OTC Markets Listing and DTC Electronic Clearance Eligibility
MISSISSAUGA, ON, CANADA, July 14, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), an award-winning life sciences innovator and exporter, announces that it has completed two processes to make its common shares available for U.S. investors to buy and sell; (i) the listing of its common shares on the OTCQB platform under the ticker symbol MBXBF, and (ii) approval for electronic clearance and settlements of trades by way of DTC Eligibility.
The OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market provide forums for the trading of 10,000 U.S. and global securities, operated by NY, NY based OTC Markets. OTCQB enables investors to easily trade through the broker of their choice and empowers companies to make the required disclosures available for U.S. investors. Real-time OTCQB quote and market information is available at www.otcmarkets.com/stock/mbxbf/overview.
DTC is the Depository Trust Company, a member of the 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. DTC provides for the shares of eligible international and U.S. companies to be electronically cleared and settled through its systems (DTC Eligibility).
Jim Currie, CFO of Microbix, commented, “Almost all our sales are recorded from customers outside of Canada, with a large proportion from the United States. It therefore makes sense to enable U.S. investors to consider ownership of shares in Microbix, particularly given their higher level of interest in life sciences companies and our ongoing work to increase the scale of our revenues and level of profitability. Trading on the OTCQB should increase the company’s investor support base into the United States, by providing new and existing shareholders in the U.S. with an efficient and transparent trading platform.”
Microbix common shares continue to trade on the Toronto exchange under the stock symbol MBX, with real-time TSX market information available at https://web.tmxmoney.com/quote.php?qm_symbol=MBX.
About Microbix Biosystems
Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales now exceeding $1 million per month on average. Microbix makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure quality control of clinical diagnostic tests.
Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs, including those supporting COVID-19 testing, are now available in 22 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Microbix is ISO 9001 and 13485 accredited, FDA and Health Canada establishment licensed, and provides CE marked products.
Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots.
Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and the U.S. OTCQB Market, and headquartered in Mississauga, Ontario, Canada.
This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of, the DTC Eligibility or DTC, the OTCQB listing or OTC Markets, Microbix’s business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its corporate presentation, regulatory compliance and approvals, sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.
Please visit www.microb.wpengine.com or www.sedar.com for recent Microbix news and filings.
For further information, please contact Microbix at:
Cameron Groome, CEO
Jim Currie, CFO
Deborah Honig, Investor Relations
Adelaide Capital Markets
(647) 203-8793 email@example.com