Planet Based Foods Announces Listing on OTCQB Under Symbol PBFFF & DTC Eligibility
Rhea-AI Summary
Planet Based Foods Global Inc. (PBFFF) announced that its subordinate voting shares are now trading on the OTCQB, enhancing visibility and liquidity for investors. The company has also received DTC eligibility, allowing for faster electronic settlement of shares. This milestone is expected to boost shareholder engagement and support its commitment to expanding its market presence in the U.S. Current shares continue to trade on the CSE under 'PBF' and on Frankfurt under 'AZ0'. CEO Braelyn Davis highlighted this move as a significant step for increasing shareholder value.
Positive
- Subordinate voting shares now trade on OTCQB, increasing market visibility.
- Received DTC eligibility, enhancing settlement and liquidity for investors.
- CEO emphasizes commitment to increasing shareholder value and market presence.
Negative
- None.
News Market Reaction – PBFFF
In the trading session that priced this news, PBFFF declined 14.29%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC, March 30, 2022 /PRNewswire/ - Planet Based Foods Global Inc. (CSE: PBF) (OTCQB: PBFFF) (FRA: AZ0) ("PBFG", "Planet Based Foods" or the "Company") is pleased to announce that its subordinate voting shares have begun trading on the US-based OTCQB operated by OTC Markets Group Inc., under the symbol "PBFFF". Further to this, the company has also received approval from the Depository Trust Company ("DTC") to make the Company's subordinate voting shares eligible to be electronically cleared and settled through DTC ("DTC Eligibility").
Designed for developing and entrepreneurial companies in the United States and abroad, companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.
In addition to trading in the United States, Planet Based Foods Inc. subordinate voting shares continue to trade on the Canadian Securities Exchange (CSE) under "PBF" and the German Börse Frankfurt (FRA) exchange under "AZ0".
Planet Based Foods further advises that it has received approval from DTC which is a subsidiary of the Depository Trust and Clearing Corporation, a United States company that manages the electronic clearing and settlement of publicly traded companies. DTC Eligibility incorporates an electronic method of clearing securities that speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investors. DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the U.S. Securities and Exchange Commission.
Braelyn Davis, CEO of Planet Based Foods commented, "We are very excited to be able to increase shareholder value by enhancing liquidity to our current and future investors around the world. This news is an important milestone and shows our commitment to increasing our market presence across the United States as we engage with this significant audience. By listing on the OTCQB, we increase the visibility and transparency to the investment community, and overall, positions us to engage with greater effectiveness to our current and future shareholders. DTC eligibility also allows our shareholders a reliable, cost-effective and timely method for clearing and settling of our common shares."
To view information about the Company and subscribe to automated email alerts for future news and public filings, visit the Planet Based Foods website at www.planetbasedfoods.com.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.
PBFG, through its wholly-owned subsidiary in San Diego, California, Planet Based Foods, is a producer of sustainable plant-based meat substitutes. Planet Based Foods was founded in 2018 in San Diego, California. With a mission to build a better food system by providing hemp-formulated superfood products to people today that support our planet tomorrow, all Planet Based Foods products are
"Braelyn Davis"
Braelyn Davis
President, Chief Executive Officer and Director
For more information, please visit: www.planetbasedfoods.com or contact: Invest@planetbasedfoods.com
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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SOURCE Planet Based Foods