VANCOUVER, BC, Aug. 5, 2022
/CNW/ - Sparx Technology Inc. (TSXV: SPRX) (OTCQB: STCXF)
("Sparx" or the "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").
DTC eligibility is expected to simplify the process of trading
and enhance liquidity of Sparx shares in the United States. The Company's shares
recently began trading on the OTCQB® Venture Market
("OTCQB") under the ticker symbol "STCXF".
DTC is a subsidiary of the Depository Trust & Clearing
Corporation, a U.S. company that manages the electronic clearing
and settlement of publicly traded companies. Securities that are
eligible to be electronically cleared and settled through DTC are
considered to be "DTC eligible". This electronic method of clearing
securities speeds up the receipt of stock and cash, and thus
accelerates 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.
On behalf of the Board
Al Thorgeirson
CEO and President
ABOUT SPARX:
Sparx is an interactive media technology company whose principal
activities are providing media companies and sports teams with
technologies to engage audiences. The patented Sparx platform
enables broadcasters, streamers, and video producers to engage
viewers for longer, generate new revenue opportunities, and create
lean-forward experiences for audiences eager to join the action.
Millions of users can connect to the Sparx platform and interact
simultaneously on their mobile phone, tablet, or computer anywhere
in the world, in real time.
For more information about Sparx, visit the Company's website
at www.sparxtechnology.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
Statements included in this news release, including
statements concerning the Company's plans, intentions, and
expectations, which are not historical in nature, are intended to
be, and are hereby identified as, "forward–looking statements".
Forward-looking statements include, among other matters, the
anticipated use of proceeds from the Financing. Forward–looking
statements may be, but are not always, identified by words
including "anticipates", "believes", "intends", "estimates",
"expects" and similar expressions. The Company cautions readers
that forward–looking statements, including without limitation those
relating to the Company's future operations and business prospects,
are subject to certain risks and uncertainties (including risks
that the Transaction does not proceed, or proceed on the expected
terms, geopolitical risk, regulatory, Covid-19 and exchange rate
risk) that could cause actual results to differ materially from
those indicated in the forward–looking statements. There can be no
assurance that any forward-looking statement will prove to be
accurate or that management's assumptions underlying such
statements, including assumptions concerning the Company or future
developments, circumstances or results will materialize. The
forward-looking statements included in this news release are made
as of the date of this news release and the Company does not
undertake to update or revise any forward-looking information
included herein, except in accordance with applicable securities
laws.
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SOURCE Sparx Technology Inc.