Business
PowerBand Announces DTC Eligibility of Its Common Shares in the United States
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2018) - PowerBand Solutions Inc. ...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand Announces DTC Eligibility of Its Common Shares in the United StatesVancouver, British Columbia--(Newsfile Corp. - September 19, 2018) - PowerBand Solutions Inc. (TSXV: PBX) (OTCQB: PWWBF) (FSE: 1ZVA) (\"PowerBand\" or the \"Company\"), a leading online auction and remarketing platform to buy and sell used vehicles, is pleased to announce that the Company's common shares traded in the United States, under the symbol PWWBF, are Depository Trust Company (\"DTC\") eligible.DTC is a subsidiary of The Depository Trust & Clearing Corporation, which manages electronic clearing and settlement of publicly traded companies. Securities, such as PWWBF's, that are eligible to be electronically cleared and settled through the DTC are considered \"DTC eligible.\" Trading of securities through DTC allows for cost-effective clearing and guaranteed settlement, in turn simplifying and accelerating the settlement process for investors trading PWWBF's shares.Securities that do not have DTC eligible status are often not accepted for trading at many brokerages due to the amount of paperwork and staff required to execute and settle trades, which makes it more difficult for a significant percentage of investors to easily access the shares in question.PowerBand's CEO, Kelly Jennings, commented, \"We are very pleased to have obtained DTC eligibility. This status will greatly simplify the process of investors and brokers trading and exchanging our stock in the United States, which will benefit PowerBand and our shareholders. We also expect that being DTC eligible will improve our overall share liquidity and the attractiveness of PowerBand's shares on the market, particularly as we introduce our online auction vehicle remarketing marketplace into the United States.\"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.In addition to the trading in the U.S., PowerBand's shares continue to trade on the TSX Venture Exchange (TSXV: PBX) and the Frankfurt Stock Exchange (FSE: 1ZVA).About PowerBand PowerBand is a technology provider listed on the TSX Venture Exchange that is developing solutions for automotive and other industries that drive efficiency and transparency in the marketplace. PowerBand has dev...