Toronto, Ontario – August 9, 2022 – OTC Advisory Services Inc. (“OTC Advisory”) is pleased to announce OTC Advisory and Odyssey Trust Company (“Odyssey”) have entered into a partnership agreement to provide cross border listing and stock transfer co-agency services to Canadian and International issuers listing to the OTC Markets OTCQB and OTCQX platforms. OTC Advisory will assume all OTC listing and DTC eligibility services for clients of Odyssey and Odyssey will provide co-agency stock transfer and DTC services for OTC Advisory clients in the United States.
This partnership will further streamline the process for Canadian and International issuers looking to access the US capital markets by way of a secondary listing on the OTCQB or OTCQX platforms. Many issuers have found the cross listing and DTC eligibility process frustrative due to the fragmented application processes involved, as well as the requirement to appoint a US co-agent who is a DTC participant. This partnership will allow clients of OTC Advisory and Odyssey to benefit from having their OTC listing and DTC eligibility needs covered in one place. Clients of OTC Advisory and Odyssey can expect the seamless management of both the OTC listing and DTC eligibility applications, as well as the continued ongoing support required to manage their US listing and meet all regulatory requirements.
OTC Markets Listing as a Foreign Private Issuer:
Under SEC Rule 12g3-2(b), international companies that maintain a listing on a recognized international stock exchange can use this exemption to easily have their securities quoted on either the OTCQB or OTCQX platforms without having to register or comply with any additional U.S. reporting requirements. Using Rule 12g3-2(b) to list international companies on OTCQB or OTCQX, allows issuers access to the US capital markets which are the most mature and stable of the world’s financial centers.
DTC Eligible securities are freely tradable securities of a public company that become eligible to be deposited into the DTC. Being DTC eligible allows brokers to process and clear transactions electronically, allowing issuers to save on clearing and broker fees, enhance liquidity, and improve market visibility.
DTC Eligibility facilitates:
- Stock certificate deposits into individual brokerages
- Reduction in broker processing fees
- Elimination of printing excessive physical stock certificates by using electronic processing between brokers and DTC
- Reduction in costs associated with courier shipments and tracking
- Easy transfer of ownership of securities between brokers.
ABOUT OTC ADVISORY SERVICES INC. (www.otcadvisoryservices.com)
OTC Advisory Services Inc. is the single largest channel for new Canadian and international listings on OTC Markets, having managed, or advised on, one-third of all Canadian public companies currently listed on the OTCQB and OTCQX platforms. As part of the Grove Group of Companies (www.grovecorp.ca), OTC Advisory provides a single-point-of-contact, flat-fee service to eligible non-US companies covering all costs associated with a secondary listing on OTC Markets.
ABOUT ODYSSEY TRUST COMPANY (www.odysseytrust.com)
Odyssey is an independent trust and transfer agent with offices in Calgary, Vancouver and co-agents based in Toronto, United States, London, Hong Kong and Australia.
FOR ADDITIONAL INFORMATION:
OTC Advisory Services Inc.
Sarah Morrison, President| E: [email protected] | T: 1-416-799-7061
Odyssey Trust Company
Jenna Kaye, CEO | E: [email protected] | T: 1-403-660-0192