Wishpond announces DTC eligibility
Wishpond Technologies Ltd. (OTCQX: WPNDF) announced its common shares now have DTC eligibility, enhancing trading accessibility for U.S. investors. Following an upgrade to the OTCQX Best Market on June 24, 2021, this eligibility facilitates electronic clearing and settlement, which is expected to improve liquidity and streamline the trading process. With over 3,000 customers primarily from SMBs, Wishpond operates on a subscription-based SaaS model, providing marketing solutions that empower entrepreneurs.
- DTC eligibility enhances trading accessibility for U.S. investors.
- Expected to improve liquidity and streamline trading processes.
- The company operates on a subscription-based SaaS model, which provides revenue predictability.
- None.
DTC eligibility is expected to increase the accessibility of Wishpond's stock for U.S. investors
VANCOUVER, BC, July 14, 2021 /PRNewswire/ - Wishpond Technologies Ltd. (the "Company" or "Wishpond") (TSXV: WISH) (OTCQX: WPNDF), a provider of marketing focused online business solutions, is pleased to announce, following its upgrade to the OTCQX® Best Market ("OTCQX") on June 24, 2021, that the Depository Trust Company ("DTC") has made Wishpond common shares eligible for electronic deposit at DTC. The Company believes that the opportunity to clear and settle trades in its common shares on the OTCQX should provide a more seamless experience for its U.S. shareholders.
"We are excited to receive DTC eligibility, as we believe that this will be well received by our growing global shareholder base, providing investors with greater accessibility and visibility to Wishpond in the United States" said Ali Tajskandar, Chairman and CEO of Wishpond.
DTC is a subsidiary of the Depository Trust and Clearing Corporation ("DTCC"), one of the world's largest securities depositories. It manages the electronic clearing and settlement of publicly traded companies. A larger number of Wishpond's securities are now eligible to be electronically cleared and settled which allows a more streamlined process of trading, enhanced liquidity, and the provision of more direct access to investors in the U.S. OTC capital markets.
About Wishpond Technologies Ltd.
Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond's vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, and sales conversion capabilities from one integrated platform. Wishpond replaces entire marketing functions in an easy-to-use product, for a fraction of the cost. Wishpond serves over 3,000 customers who are primarily small-to-medium size businesses ("SMBs") in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great velocity. The Company employs a Software-as-a-Service ("SaaS") business model where substantially all the Company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH" and on the OTCQX under the ticker "WPNDF". For further information, visit: www.wishpond.com.
ON BEHALF OF THE BOARD
"Ali Tajskandar"
Chairman, Director and CEO
Forward-Looking Statements
Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, expectations, beliefs, plans, future operations, origination of additional targets in which the Company may hold an interest and acquisition opportunities for the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. Sentences and phrases containing or modified by words such as "anticipate", "plan", "continue", "estimate", "intend", "expect", "may", "will", "project", "predict", "potential", "targets", "projects", "is designed to", "strategy", "should", "believe", "contemplate" and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Forward-looking statements in this press release include those concerning the Company's belief that DTC eligibility should provide a more seamless experience for its U.S. shareholders and that it will be well received by its growing shareholder base. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including, but not limited to, the risk factors discussed in the continuous disclosure materials of the Company which are available under the Company's profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/wishpond-announces-dtc-eligibility-301333147.html
SOURCE Wishpond Technologies Ltd.
FAQ
What is DTC eligibility for Wishpond Technologies Ltd. (WPNDF)?
When did Wishpond upgrade to the OTCQX Best Market?
How many customers does Wishpond Technologies Ltd. serve?
What type of business model does Wishpond follow?
