PROTECH HOME MEDICAL SUBMITS APPLICATION FOR LISTING ON THE OTCQX® BEST MARKET AND RETAINS U.S. CAPITAL MARKETS ADVISORY FIRM
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Cincinnati, Ohio – February 4, 2020 – Protech Home Medical Corp. (“Protech” or the “Company”) (TSXV: PTQ), a healthcare services company with operations in the U.S., today announced that it has submitted its formal application to have the Company’s shares quoted on the OTCQX® Best Market.
Expanding to the OTCQX Best Market would provide existing shareholders with an additional trading platform to the TSX Venture Exchange in addition to introducing the Company to a broader range of institutional and retail investors in the U.S. In order to qualify for the OTCQX Best Market, issuers must meet high financial standards, follow best practice for corporate governance, demonstrate compliance with certain U.S. securities laws, be current in their disclosures, and have a professional third-party sponsor introduction.
“We are excited for the prospects of trading on the OTCQX Best Market and believe this is the first step towards fulfilling Protech’s ambitions of graduating to a U.S. stock exchange, such as the NASDAQ or NYSE. We welcome the heightened visibility among the investment community that the OTCQX Best Market would be expected to bring”, said Greg Crawford, CEO and Chairman at Protech.
Acceptance for listing the Company’s shares is subject to approval of the OTCQX Best Market. While the Company intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved.
The Company is also pleased to announce that it has retained the services of SABR Capital Management, LLC., to act as its U.S. capital markets advisory group. SABR Capital Management LLC and the Company are planning a series of investment community outreach activities in 2020. These activities will include non-deal road shows and conference participation across the U.S.
Pursuant to the advisory agreement, SABR has been issued 100,008 stock options at an exercise price of $1.10 per share, vesting monthly over 12 months, and will be issued 60,000 common shares of the Company on April 1, 2020, which will be subject to a 12 month contractual hold.