Kneat Announces OTCQX Listing and DTC Eligibility
LIMERICK, Ireland, March 31, 2022/CNW/ – kneat.com, inc. (TSX: KSI) (OTCQX: FBAYF) (“Kneat” or the “Company”) a leader in digitizing and automating validation processes, announced today that its common shares (the “Shares”) will commence trading on the OTCQX® Best Market today, under the symbol “FBAYF”.
Kneat also announced that its Shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company (“DTC”). DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company’s Shares in the United States.
Eddie Ryan, Chief Executive Officer of Kneat commented, “Listing on the OTCQX is a significant milestone for Kneat and a logical next step for the company. We believe that the listing and DTC eligibility will increase Kneat’s visibility among U.S. investors and enhance access for shareholders seeking to gain exposure in the high-growth Life Sciences digital solutions marketplace.”
Kneat’s common shares will continue to trade on the TSX under the symbol “KSI”.
The OTCQX® Best Market offers established companies the advantages of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Investors benefit from convenient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure that is made broadly available to broker-dealers and market data providers. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
Investors can find information and trading statistics on Kneat at www.otcmarkets.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQB® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. To learn more about the OTC Markets Group Inc. visit www.otcmarkets.com.
Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx SaaS platform. Multiple business work processes can be configured on the platform from equipment to computer system validation, through to quality document management. Kneat’s software allows users to author, review, approve, execute testing online, manage any exceptions, and post approve final deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes globally. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information, includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization and the compliance of Kneat’s platform under regulatory audit and inspection. While such forward-looking statements are expressed by Kneat, as stated in this release, in good faith and believed by Kneat to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties.
The forward-looking information in this press release does not include a full assessment or reflection of the unprecedented impacts of the COVID-19 pandemic occurring since the first quarter of 2020 and the ongoing and developing resulting indirect global and regional economic impacts. This has resulted in significant economic uncertainty and even though the Company has to date experienced no significant impact to its operations, any potential impact on our future is difficult to understand or measure at this time.
Kneat does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors’ own risk.
For further information:
Hugh Kavanagh, Chief Financial Officer
P: +353 61 203826
James Bowen, Kneat Investor Relations
P: + 1 416-519-9442