Hemostemix Announces OTCQB Listing and DTC Eligibility
October 30, 2018CALGARY, Alberta, Oct. 30, 2018 — Hemostemix Inc. (“Hemostemix” or the “Company”) (TSX VENTURE: HEM; OTCQB:HMTXF) is pleased to announce the Company has been approved for up-listing its common shares for trading on the OTCQB Venture Market, a US trading platform that is operated by the OTC Markets Group in New York. The Company will trade on the OTCQB under symbol “HMTXF” and the Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “HEM”. In addition, the Company is pleased to announce that it has secured DTC eligibility by The Depository Trust Company (“DTC”) for electronic settlement and transfer of its common shares in the United States.
The OTCQB is the premier marketplace for entrepreneurial and development stage US and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. The ability to have the Company’s shares electronically transferred between brokerages in the US is significantly more convenient and reduces the costs incurred in trading shares. When shares are able to trade electronically, existing investors benefit from greater liquidity and execution speeds, while opening the door to new investors that may have been previously been restricted from the Company’s shares.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation (“DTCC”), and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers reducing transactional costs for participating brokerage firms, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
“Listing on the OTCQB is part of a long-term strategy to introduce the Company to a broader audience and the timing of this listing complements the recent progress we have made with the enrollment of several new clinical trial sites throughout the United States,” said Kyle Makofka, President and CEO of Hemostemix. “We expect our presence on the OTCQB, together with having DTC eligibility, to further enhance trading liquidity and provide additional exposure to US and institutional investors who are looking to align with progressive companies like ours focussed on regenerative medicine, which is currently the leading edge for biotech investment in the United States.”
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