Business
Covalon Technologies Ltd. Achieves DTC Eligibility in the United States
Improving Access for U.S. Investors and Supporting Share Price Appreciation for Canadian MedTech ...
About this update from Covalon Technologies Ltd.
[{"type":"text","content":"Covalon Technologies Ltd. Achieves DTC Eligibility in the United States\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n Improving Access for U.S. Investors and Supporting Share Price Appreciation for Canadian MedTech Innovator\n \n\n\n\n\n Covalon Technologies Ltd. (the \"Company\" or \"Covalon\") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, is pleased to announce that its common shares are now eligible for electronic clearing and settlement in the United States through The Depository Trust Company (“DTC”).\n \n\n DTC eligibility simplifies the trading process for Covalon shares on the U.S. OTCQX Market under the symbol\n \n CVALF\n \n by eliminating manual delays and higher transaction costs often associated with cross-border securities.\n \n\n Most United States-based brokerage firms do not allow their customers to trade shares unless they are DTC eligible. This accomplishment will enable Covalon to generate increased U.S. interest, which will enhance liquidity and improve Covalon’s positioning in the United States, where companies with Covalon’s financial performance trade at much higher market values.\n \n\n “\n \n This is a major milestone for Covalon as we expand our visibility and access to a broader investor base,\n \n ” said Brent Ashton, CEO of Covalon. “\n \n Receiving DTC eligibility significantly streamlines the investment process for U.S. shareholders and demonstrates the commitment to growing our presence in U.S. capital markets, where we have received very positive feedback from investors.”\n \n\n\n In addition, in the Company’s May 15, 2025 press release, Covalon announced the promotion of Kim Crooks appointment to Covalon’s Board of Directors, and the awarding of 150,000 common share stock options, both of which were subject to the approval of the TSX Venture Exchange.\n \n\n The Options were granted pursuant to the Company’s Omnibus Long-Term Incentive Plan on May 30, 2025, and are subject to the terms of the applicable grant agreement, the requirements of the TSX Venture Exchange, and shareholder approval at the Company’s next Annual General Meeting, scheduled in early 2026.\n \n\n The Options were granted at an exercise price of $2.50 per share, effective May 30, 2025. ...