Element Nutritional Sciences Receives DTC Eligibility

Rhea-AI Summary

Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF) has announced that its common shares are now eligible for electronic clearing and settlement via The Depository Trust Company (DTC) in the U.S. This milestone facilitates trading on the OTCQX® Best Market, allowing for broader access through various brokerage firms. The OTCQX market requires companies to adhere to high financial standards and corporate governance. Element specializes in nutraceutical products aimed at consumers over 50, with its lead product, Rejuvenate™, targeting age-related muscle loss.

Positive

• DTC eligibility enhances trading capabilities and accessibility for investors.
• Potential listing on OTCQX may improve visibility and attract more investors.

Negative

• None.

BURLINGTON, Ontario--(BUSINESS WIRE)-- Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF; FRANKFURT:93X) (the “Company” or “Element”), is pleased to announce that the Company has received confirmation from The Depository Trust Company ("DTC") that its common shares ("Common Shares") are now eligible for electronic clearing and settlement through DTC in the United States. DTC eligibility is a milestone towards the trading of the Company’s Common Shares on the OTCQX® Best Market ("OTCQX").

DTC is a subsidiary of The Depository Trust & Clearing Corporation, a United States company that manages the electronic clearing and settlement of publicly-traded companies. Securities that are eligible to be electronically cleared and settled through 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, enabling the stock to be traded over a much wider selection of brokerage firms.

The OTCQX is the top tier of OTC Markets on which 11,000 U.S. and global securities trade - including some of the world’s leading brands. OTCQX® Best Market companies are required to meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

About Element

Element is an innovative and research driven Canadian nutraceutical company specializing in the development of science-based products for the global consumer packaged goods market, with a portfolio focused specifically on men and women over the age of 50. Element’s lead product, Rejuvenate™, is a proprietary formulation that is clinically proven to assist in the rebuilding, restoration and rejuvenation of natural loss of muscle mass due to aging or other medical conditions. Element also offers JAKTRX™, an elite brand of performance supplements. Element was founded in 2015 and is located in Burlington, Ontario.

To learn more about Element, visit elmtinc.com.

More information about Rejuvenate™ can be found at: www.rejuvenatemuscle.com

Forward Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: a successful application to trade on the OTCQX.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; expectations regarding the size of the United States and Canadian health, nutraceutical and wellness markets and changing consumer habits; the viability of the Company’s products; availability of distribution channels for the Company’s product offerings; the ability of the Company to successfully achieve its business objectives; plans for expansion; successful development of the Company’s proposed products; the presence of laws and regulations that may impose restrictions or recalls on the sale of the Company’s products in the United States and Canada; customer and distributor relations; fluctuations in securities markets; and the inability of the Company to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211208005198/en/

Stuart Lowther

Chairman, CEO and President

ir@elementnutrition.com

416-467-5229

Marc Charbin

Investor Relations

ir@elementnutrition.com

416-467-5229

Source: Element Nutritional Sciences Inc.

FAQ

What is the significance of Element Nutritional Sciences receiving DTC eligibility?

The DTC eligibility allows Element Nutritional Sciences' shares to be electronically cleared and settled in the U.S., enhancing their trading capabilities and potentially leading to a listing on the OTCQX.

What are the benefits of trading on the OTCQX for ELNSF?

Trading on the OTCQX requires companies to meet high financial standards, which may increase investor confidence and broaden the shareholder base for ELNSF.

When did Element Nutritional Sciences announce DTC eligibility?

Element Nutritional Sciences announced DTC eligibility in their recent press release without a specific date provided.

What type of products does Element Nutritional Sciences focus on?

Element Nutritional Sciences specializes in nutraceutical products, particularly aimed at men and women over the age of 50, with a focus on muscle mass restoration.