SPARQ Engages Integral Wealth Securities for Market-Making Services
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF) has announced a market-making agreement with Integral Wealth Securities . The agreement, dated December 20, 2024, aims to maintain reasonable market conditions and enhance the liquidity of SPARQ's common shares. The initial term is three months with automatic one-month renewals unless terminated with 30 days' notice. SPARQ will pay Integral a monthly fee of C$7,500 plus HST. The agreement contains no performance factors or security-based compensation, and Integral will cover its own costs for trading SPARQ shares.
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF) ha annunciato un accordo di market-making con Integral Wealth Securities. L'accordo, datato 20 dicembre 2024, ha l'obiettivo di mantenere condizioni di mercato ragionevoli e migliorare la liquidità delle azioni ordinarie di SPARQ. Il termine iniziale è di tre mesi con rinnovi automatici di un mese a meno che non venga terminato con un preavviso di 30 giorni. SPARQ pagherà a Integral una commissione mensile di C$7.500 più HST. L'accordo non contiene fattori di performance o compensi basati su titoli, e Integral coprirà i propri costi per il trading delle azioni di SPARQ.
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF) ha anunciado un acuerdo de creación de mercado con Integral Wealth Securities. El acuerdo, fechado el 20 de diciembre de 2024, tiene como objetivo mantener condiciones de mercado razonables y mejorar la liquidez de las acciones ordinarias de SPARQ. El término inicial es de tres meses con renovaciones automáticas de un mes, a menos que se cancele con un aviso de 30 días. SPARQ pagará a Integral una tarifa mensual de C$7.500 más HST. El acuerdo no contiene factores de rendimiento ni compensaciones basadas en valores, y Integral cubrirá sus propios costos por el comercio de las acciones de SPARQ.
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF)는 Integral Wealth Securities와 시장 조성 계약을 체결했다고 발표했습니다. 이 계약은 2024년 12월 20일자로, 합리적인 시장 조건을 유지하고 SPARQ의 보통주 유동성을 향상시키는 것을 목표로 합니다. 초기 기간은 3개월이며, 30일 전에 해지하지 않는 한 월 자동 갱신됩니다. SPARQ는 Integral에게 월 C$7,500 및 HST를 지급합니다. 이 계약에는 성과 기준이나 증권 기반 보상이 없으며, Integral은 SPARQ 주식 거래에 대한 자신의 비용을 부담합니다.
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF) a annoncé un accord de création de marché avec Integral Wealth Securities. L'accord, daté du 20 décembre 2024, vise à maintenir des conditions de marché raisonnables et à améliorer la liquidité des actions ordinaires de SPARQ. La durée initiale est de trois mois avec des renouvellements automatiques d’un mois, sauf si résilié avec un préavis de 30 jours. SPARQ versera à Integral une redevance mensuelle de 7 500 $ CA plus HST. L'accord ne contient aucun facteur de performance ni compensation basée sur des titres, et Integral couvrira ses propres coûts pour le trading des actions de SPARQ.
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF) hat eine Market-Making-Vereinbarung mit Integral Wealth Securities bekanntgegeben. Die Vereinbarung, datiert auf den 20. Dezember 2024, zielt darauf ab, angemessene Marktbedingungen zu gewährleisten und die Liquidität der Stammaktien von SPARQ zu erhöhen. Die Anfangslaufzeit beträgt drei Monate mit automatischen einmonatigen Verlängerungen, es sei denn, sie wird mit einer Frist von 30 Tagen gekündigt. SPARQ wird Integral eine monatliche Gebühr von C$7.500 zuzüglich HST zahlen. Die Vereinbarung enthält keine Leistungsfaktoren oder auf Wertpapieren basierende Vergütungen, und Integral wird seine eigenen Kosten für den Handel mit SPARQ-Aktien tragen.
- Agreement aims to improve stock liquidity and market stability
- No performance-based fees or security compensation, reducing financial uncertainty
- Flexible termination terms with 30-day notice period
- Additional monthly expense of C$7,500 plus HST
- Potential for Integral to acquire and trade company shares, which could affect stock price
Toronto, Ontario--(Newsfile Corp. - December 31, 2024) - SPARQ Systems Inc. (TSXV: SPRQ) (OTCQB: SPRQF) ("SPARQ" or the "Company") is pleased to announce it has entered into a letter agreement dated December 20, 2024 (the "Agreement") with Integral Wealth Securities Limited ("Integral") to provide market-making services with the objectives of maintaining a reasonable market and improving the liquidity of the Company's common shares. The Agreement is subject to the prior approval of the TSX Venture Exchange.
The Agreement has an initial term of three (3) months from the date of execution (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each, an "Additional Term") unless the Company provides at least 30 days' written notice of termination prior to the end of the Initial Term or an Additional Term, as applicable. Integral will be paid a monthly fee of C
Integral and its clients may acquire an interest in the securities of the Company in the future. Integral is an arm's length party to the Company. Integral will be responsible for the costs it incurs in buying and selling the Company's common shares, and no third party will be providing funds or securities for the market making activities.
ABOUT SPARQ
SPARQ designs and manufactures next generation single-phase microinverters for residential and commercial solar electric applications. SPARQ has developed a proprietary PV solution called the Quad; the Quad inverter optimizes four PV modules with a single microinverter, simplifying design and installation, and lowering cost for solar power installations when compared to existing market offerings.
SPARQ's head office is located at 945 Princess Street, Kingston, Ontario, K7L 0E9.
ABOUT INTEGRAL
Integral Wealth Securities Limited is a national independent CIRO-licensed investment dealer. Founded in 2003, the firm has established capabilities in market making, wealth management and investment banking. The firm's FINRA-regulated US broker dealer affiliate, Integral Wealth Securities LLC, is engaged in investment banking and private placements.
Cautionary Note
Certain statements contained in this press release constitute "forward-looking statements." All statements other than statements of historical fact contained in this press release, including, without limitation, the terms of the engagement of Integral, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company's management's discussion and analysis for the financial year ended December 31, 2023. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
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 more information, please contact:
SPARQ Systems Inc.
Dr. Praveen Jain
Chief Executive Officer
Email: pjain@sparqsys.com
Tel: 343.477.1158
62917350.2
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235649
FAQ
What is the cost of SPARQ's (SPRQF) market-making agreement with Integral?
How long is SPRQF's market-making agreement with Integral valid?
What are the objectives of SPRQF's market-making agreement?
Does the SPRQF market-making agreement include performance-based compensation?
When can SPRQF terminate the market-making agreement with Integral?
