OTC Markets Group Welcomes Tofutti Brands Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. has announced that Tofutti Brands Inc., known for its vegan cheese and frozen desserts, has successfully upgraded to the OTCQX Best Market from the OTCQB Venture Market. Trading under the symbol TOFB, this upgrade signifies Tofutti's compliance with higher financial standards and corporate governance practices, enhancing its visibility among U.S. investors. CEO Steven Kass expressed optimism that this step will attract a broader investor base and increase the company's market presence.

Positive

• Tofutti Brands upgraded to OTCQX from OTCQB, enhancing its market visibility.
• The upgrade reflects compliance with high financial standards and corporate governance.

Negative

• None.

NEW YORK, Jan. 10, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for over 11,000 U.S. and global securities, today announced Tofutti Brands Inc. (OTCQX: TOFB), the developer and marketer of TOFUTTI brand vegan cheese and frozen desserts, has qualified to trade on the OTCQX^® Best Market. Tofutti Brands, Inc. upgraded to OTCQX from the OTCQB^® Venture Market.

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

The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

“Tofutti Brands is proud to make this step up to the OTCQX. We believe that having our shares traded on the OTCQX will generate greater visibility for our company and will allow us to gain a broader investor base,” said Steven Kass, Chief Executive Officer of Tofutti Brands Inc.

About Tofutti Brands Inc.
We are engaged in the development, production and marketing of TOFUTTI brand vegan cheese and frozen desserts. TOFUTTI products are soy-based, vegan and dairy-free. Our products are 100% milk free yet offer the same texture and full-bodied taste as their dairy counterparts. Our products are also free of cholesterol and derive their fat from corn and palm oil, both naturally lower in saturated fat than dairy products. All of our products are completely vegan and our soy-cheese products are gluten free and non-GMO as well. In addition, all of our products are certified kosher-parve and all of our soy-cheese products are also certified halal.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX^® Best Market, the OTCQB^® Venture Market and the Pink^® Open Market for over 11,000 U.S. and global securities. Through our regulated OTC Link^® Alternative Trading Systems, the Company connects a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for their investors.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each a 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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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What is the significance of Tofutti Brands' upgrade to OTCQX?

Tofutti Brands' upgrade to OTCQX indicates compliance with higher financial standards and improved visibility for investors.

Under what symbol is Tofutti Brands trading after its upgrade?

After its upgrade, Tofutti Brands is trading under the symbol TOFB.

When did Tofutti Brands start trading on the OTCQX?

Tofutti Brands began trading on the OTCQX on January 10, 2022.

Who operates the OTCQX Best Market?

The OTCQX Best Market is operated by OTC Markets Group Inc.

What does the upgrade to OTCQX mean for Tofutti Brands' investors?

The upgrade to OTCQX provides a premium market for Tofutti Brands' investors, increasing access to financial information and trading liquidity.