Permex Petroleum Announces Application for DTC Eligibility for Its Shares on OTCQB Market
Vancouver, British Columbia, May 5, 2021 - Permex Petroleum Corporation ("Permex" or the "Corporation") (CSE: OIL) (OTCQB: OILCF) announces that it has submitted an application to The Depository Trust Company (“DTC”) for its shares being traded on the OTC Markets. The Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation DTCC, manages the electronic clearing and settlement of publicly traded companies. Securities eligible to be electronically cleared and settled through the DTC are considered “DTC eligible”. The electronic method of clearing securities speeds up the receipt of stock and cash and accelerates the settlement process for investors trading on the OTC marketplace. Furthermore by becoming DTC eligible companies can expect higher trading volumes in their stock given the additional accessibility and availability of shares for trading. The Company expects to be fully DTC eligible in the second half of 2021.
“As we continue to execute our business plans to expand our public market presence in the United States and Canada, we want investors to not only have direct access to our common shares in both countries but benefit from further liquidity,” said Mehran Ehsan, CEO of Permex. “DTC eligibility will allow us to increase liquidity and broaden our shareholder base, while opening the door to new retail and institutional investors that may have previously been restricted from transacting in the Company’s shares.”
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Neither Canadian Securities Exchange, OTCMarkets nor their Regulation Services Providers (as that term is defined in their respective policies) accept responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE, OTC Markets nor their Regulation Services Providers (as that term is defined in the policies of either exchange) accepts responsibility for the adequacy or accuracy of this release.
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