Clip Money Inc. Announces DTC Eligibility of its Common Shares

Rhea-AI Summary

Clip Money Inc. (OTCQB: CLPMF) announced its common shares are now DTC service eligible, enhancing liquidity and facilitating electronic clearing in the U.S. This eligibility allows for faster trade execution and broader access for new investors. Clip Money operates a self-service deposit system for businesses, allowing deposits at retail locations via ClipDrop Boxes, ensuring funds are credited within a business day. Trading on the OTCQB Venture Market began on September 1, 2022.

Positive

• DTC service eligibility enhances liquidity for existing investors.
• Faster trade execution speeds and precise settlement are now available.
• Increased accessibility for new investors who previously could not trade shares.

Negative

• None.

TORONTO, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce that its common shares are now DTC service eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”) in the United States.

With DTC eligibility, existing investors benefit from potentially greater liquidity, faster trade execution speeds, and precise settlement of trades. As many broker dealers and banks require DTC eligibility, the Company’s common shares are now accessible to new investors that may have previously been unable to access them.

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be “DTC Eligible”.

On September 1, 2022, the Company announced that it had received approval from the OTC Market Group Inc. to commence trading on the OTCQB Venture Market under the symbol “CLPMF”. Trading on the OTCQB Venture Market commenced on September 1, 2022. Clip Money’s common shares also continue to trade on the TSX Venture Exchange.

About Clip Money Inc.

Clip Money operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business banking transactions. Combined with mobile user applications, Clip Money offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Joseph Arrage
Chief Executive Officer

IR@clipmoney.com
tel: 844-593-2547

FAQ

What does DTC eligibility mean for Clip Money Inc. (CLPMF)?

DTC eligibility allows Clip Money's common shares to be electronically cleared and settled, enhancing liquidity and attracting new investors.

When did Clip Money Inc. begin trading on the OTCQB Venture Market?

Clip Money Inc. commenced trading on the OTCQB Venture Market on September 1, 2022.

How does Clip Money's deposit system work?

Clip Money operates a self-service deposit system through ClipDrop Boxes, enabling businesses to deposit cash conveniently and have it credited to their bank accounts usually within one business day.