Marapharm Enhances Market Profile with DTC Eligibility on OTC
KELOWNA, BC / ACCESSWIRE / July 28, 2016 / Marapharm Ventures Inc. (CSE:MDM, FSE:2M0, OTCQB:MRPHF)(“Marapharm” or the “Company”) (http://www.marapharm.com/) announces today that it has been made eligible for book-entry delivery and depository services of The Depository Trust Company (the “DTC”) to facilitate electronic settlement and transfer of its common shares on the US stock exchange OTC (otcmarkets.com, symbol MRPHF).
The Depository Trust Company is one of the world’s largest securities depositories. The DTC, founded in 1973 and based in New York City, is organized as a limited purpose trust company and provides safekeeping through electronic recordkeeping of securities balances, holding over thirty-five trillion dollars’ worth of securities on deposit. While there is no requirement that any security be held at DTC to trade, many brokerage firms and issuers want to take advantage of the efficiencies and costs benefits that DTC offers. In contrast many stock exchanges require DTC eligibility prior to listing of a security.
The DTC accepts deposits of securities from its participants only, who are usually clearing firms.
DTC helps boost efficiencies, reduce risk and lower costs for participants, issuers and investors throughout the lifecycle of a security. The benefits begin with the eligibility/underwriting process, which enables the initial distribution of a security offering to be made electronically to financial institutions that are DTC participants and ultimately to investors. Once a security becomes eligible, DTC, through its nominee Cede & Co., is the registered holder of the securities, routinely processing dividend and interest payments and managing the electronic, “book-entry” transfer of interests in securities among participants. These participants are often holding and transferring interests in the securities at the direction of their customers, including ultimate beneficial owners.
Securities approved for eligibility for electronic clearance and settlement through the DTC are considered “DTC eligible.” This electronic method of clearing securities accelerates the receipt of stock and cash, and thus streamlines the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. The DTC, subsidiary of the Depository Trust & Clearing Corporation (DTCC) manages the electronic clearing and settlement process of companies trading publicly.
“The broadened appeal will allow brokers, and professional advisors previously unable or unwilling to follow or recommend the company’s stock, to become more familiar with our corporate story at this exciting phase of enterprise, growth and development!,”stated Linda Sampson, CEO.
“The DTC approval comes swiftly on the heels of the development of a number of recent projects designed to broaden the Company’s presence in its rapidly expanding marketplace”, continued Sampson, “We are very pleased to be able to confirm our eligibility. Electronic trading is the standard in today’s financial marketplace, and becoming DTC eligible greatly simplifies the process of trading our common stock in the US, vastly widening our audience and potential shareholder base! Further, by facility and enabling trading over a broader range of firms. DTC eligibility increases the efficiency and security of the market for our shareholders, lowers the cost and transaction risk, and serves as a reflection of our ongoing efforts to support our growing investor base as the Company develops.”
About Marapharm Ventures Inc.
Additional information on the operations or financial results of Marapharm are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (http://www.thecse.com/) and Sedar website (http://www.sedar.com/ ) under the profile for Marapharm Ventures Inc.
FOR FURTHER INFORMATION:
Neither the CSE, the FSE nor the OTCQB® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQB® accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
SOURCE: Marapharm Ventures Inc.
ReleaseID: 442967
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