viewLoop Insights Inc.

Loop Insights applies for DTC eligibility in preparation for trading on OTCQB venture market

The OTCQB listing would broaden Loop's access to a much larger, international group of investors as the company seeks to go global

Loop Insights Inc. - Loop Insights Inc applies for The Depository Trust Company eligibility in preparation for trading on The OTC Market Group Inc’s OTCQB American Venture Market in New York
New York-based OTC Markets Group operates the OTCQB market as well as the OTCQX Best Market and the Pink Open Market

Loop Insights Inc (CVE:MTRX) (OTCMKTS:VRZPF), a provider of artificial intelligence solutions, said it has applied for eligibility to The Depository Trust Company (DTC) in preparation for trading on the OTCQB Venture Market in New York.

The OTC Markets Group Inc (OTCQX:OTCM) operates the OTCQB market as well as the OTCQX Best Market and the Pink Open Market for 10,000 US and global securities. 

In a statement Wednesday, Loop said its listing on the OTCQB would be a timely milestone, as the expanding company has built a robust pipeline of activity tied to product and business development. 

READ: Loop Insights advances projects with North American telecommunication and network giants

The Vancouver-based company noted a recent CB Insights report which found that over the past few years, in-store tech investment has steadily increased (60% in 2019 alone), while funding for e-commerce companies has declined. 

The report also found that retailers are turning to innovative technologies designed to boost sales and supply chain productivity in their stores. In 2019, for example, 80% of customers were found using their mobile phone while in a brick and mortar store.

If successful, Loop said the OTCQB listing would be a strategic move to leverage this shift in tech funding, and broaden its access to a much larger, international group of investors as the company seeks to go global.

DTC eligibility

The company said DTC eligibility will offer an electronic trading method that drives cost-effective, timely settlements. Because some US firms prohibit the trading of shares that are not DTC eligible, this will widen the company's exposure and scope of opportunity in the US market.

"By trading on the OTCQB with DTC eligibility, we are being attentive to this investor demand, in a nation that has one of the largest retail markets,” Loop CEO Rob Anson said in a statement.

“With so many US-based opportunities and partnerships already in the pipeline, it's a no-brainer for us to list on this exchange. It's an important, and natural step, as our compelling story grows and transcends geographical borders."

OTC Market Group, through its OTC Link ATS and OTC Link ECN, connects a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets enables investors to easily trade through the broker of their choice and enable companies to improve the quality of information available for investors.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Loop Insights Inc.

Price: 0.19 CAD

Market: TSX-V
Market Cap: $17.14 m

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