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 with 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 the 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 of the investment community, and overall, positions us to engage with greater effectiveness with 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.
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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 100% vegan.
President, Chief Executive Officer, and Director
For more information, please visit: www.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.
SOURCE: Planet Based Foods