POSaBIT announces trading on the OTCQB Venture market
TORONTO AND SEATTLE – (COMMERCIAL THREAD) – POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF, OTCQB: POSAF), a leading financial technology company providing unique payment processing and point of sale (POS) systems for businesses that sell only Species, with a focus on the cannabis industry, announced today that it is currently trading on the OTCQB Venture marketplace. The Company’s common shares are listed in the United States on the OTCQB Venture Market under the symbol “POSAF”. POSaBIT has applied for DTC eligibility through the Depository Trust Company (“DTC”) and expects to receive DTC approval soon.
“We are extremely pleased to announce our entry into the OTCQB Venture Market on an important day for our business. Not only does this provide our US-based investors with a new avenue for commerce, but it is a significant step on POSaBIT’s long-term path of continued growth and expansion, ”said Ryan Hamlin, CEO / co-founder of POSaBIT. “In addition, we expect to receive DTC eligibility in the very near future, which will provide even more flexibility to our shareholders. ”
The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for the analysis and value of securities. OTC Markets Group makes it easy for investors to trade through the broker of their choice and enables companies to improve the quality of information available to investors. Companies listed on the OTCQB must be up-to-date in their financial reports and undergo an annual management audit and certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors with better visibility to improve trading decisions.
DTC is a subsidiary of The Depository Trust & Clearing Corporation, based in the United States, which manages electronic clearing and settlement of publicly traded companies. Securities eligible for electronic clearing and settlement through DTC are considered “DTC eligible”. This electronic method of securities clearing speeds up receipt of stocks and cash and thus speeds up the settlement process for investors and brokers, allowing stocks to be traded on a much wider selection of brokerage firms. In addition to being traded in the United States on the OTCQB growth market, the Company’s common shares will continue to trade on the Canadian Stock Exchange (CSE) under the symbol “PBIT”.
POSaBIT (CSE: PBIT) is a financial technology company that provides unique and innovative blockchain-enabled payment processing and point-of-sale systems for businesses using cash only. POSaBIT specializes in solving problems for complex, high-risk emerging industries like cannabis with a compliant, user-friendly all-in-one solution using high-end hardware. POSaBIT’s unique solution provides a more secure and transparent environment for merchants while creating a better overall consumer experience. For more information visit: www.posabit.com.