Streamlined Clearance and Settlement Provides Added-Value for USA Investors
VANCOUVER, Aug. 20, 2018 /CNW/ - Phivida Holdings Inc. ("Phivida" or the "Company") (CSE: VIDA; OTCQX: PHVAF) announces that it has been awarded full DTC (Depository Trust Company) and CNS (Continuous-Net-Settlement) eligibility for its common shares that are listed for trading on the OTCQX® Best Market under the ticker symbol "PHVAF" in the United States.
The DTC manages the electronic clearing and settlement agency serving publicly traded companies in the USA. This electronic method of clearing securities speeds up the receipt of stock and cash and accelerates the settlement process. CNS is an automated book-entry accounting system, which centralizes the settlement of security transactions and maintains an orderly flow of security and money balances between market participants.
DTC eligibility allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the receipt of stock and cash for investors. CNS eligibility ensures all DTC eligible trades and cash balances are centralized, cleared and settled in an orderly and efficient manner. CNS eligibility also means that, if purchasing shares in the Canadian market (CSE: VIDA), DTC will guarantee delivery to the United States, and trades of foreign issuer shares (OTCQX: PHVAF) will be settled in USD for added value and convenience for prospective US investors.
Graduation to the OTCQX market provides added; value, service and convenience to US based investors, brokers and institutions seeking to trade "PHVAF". DTC and CNS eligibility simplifies and accelerates settlement and is expected to enhance liquidity of the Company's common shares on the OTC marketplace.
About Phivida Holdings Inc. Celebrating Health and Wellness, In Harmony™, Phivida's mission is to lead the alternative health care sector as in premium cannabinoid infused foods, beverages and clinical products. Using encapsulation technology, phytocannabinoids are converted into water soluble delivery format, enhancing bioavailability, solubility and timed release within the body. Phivida's encapsulated cannabinoids are infused into functional beverages, foods and supplements with 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 supports the clinical benefits of CBD worldwide. Phivida is traded on the Canadian Securities Exchange as "CSE: VIDA", and on the OTCQX® Best Markets as "US: PHVAF".