Netcoins Announces DTC Eligibility of its Common Shares in the United States
VANCOUVER, British Columbia, June 20, 2018 (GLOBE NEWSWIRE) -- GAR Limited. d/b/a/ Netcoins(“NETC” or the "Company") (CSE:NETC) is pleased to announce that the Company's common shares traded in the United States, under the symbol GARLF, are Depository Trust Company ("DTC") eligible, effective June 19, 2018.
DTC is a subsidiary of The Depository Trust & Clearing Corporation, which manages electronic clearing and settlement of publicly traded companies. Securities, such as NETC’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 NETC'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.
Netcoins CEO, Mark Binns, 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 Netcoins and our shareholders. We also expect that being DTC-eligible will improve our overall share liquidity and the attractiveness of Netcoins' shares on the market, particularly as we continue to gain international exposure and add retail locations."
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 US, NETC’s shares continue to trade on the Canadian Securities Exchange (CSE:NETC) and the Frankfurt Stock Exchange (WKN:1WJ.F).
About the Company
The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 21,000+ retail locations in Canada, Europe and Australia and an Over-The-Counter (OTC) trading desk accessible globally.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark Binns”
Mark Binns
CEO and Director
For Investor Relations Inquiries please contact Skanderbeg Capital Advisors at 604 687 7130 or email ir@gonetcoins.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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