NEXE Innovations Announces Approval to Begin Trading on the OTCQB in the United States

Rhea-AI Summary

NEXE Innovations announced that its common shares have been approved for trading on the OTCQB Venture Market in the United States under the ticker symbol 'NEXNF'.

This approval, effective June 5, 2024, aims to grow NEXE's shareholder base in the U.S., highlighting its BPI-certified compostable coffee pod compatible with popular brewing machines like Keurig. NEXE's in-house manufacturing and strong financial position are emphasized as strategic advantages.

The OTCQB is recognized by the SEC as an established public market, requiring companies to meet specific financial and transparency standards.

Positive

• Approval to trade on OTCQB increases NEXE's access to U.S. investors.
• Potential expansion of U.S. shareholder base.
• Emphasis on BPI-certified compostable coffee pods, indicating a strong product focus.
• Strong in-house manufacturing capabilities near the Canada-U.S. border.
• Compliance with OTCQB quality standards enhances transparency and investor confidence.

Negative

• Need to meet and maintain OTCQB's stringent financial reporting and bid price requirements.
• Ongoing annual company verification and management certification may increase operational overhead.

WINDSOR, ON, June 5, 2024 /PRNewswire/ - NEXE Innovations Inc. ("NEXE", the "Company", "we", "us" or "our") (TSXV: NEXE) (Frankfurt: NX5) (OTCQB: NEXNF), a leader in innovative compostable materials solutions, is pleased to announce that the Company's common shares have been approved to trade on the OTC Market's Group Inc.'s OTCQB Venture Market (the "OTCQB") in the United States, under the ticker symbol "NEXNF", effective as of the open of trading on June 5, 2024.

"We believe this listing will allow us to further grow our shareholder base in the United States, a key market for our products," stated Ash Guglani, President & Co-founder, NEXE Innovations, "We are excited to share our story and how we are revolutionizing the coffee industry with our BPI-certified compostable coffee pod, compatible with popular brewing machines like Keurig*.  With our end-to-end in-house manufacturing facility based on the border of Canada-U.S. and strong financial position, in our opinion, NEXE is well-equipped to help coffee companies achieve their sustainability goals while disrupting the single-use beverage plastics market."

The OTCQB is recognized as an "established public market" by the U.S. Securities and Exchange Commission and is a leading market for U.S. and international companies in the entrepreneurial and development stage. 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. We believe the OTCQB quality standards provide a strong baseline for transparency, as well as the technology and regulation to improve the information and trading experience for investors. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with the goal of enhancing liquidity and achieving a fair valuation.

OTC Markets Group Inc. is an American financial market that provides price and liquidity information for almost 10,000 over-the-counter securities. The group's headquarters are in New York City. OTC securities are organized into three markets to inform investors of opportunities and risks: OTCQX, OTCQB, and Pink.  

 *NEXE Innovations Inc. is not affiliated with, endorsed, or sponsored by Keurig®. Keurig® is a registered trademark of Keurig Dr Pepper Inc.

**NEXE Innovations Inc. is not affiliated with, endorsed, or sponsored by Nespresso®. Nespresso® is a registered trademark of Société des Produits Nestlé S.A

About NEXE Innovations Inc.

NEXE Innovations is focused on providing innovative compostable material solutions and packaging to the B2B segment to help businesses achieve their sustainability goals. NEXE Innovations has developed a proprietary and patented compostable material that can withstand heat, pressure, and water. Our flagship product, the NEXE Pod, a BPI-certified compostable coffee pod, showcases our material's durability and is an ideal substitute for plastic.  The NEXE pod is compatible with major coffee brewing machines and is manufactured at NEXE's vertically integrated facility based in North America. Discover our innovative approach to sustainability at www.nexeinnovations.com and join our journey on social media @nexeinnovations. #compostablecoffeepods #sustainability #greentech

On behalf of the Company:
Ash Guglani
President & Director

For investor relations contact:
Kam Mangat
VP, Investor Relations & Corporate Strategy
invest@nexeinnovations.com 
Office +1-604-359-4725
Mobile +1-604-359-4742

For media relations contact: media@nexeinnovations.com 

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

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include, but are not limited to, statements in respect of the Company expectations of the impact of the OTCQB listing on the Company's shareholder base. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including those risks set out in the Company's management's discussion and analysis for year ended May 31, 2023 and quarter ended February 29, 2024 under the headings "Risk and Uncertainties". Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. Factors that could cause the actual results to differ materially from those in forward-looking statements include the investor acceptance of the NEXE common shares on the OTCQB. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Nexe Innovations Inc.

FAQ

When did NEXE Innovations start trading on the OTCQB?

NEXE Innovations began trading on the OTCQB on June 5, 2024.

What is the ticker symbol for NEXE Innovations on the OTCQB?

The ticker symbol for NEXE Innovations on the OTCQB is 'NEXNF'.

What product is NEXE Innovations emphasizing in their PR?

NEXE Innovations is emphasizing their BPI-certified compostable coffee pods.

How does trading on the OTCQB benefit NEXE Innovations?

Trading on the OTCQB allows NEXE Innovations to expand its U.S. shareholder base and enhance liquidity and valuation.

What are the requirements for a company to be listed on the OTCQB?

Companies must be current in financial reporting, pass a minimum bid price test, and undergo annual verification and management certification.