TORONTO, Nov. 29, 2011 /CNW/ - Quantitative Alpha Trading Inc. (CNSX:
QAT) (OTCQB: QATSF) (the "Company" or "QAT") is pleased to announce
that it has filed an application for listing of the Company's common
shares on the TSX Venture Exchange, with Canaccord Genuity Corp.
agreeing to act as sponsor. The application remains subject to approval
by the Exchange.
"This is another important step forward for the Company", said Chair,
Todd Halpern. "As we continue to develop our proprietary trading
software solutions, we also look forward to expanded coverage of QAT's
activities and enhanced liquidity for QAT's investors. The opportunity
to move the company to the TSX Venture Exchange is one which we are
keen to pursue for the benefit of all stakeholders."
At the same time, the Company announced today that Mr. Enrico Visentini
will be joining as Chief Financial Officer effective January 1, 2012.
An accomplished senior financial executive, Mr. Visentini is an MBA
graduate of the Richard Ivey School of Business at the University of
Western Ontario. He also has earned his CA and CFA designations.
According to Mr. Jim McGovern, Chief Executive Officer: "We look forward
to capitalizing on Mr. Visentini's strong background and experience in
finance, accounting and operations, including in the field of human
resources management, as we move forward as part of our growth and
roll-out plans with a fully internalized accounting and finance
function at QAT. Enrico's public company accounting experience will
prove invaluable including not only his knowledge of US GAAP and IFRS
accounting standards but also his experience in the preparation of
prospectuses, AIF's, 20-F's, management circulars and other legal and
"I am really pleased to be joining a company which has such a strong
technology platform, supported by strong leadership" said Mr.
Visentini, who will be assisting the Company in a consulting capacity
through a transition period until his formal start date.
Mr. McGovern also expressed the Company's gratitude to John Doma of
Bateman MacKay LLP for his outstanding service as acting Chief
Financial Officer pending this appointment.
For more than a decade, QAT's Chief Technology Officer has been
researching, developing and maintaining proprietary algorithmic
securities trading systems that operate across numerous financial
markets. Relying on behavioural science patterns, the Company's
proprietary systems use a linked series of computer programs to analyze
securities market data in real-time and directly execute buy or sell
orders over the electronic securities exchanges while monitoring the
status of every trade within a given portfolio without human
The Company trades on CNSX under the symbol QAT and in the United States
on the OTCQB under the symbol QATSF.
Forward-Looking Statements Advisory
Certain information included in this press release constitutes
forward-looking statements and information and future-oriented
financial information under applicable securities legislation and is
provided for the purpose of expressing management's current
expectations and plans for the future. Readers are cautioned that
reliance on such information may not be appropriate for other purposes,
such as making investment decisions.
More particularly, this press release contains statements concerning
QAT's anticipated: business development strategy, customer orders,
product deliveries, sales, revenue and revenue growth. The
forward-looking statements are based on a number of key expectations
and assumptions made by QAT, including expectations and assumptions
concerning achievement of current timetables for development programs
and sales, target market acceptance of QAT's products, current and new
product performance, availability and cost of labor and expertise.
Although QAT believes that the expectations and assumptions used to
develop the forward-looking statements are reasonable, undue reliance
should not be placed on the forward-looking statements because QAT can
give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions,
by their very nature they involve numerous risks and uncertainties that
contribute to the possibility that the projections and forecasts in the
forward-looking statements will not occur and that actual performance
or results could differ materially from those anticipated in the
forward-looking statements. These risks and uncertainties include, but
are not limited to, the risks associated with QAT's stage of
development, history of losses and lack of historical product revenues,
uncertainty as to product development and sales milestones being met,
product defect and performance risks, competition for capital and
market share, uncertainty as to target markets, dependence upon third
parties, uncertainty as to patent and proprietary rights, availability
and retention of management and key personnel, exchange rate and
currency fluctuations, uncertainties relating to potential delays or
changes in plans with respect to product development or capital
expenditures and the ability of QAT to access sufficient capital on
acceptable terms. This is not an exhaustive list and additional
information on these risks and other factors that could affect QAT's
operations and financial results are included in reports on file with
the Canadian securities regulatory authorities and can be accessed
through the SEDAR website at www.sedar.com.
The forward-looking statements contained in this press release are made
as of the date hereof and QAT undertakes no obligation to update
publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
Additionally, QAT undertakes no obligation to comment on the
expectations of, or statements made by, third parties about QAT.
Neither the CNSX nor the TSX Venture Exchange has reviewed or accepts
responsibility for the adequacy or accuracy of the content of this news
SOURCE QUANTITATIVE ALPHA TRADING INC.
For further information:
Jim McGovern, Chief Executive Officer, QAT - 1-416-323-0477, firstname.lastname@example.org