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Emerald Plants Health Source Inc. (EPHS) is taking advantage of the reverse merger practice to go public according to the newly made filing with the Securities Exchange Commission (SEC). If EPHS is able to reach an underwritten offer of $40 million or above then they’ll be able to trade on a senior stock exchange, however it’s most likely they’ll trade on OTC Markets.

EPHS filed an application called the Access for Medical Purposes Regulation to Health Canada on March 9th. This submission includes an Evidence Package and a Request for Information that will decide if EPHS is eligible for licensing, and if so, they will be granted a license.

The company will still have to apply for a sales license and provide its first cannabis crop to be inspected for contaminants and for environmental impurities. If it passes these stages then EPHS will be able to sell cannabis through licensed distributors.

This would definitely make EPHS IPO stock a valuable one if the company is able to pass all the stages within the Canadian government’s legal regulations for the cultivation and sale of legal cannabis.