TORONTO, Dec. 13, 2018 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Biome Grow Inc. has announced that it has secured The Depository Trust Company (DTC) eligibility for its shares traded in the United States under the symbol ORTFF. The company's common shares traded on the OTC Market in the United States, under the symbol "ORTFF" are DTC eligible, effective Dec. 13th, 2018. The DTC will facilitate electronic settlement of transfers of its common shares in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investors.
Khurram Malik, chief executive officer of Biome, states, "We are very pleased to have obtained DTC eligibility. Biome is registering its shares with DTC as a fundamental step towards establishing the company with the American investment community. This electronic method of clearing securities expedites 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. The DTC's electronic settlement of our shares is critical to having an effective market."
The DTC is a subsidiary of the Depository Trust & Clearing Corp. that manages the electronic clearing and settlement of publicly traded companies in the United States. DTC eligibility will simplify the process of trading and is expected to enhance liquidity of the Company's common shares on the OTC marketplace.
