The Future of Steep Hill
Updated: Sep 21, 2022
Steep Hill Inc. has recently undergone a few changes we wanted to let you in on! On January 31, 2022, Canbud Distribution Corp. announced its successful acquisition of Steep Hill Inc.; Canbud Distribution Corp. “is an early-stage science and technology company focused on providing products and services, including analytical testing services within the hemp and cannabis market sectors” (Canbud, 2022).
Subsequently, on February 14, 2022, Canbud published its press release sharing the exciting news that it would be changing its stock symbol with the Canadian Securities Exchange to “STPH”; “The proposed Company name and stock symbol changes are subject to approval from the Canadian Securities Exchange and its receipt of new CUSIP and ISIN numbers” (Canbud, 2022).
Most recently, this name change has been accepted by the CSE, which allows the company to maintain and advance the Steep Hill brand and business name, while now operating as a publicly-traded entity.
We asked Steep Hill Inc.’s VP of Licensing Arielle Chu, where she saw Steep Hill in the next five years:
"In the next few years, we expect an acceleration of consolidation in the analytical testing space, with multi-state operations coming together under one single brand. Steep Hill's current laboratory network, of ten contracted licensee labs, will continue to be the premier testing entity, expanding not only nationally into other states but on an international level as well. We believe there will be a move towards increased regulation and standardization in testing, which is crucial to patient and consumer safety and ensuring consistency in methodology. Steep Hill is poised to continue its tradition of scientific integrity and assisting regulators and industry participants in setting a gold standard in compliance" - Arielle Chu, VP of Licensing, Steep Hill Inc.
With so much more potential left for growth, Steep Hill Inc. embarks on this new, exciting chapter in which it can continue to foster its well-established lab network both in and outside of the U.S.
If you’re a cannabis testing lab or other testing services lab owner looking to dominate your respective territory, consider filling out our licensee application to join our network of highly qualified analytical cannabis labs. We look forward to hearing from you!
Inc, S. H. (n.d.-a). Canbud Distribution Announces the Closing of its Acquisition of Steep Hill Inc. Newsfile. Retrieved April 20, 2022, from https://www.newsfilecorp.com/release/112107/Canbud-Distribution-Announces-the-Closing-of-its-Acquisition-of-Steep-Hill-Inc
Inc, S. H. (n.d.-b). Canbud Distribution Corp. Announces Intention to Change Name and Stock Symbol. Newsfile. Retrieved April 20, 2022, from https://www.newsfilecorp.com/release/113725/Canbud-Distribution-Corp.-Announces-Intention-to-Change-Name-and-Stock-Symbol