EastWest Bioscience Inc. (TSX-Venture:EAST) announced Wednesday it’s ready to expand into 20 additional U.S. States with TSX approval.
Last week, the TSX Venture Exchange gave EastWest the green light to sell its products containing CBD south of the border in addition to the previous approval for Kentucky by the TSX on April 16.
Until recently, because of rules imposed by the TSX due to legal uncertainty regarding business operations involving any products derived from hemp, the Company was restricted from doing business in all US jurisdictions except Kentucky.
Now, with the Venture Exchange lifting those restrictions, EAST is free to manufacture and sell its CBD infused products under both U.S. Federal and state laws into states including Alabama, New York, Maryland, Illinois and Tennessee.
Said CEO Rodney Gelineau "EastWest continues to make significant progress in our U.S. expansion; along with our pending Joint Venture with Azema Sciences, EastWest is setting the stage to offer a robust CBD product menu for our U.S. customers."
EAST shares climbed half a cent, or 6.3%, to 8.5 cents, late morning on Wednesday, on volume of 225,000 shares.