Simplified Trading, Enhanced Liquidity and Added-Value for USA Investors
VANCOUVER, July 30, 2018 /CNW/ - Phivida Holdings Inc. ("Phivida" or the "Company") (CSE: VIDA; OTCQX: PHVAF) is pleased to announce the approval of The Company's Form 211 by FINRA, and the approval to graduate on to the OCTQX Best Market as a foreign issuer, with full DTC eligibility now in process. The Company's common shares are scheduled to commence trading on the OTCQX under the symbol "PHVAF" effective July 30th, 2018.
Graduation to the OTCQX Best Market provides added service, value and convenience to USA investors, brokers and institutions seeking to trade "PHVAF" while DTC eligibility simplifies and accelerates the settlement process of daily trades. The OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
Phivida shares are in process of Depository Trust Company (DTC) eligibility. DTC manages electronic clearing and settlement of publicly traded companies across the United States and in 131 other countries. Trading through DTC allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process. In the USA, DTC settles 1.4 million transactions daily, valued at approximately USD $600 billion.
Glendale Securities facilitated the quotation of Phivida's common shares on the OTCQX Best Market and will provide market making services to act as a catalyst to enhance transparency and overall visibility for USA investors. Phivida was sponsored for the OTCQX by Burns Figa & Will PC, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.
"As a publicly traded company, with US operations, the United States is a critical market for both our products and our securities," said Jim Bailey, Phivida's CEO and President. "As we continue to build broad distribution of our products across the USA, graduating to the OTCQX enhances shareholder value through increased visibility and liquidity by attracting a broader range of retail and institutional investors."
About Phivida Holdings Inc.
Celebrating Health and Wellness, In Harmony™, Phivida's mission is to lead the alternative health care sector as the benchmark standard in premium cannabinoid infused foods, beverages and clinical products. Using encapsulation technology, Phivida converts phytocannabinoids into water soluble delivery format, enhancing bioavailability, and timed released within the body. Phivida's encapsulated cannabinoids are infused into functional beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain to terminal diseases. The World Anti-Doping Association's recent decision to lift its ban of CBD from hemp oil and the World Health Organization's recent statement supports the clinical benefits of CBD worldwide. Phivida is traded on the Canadian Securities Exchange as "VIDA" and on the OTCQX Markets as "PHVAF".
- Learn more about Phivida's CBD products
- Investor Information can be found at https://phivida.com/investors
- Take an animated tour of the Endocannabinoid System
SOURCE Phivida Holdings Inc.
For further information: Media Relations: Toll free: +1 (844) 744-6646 (ext. #2); Email: [email protected]; Website: www.phivida.com