DENVER, June 26, 2019 /CNW/ - PRESS RELEASE - Dixie Brands Inc., a consumer packaged goods company in the cannabis industry, has announced that its subordinate voting shares will commence trading on the OTCQX Best Market beginning today, under the symbol DXBRF. While the company currently trades under the symbol "DXBRF," it has submitted a request to FINRA to change its symbol to more closely align with its CSE trading symbol, DIXI.U.
Dixie also announced that its shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company (DTC). 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. DTC services provide cost benefits for investors and brokers trading Canadian securities in the United States.
"Trading our shares in our home market, where Dixie's brand recognition is strongest and most of our earliest investors reside, is an important step for our company," said Chuck Smith, president and CEO of Dixie. "We expect the trading on OTCQX and DTC eligibility to enhance our liquidity and exposure in U.S. capital markets as we continue to execute on our growth strategy."
The OTCQX Best Market offers established companies the advantages of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Investors benefit from convenient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure that is made broadly available to broker-dealers and market data providers. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and meet certain other requirements. Investors can find information and trading statistics on Dixie at https://www.otcmarkets.com.