Spectra7 Microsystems Announces Application to List on OTCQB
Spectra7 Microsystems has submitted an application for a listing on the OTCQB Venture Market, aiming to enhance trading visibility for its shares. The Financial Industry Regulatory Authority (FINRA) accepted its Form 211, enabling trading under the symbol SPVNF in the U.S. The company is also pursuing DTC eligibility to simplify trading. CEO Raouf Halim expressed optimism about accessing a broader investor base as the company expands its Active Copper Cable products. Approval from the OTCQB and compliance with requirements are pending.
- Application for OTCQB listing submitted to enhance trading visibility.
- FINRA accepted Form 211, allowing shares to trade under symbol SPVNF.
- Application for DTC eligibility to simplify trading processes.
- Expansion into new markets for Active Copper Cable products.
- Approval of the OTCQB listing is still pending, introducing uncertainty.
TORONTO, May 13, 2021 /PRNewswire/ -- (TSXV:SEV) Spectra7 Microsystems Inc. ("Spectra7" or the "Company"), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, today announced that it has submitted its application for a listing to the OTCQB® Venture Market ("OTCQB").
The Financial Industry Regulatory Authority or FINRA has accepted the Company's Form 211, which qualifies the Company's shares to trade in the United States on the OTC Pink Market under the symbol "SPVNF". The Company has also applied to the Depository Trust Company ("DTC") for DTC eligibility, which would greatly simplify the process of trading the Company's common shares. The Company will continue to trade on the TSX Venture Exchange ("TSXV") under its existing symbol "TSX:SEV".
The OTCQB Venture Market, operated by OTC Markets Group Inc., is designed for developing and entrepreneurial companies in the U.S. and abroad. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.
Raouf Halim, CEO of the Company commented, "We are pleased to have initiated the listing process of our common shares on the OTCQB. This move allows Spectra7 to access a broader range of institutional and retail investors in the U.S. as we expand our Active Copper Cable products into new markets."
The listing of the Company's common shares on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. As more information becomes available, the Company will keep its shareholders up-to-date on the status of the application.
About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, PTC Market Group Inc. connects a diverse network of broker-dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. To learn more about how OTC Markets Group Inc. creates better informed and more efficient markets, visit www.otcmarkets.com.
ABOUT SPECTRA7 MICROSYSTEMS INC.
Spectra7 Microsystems Inc. is a high performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in virtual reality, augmented reality, mixed reality, data centers and other connectivity markets. Spectra7 is based in San Jose, California with a design center in Cork, Ireland and technical support location in Dongguan, China. For more information, please visit www.spectra7.com.
Neither the TSX Venture Exchange nor its regulation services provided (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTES
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, those regarding the Company's application to list on the OTCQB, and the Company's strategy, plans, objectives, goals and targets, 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 Annual Information Form for the year ended December 31, 2019. 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.
For more information, please contact:
Spectra7 Microsystems Inc.
Justin Leighton
Investor Relations
647-578-7996
ir@spectra7.com
Spectra7 Microsystems Inc.
David Mier
Chief Financial Officer
925-858-7011
pr@spectra7.com
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SOURCE Spectra7 Microsystems Inc.
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