it supplied the OTC Markets with all required documents, including audited financial statements for the last two years.
“Advancing our listing tier to the OTCQB is a great step in our development as it increases our awareness in the USA," said Joe Bleackley, Friday Night Inc.s director of corporate communications.
"We take pride in delivering accurate and current information to our shareholders and the OTCQB listing will bring a new level of investor confidence in Friday Night Inc."
The group owns and controls cannabis and hemp based assets in Las Vegas, Nevada, where it is bidding to exploit the recreational cannabis market.
It owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands.
It also owns 91% of Infused MFG, which generates hemp-based, CBD products, and high quality organic botanical ingredients.
There's been plenty of newsflow in recent weeks and last week, the group inked a production deal with a major dispensary chain in Nevada.
The chain will supply trim as a raw material to the group's subsidiary AMA, which will extract and process the materials into high grade concentrates.
Trim is defined as the excess snipping of leaves from the buds of marijuana plants and the dispensary will provide a minimum of 100 pounds per month.
AMA estimates it will then produce over 20,000 half-gram units every month.
Friday Night Inc.posted around US$1mln of revenue and gross profit of $230,714 in the last six weeks of the fourth quarter in its year to July 31.
It said it's now building on these numbers and is due to announce first quarter results in December (this month).
-- Updates share price --