VerticalScope Commences Trading on the OTCQX Best Market

Rhea-AI Summary

VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF), a technology company operating a cloud-based digital platform for online enthusiast communities, has begun trading on the OTCQX® Best Market under the symbol 'VFORF'. This move aims to increase accessibility for U.S. investors and employees, eliminating the need for Canadian trading accounts. The company will continue trading on the Toronto Stock Exchange as 'FORA'.

CEO Rob Laidlaw views this as a significant milestone, expecting increased exposure to U.S. private and institutional investors. The OTCQX, the highest tier of OTC Markets, requires companies to meet strict financial and governance standards. This development is seen as a potential stepping stone towards a future senior exchange listing in the U.S. as VerticalScope continues to expand its digital platform.

Positive

• Commenced trading on OTCQX Best Market, potentially increasing U.S. investor exposure
• Easier access for U.S. employees and investors to invest in the company
• Potential stepping stone towards a senior U.S. exchange listing

Negative

• None.

TORONTO--(BUSINESS WIRE)-- VerticalScope Holdings Inc. (“VerticalScope” or the “Company”) (TSX: FORA; OTCQX: VFORF), a technology company that has built and operates a cloud-based digital platform for online enthusiast communities, today announced the Company has qualified to trade on the OTCQX^® Best Market under the symbol “VFORF.” VerticalScope will continue to trade on the Toronto Stock Exchange under the symbol “FORA.”

Rob Laidlaw, Founder, Chair and CEO of VerticalScope stated, “Having direct access to the OTCQX quotation and trading platform is an important milestone, making it easier for our U.S. employees and investors to invest in VerticalScope by eliminating the requirement of maintaining a Canadian trading account. Additionally, we are confident that the transparent and efficient OTCQX platform will increase exposure and profile with U.S. private and institutional investors, representing a stepping stone towards a potential senior exchange listing in the U.S. as we continue to scale our digital enthusiast community platform.”

The OTCQX, operated by OTC Markets Group Inc., is the highest tier of OTC Markets, where over 12,000 U.S. and international securities are traded. It offers a valuable and convenient trading experience for U.S. investors, brokers, and institutions. Eligibility for trading on this platform requires companies to fulfill stringent financial and governance standards, adhere to U.S. securities laws, and maintain transparent and current disclosure. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for VerticalScope on www.otcmarkets.com.

JWTT Inc. acted as the Company’s OTCQX sponsor.

About VerticalScope Holdings Inc.

VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high-consumer spending categories. VerticalScope's mission is to enable people with common interests to connect, explore their passions and share knowledge about the things they love. Through targeted acquisitions and development, VerticalScope has built a portfolio of over 1,200 online communities and more than 110 million monthly active users.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. The data-driven disclosure standards form the foundation of its three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market. The OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Its 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, visit www.otcmarkets.com.

Forward-Looking Statements:

This news release contains forward-looking information within the meaning of applicable securities legislation that reflects VerticalScope's current expectations regarding future events. When used in this news release, words such as “should”, “could”, “intended”, “expect”, “plan” or “believe” and similar expressions indicate forward-looking statements. Forward-looking information, including statements regarding the impact of the qualification to trade on the OTCQX® Best Market and related strategies, including with respect to access to capital and increased investor liquidity, exposure and profile, is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond VerticalScope's control. Although VerticalScope believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurances can be given that actual results will be consistent with these forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors'' in VerticalScope’s Annual Information Form dated April 1, 2024, which is available on VerticalScope’s profile on SEDAR+ at https://sedarplus.ca. Actual results could differ materially from those projected herein. VerticalScope does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

Source: VerticalScope Holdings Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240717996195/en/

VerticalScope – Vincenzo Bellissimo, Chief Financial Officer, IR@verticalscope.com

FNK IR – Matt Chesler, CFA, Tel: 646-809-2183, fora@fnkir.com

OTC Markets Group Inc. – 212-896-4428, media@otcmarkets.com

Source: VerticalScope Holdings Inc.

FAQ

What is VerticalScope's new stock symbol on the OTCQX Best Market?

VerticalScope's new stock symbol on the OTCQX Best Market is 'VFORF'.

Why did VerticalScope (VFORF) start trading on the OTCQX Best Market?

VerticalScope started trading on the OTCQX Best Market to increase accessibility for U.S. investors and employees, eliminate the need for Canadian trading accounts, and potentially increase exposure to U.S. private and institutional investors.

Will VerticalScope (VFORF) continue trading on the Toronto Stock Exchange?

Yes, VerticalScope will continue trading on the Toronto Stock Exchange under the symbol 'FORA'.

What are the requirements for companies to trade on the OTCQX Best Market?

Companies trading on the OTCQX Best Market must meet stringent financial and governance standards, adhere to U.S. securities laws, and maintain transparent and current disclosure.