OTC Markets Group Welcomes Reeds, Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. (OTCM) announced on February 16, 2023, that Reed’s, Inc. (OTCQX: REED), known for its premium ginger beverages, has qualified to trade on the OTCQX Best Market after previously trading on NASDAQ. Reed’s begins trading under the symbol REED today. This move is anticipated to provide a cost-effective access to capital markets, with streamlined requirements designed to enhance transparency for investors. Reed’s CEO, Norman E. Snyder, expressed optimism about the transition, emphasizing a focus on operations and profitability improvements in 2023.

Positive

• Reed’s, Inc. has qualified for trading on the OTCQX Best Market, indicating higher financial standards.
• Transitioning from NASDAQ to OTCQX offers Reed's a cost-effective structure and less stringent compliance requirements.
• The CEO's statement highlights a focus on improving operations and profitability.

Negative

• None.

NEW YORK, Feb. 16, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Reed’s, Inc. (OTCQX: REED), owner of the nation’s leading portfolio of handcrafted, natural ginger beverages, has qualified to trade on the OTCQX® Best Market. Reed’s, Inc. previously traded on NASDAQ.

Reed’s, Inc. begins trading today on OTCQX under the symbol “REED.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. Streamlined market requirements for OTCQX are designed to help companies lower the cost and complexity of being publicly traded, while providing transparent trading for their investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

“We look forward to begin trading on OTCQX given its cost-efficient structure and less stringent requirements compared to the Nasdaq Exchange,” said Norman E. Snyder, Chief Executive Officer of Reed’s. “We are grateful for our time with Nasdaq, however we believe this is the right exchange for Reed’s as we intently focus on improving operations and profitability through continued revenue growth and additional cost saving initiatives in 2023.”

About Reed’s, Inc.

Reed’s is an innovative company and category leader that provides the world with high quality, premium and naturally bold™ better-for-you beverages. Established in 1989, Reed's is a leader in craft beverages under the Reed’s^®, Virgil’s^® and Flying Cauldron^® brand names. The Company’s beverages are now sold in over 45,000 stores nationwide.

Reed’s is known as America's #1 name in natural, ginger-based beverages. Crafted using real ginger and premium ingredients, the Reed’s portfolio includes ginger beers, ginger ales, ready-to-drink ginger mules, ginger shots, and ginger candies. The brand has recently successfully expanded into the zero-sugar segment with its proprietary, all-natural sweetener system.

Virgil's^® is an award-winning line of craft sodas, made with the finest natural ingredients and without GMOs or artificial preservatives. The brand offers an array of great tasting, bold flavored sodas including Root Beer, Vanilla Cream, Black Cherry, Orange Cream, and more. These flavors are also available in nine zero sugar varieties which are naturally sweetened and certified ketogenic.

Flying Cauldron^® is a non-alcoholic butterscotch beer prized for its creamy vanilla and butterscotch flavors. Sought after by beverage aficionados, Flying Cauldron is made with natural ingredients and no artificial flavors, sweeteners, preservatives, gluten, caffeine, or GMOs.

For more information, visit drinkreeds.com, virgils.com and flyingcauldron.com.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
ir@reedsinc.com
(720) 330-2829

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What market is Reed's, Inc. trading on now?

Reed's, Inc. is now trading on the OTCQX Best Market under the symbol 'REED'.

When did Reed's, Inc. start trading on OTCQX?

Reed's, Inc. began trading on the OTCQX on February 16, 2023.

Why did Reed's, Inc. move from NASDAQ to OTCQX?

Reed's, Inc. moved to OTCQX for a more cost-effective trading structure and less stringent requirements.

What benefits does trading on OTCQX provide for Reed's, Inc.?

Trading on OTCQX provides efficient access to U.S. capital markets and promotes transparent trading for investors.

What is the primary business of Reed's, Inc.?

Reed's, Inc. specializes in handcrafted, natural ginger beverages.