Veltex Corporation Announces Uplisting to OTCQB Market
Veltex Corporation (OTCQB:VLXC) announced its uplisting from the OTC Pink Market to the OTCQB® Venture Market, effective July 25, 2022. This transition aims to enhance trading liquidity and market visibility for the company, which focuses on health and wellness acquisitions, particularly in substance use disorder (SUD) treatment. Veltex operates an outpatient SUD facility in Mount Hope, WV, with plans for inpatient services. The uplisting is expected to broaden the investor base and offer improved compliance standards, contributing to the company's strategic goals in the healthcare sector.
- Uplisting to the OTCQB enhances trading liquidity and market visibility.
- Focus on health and wellness, specifically targeting substance use disorder treatment.
- Plans to expand services from outpatient to inpatient treatment.
- None.
CHICAGO, July 22, 2022 /PRNewswire/ -- Veltex Corporation (OTCQB:VLXC) ("Veltex"), a Health and Wellness Acquisition Firm, is pleased to announce its successful uplisting from the OTC Pink Market to the OTCQB® Venture Market (the "OTCQB") effective for trading July 25, 2022 at the open. Veltex will continue to trade under the ticker symbol "VLXC". Veltex seeks to develop and acquire companies which have established or advanced the latest modalities in the areas of health wellness, and recovery, specifically targeting substance use disorder ("SUD") treatment in the State of West Virginia. Veltex currently operates an out-patient SUD treatment facility, with plans to expand to in-patient services, through its wholly owned subsidiary Veltex Medical, Inc. d/b/a Veltex Recovery Group ("VRG") at 101 Martin Drive, Mount Hope, WV 25880.
The OTCQB, operated by OTC Markets Group, Inc., is a premier market designed for developing and entrepreneurial companies in the United States and abroad committed to providing investors high-quality trading and improved market visibility to enhance trading liquidity. To be eligible for trading on the OTCQB, companies must be current in their financial reporting with the Securities and Exchange Commission (the "SEC"), pass a minimum bid price test, maintain audited financials through a PCAOB registered firm, an undergo company verification and management certification on an annual basis.
The OTCQB is operated by the OTC Markets Group and recognized by the Securities and Exchange Commission ("SEC") as an established public market providing data that investors need to analyze, value and trade securities. Being part of the OTC Markets Group will assist in diversifying Veltex's shareholder base worldwide.
"We are proud to start trading our common shares on the OTCQB Venture Market," said Stephen G. Macklem, CFO of Veltex Corporation. "This is a natural progression, and yet another milestone, of our vision to broaden our investor base with increased liquidity and brand visibility while maintaining a high level of transparency to inform and engage potential investors and current shareholders. Veltex is on course to become an industry leader in Healthcare development and acquisition. Veltex's wholly owned subsidiary entity Veltex Recovery Group ("VRG") is well on its way to becoming a model facility for SUD treatment in the State of West Virginia and beyond."
"Veltex is thrilled to have successfully completed its uplisting to the OTCQB," said Andreas Mauritzson, Chief Executive Officer of Veltex. "We believe this achievement will significantly enhance our capital markets appeal to a broader range of investors. With more compliance and quality standards, the OTCQB provides potential investors improved visibility to enhance trading decisions."
About Veltex Corporation
Veltex Corporation, (OTCQB: VLXC), incorporated in Utah September 17, 1987, is a public holding corporation, which maintains its corporate headquarters in Chicago, Illinois. Veltex's common shares trade OTC Markets under the symbol VLXC. Veltex is a premier Health and Wellness Acquisition Firm, specifically targeting Substance Use Disorder ("SUD") treatment entities. Veltex Medical, Inc. d/b/a Veltex Recovery Group ("VRG"), a Delaware corporation and Veltex Properties, Inc. ("VPI"), a Delaware corporation are both wholly owned subsidiaries of Veltex. VMI operates an approximately 30,000 Sq. Ft. out-patient substance use disorder treatment facility at 101 Martin Drive, Mount Hope, WV 25880, with plans in action to provide in-patient SUD treatment in the near future.
For additional information, please visit our corporate website at: Veltex.com, and our VRG website: Veltexrecoverygroup.com
Safe Harbor Statement
Forward Looking Statement
Safe Harbor Statement; Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Veltex or its management "believes," "expects," "anticipates," "foresees," "seeks," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Veltex's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company, Veltex, as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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SOURCE Veltex Corporation
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