Trading Upgrade to OTCQX Best Market and Torrey Hills Capital Engaged
MISSISSAUGA, ON, August 3, 2021 – Microbix Biosystems Inc. (TSX: MBX, OTCQX: MBXBF, Microbix®), a life sciences innovator and exporter, announces that it has undertaken two actions to improve its profile with United States (U.S.) based investors and to improve its trading liquidity in that market; (i) effective today, achieving qualification to trade on the OTCQX® Best Market under the symbol MBXBF, and (ii) engaged the California-based firm Torrey Hills Capital for U.S. directed investor relations services.
The OTCQX® Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX, companies must meet high financial standards, follow best-practices corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market, as Microbix has now done, marks an important milestone for companies by enabling them to demonstrate their qualifications and build visibility among U.S. investors. OTCQX quote information about Microbix is available at https://www.otcmarkets.com/stock/MBXBF/overview.
Torrey Hills Capital was formed in 1988 and is headquartered in Rancho Santa Fe, California. Its team of professionals offer experience and expertise in investor relations, corporate communications, non-deal road shows, and market-support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, AMEX, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com.
Over the past several years, Microbix has been focused on building value by strategically-positioning to; (i) grow sales by creating and launching new products that are innovative, proprietary, and branded, (ii) building an international distribution network and improving end-user access, (iii) increasing margins through operational excellence, and (iv) keeping control of costs. That work has been reflected in the record financial results announced for the first and second quarters of fiscal 2021 and should likewise drive the results of future quarters. However, it is equally important that such positive results are more widely recognized by current and prospective shareholders, a goal that Microbix believes will be assisted by this U.S. market upgrade to OTCQX and investor relations engagement of Torrey Hills Capital.
Currently, the majority of trading in Microbix shares is taking place on Canadian stock exchanges, with three-month average daily volume of about 200,000. In contrast, average daily volume over the past three-months on the prior OTCQB market was under 20,000. Microbix believes that improving its profile via this upgrade to the OTCQX alongside active outreach to potential U.S. investors should improve overall corporate visibility and trading liquidity. Torrey Hills Capital has been mandated with a twelve-month engagement and is being compensated with cash and options.
About Microbix Biosystems
Microbix develops proprietary biological technology solutions for human health and well-being, with about 90 skilled employees and sales approaching C$ 2.0 million per month. It 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 the quality of clinical diagnostic workflows. 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 are now available in over 30 countries, distributed by 1WA (Oneworld Accuracy Inc.), Alpha-Tec Systems, Inc., Diagnostic International Distribution SpA., Labquality Oy, The Medical Supply Company of Ireland, R-Biopharm AG, SDT Molecular Pte Ltd, Seegene Canada Inc., and Thomas Scientific LLC. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, 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 viral transport medium (DxTM™) to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.
Sales or distribution inquiries should be directed to email@example.com.
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 OTCQX Best Market and Torrey Hills Capital, objectives of the market upgrade and investor relations engagement, the referenced product lines or their uses, 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.microbix.com or www.sedar.com for recent Microbix news and filings.
For further information, please contact Microbix at:
|Cameron Groome, CEO
Adelaide Capital Markets
(647) 203-8793 firstname.lastname@example.org
Torrey Hills Capital
Copyright © 2021 Microbix Biosystems Inc.
Microbix®, DxTM™, Kinlytic®, and QAPs™ are trademarks of Microbix Biosystems Inc.
OTCQX® Best Market is a trademark of OTC Markets Group Inc.