Business
AdvanceTC Ltd Responds to Recent Promotional Activities Pursuant to OTC Markets Request
AdvanceTC Ltd Responds to Recent Promotional Activities Pursuant to OTC Markets Request.
About this update from Advancetc Limited
[{"type":"text","content":"NEW YORK, NY / ACCESSWIRE / September 9, 2021 / AdvanceTC Ltd (NSX:A88)(OTCQB:ATCLF) ("AdvanceTC" or the "Company") has been requested by OTC Markets Group Inc. to issue this statement about promotional activity concerning its common stock.On September 3, 2021, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common stock traded on the OTCQB Marketplace, including the distribution of two promotional newsletter e-mails, each dated September 3, 2021, one published by Epic Stocks Picks and the other by Green Leaf Pot Stocks, discussing the Company, its products and the global size of the satellite phone technology market. The publications also contained a summary of several recent press releases issued by AdvanceTC. OTC Markets provided examples of the promotional material for reference. The Company was not aware of the articles before receiving them from OTC Markets.The Company takes its investor relations practices seriously, including its obligations to release material information which might reasonably be expected to have significant effect on the market price or value of its securities.By way of background, the Company's ordinary shares have traded for many years on the National Stock Exchange of Australia (NSX) under the symbol A88. The Company sought to have its shares trade in the U.S. markets and to provide information about the Company. The Company's applied to have its common shares accepted for trading on the OTC Markets. The shares were accepted for trading in early 2021, and the Company secured DTC eligibility by The Depository Trust Company for its shares on the OTC Markets effective March 5, 2021. The Company originally deposited 8,000,000 of its ordinary shares with DTC.In connection with the Company's efforts to increase its brand and company awareness in the United States, the Company engaged Strattner Group ("Strattners") to make introductions to investment banks and broker-dealer firms, attorneys, consultants, public relations firms, investor relations firms, brand awareness firms, and digital marketing companies in an effort to assist the Company with its goal of achieving broader market awareness and getting the Company's stocks trading in the US markets.Through August 2021, Strattners worked with several firm...