Increases Accessibility for US Investors
VANCOUVER, Feb. 25, 2019 /CNW/ - BLOCKStrain Technology Corp. (TSX:V: DNAX.V) (OTC: BKKSF) ("BLOCKStrain"), creator of the first Blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, is pleased to announce that its shares have received Depository Trust Company (DTC) full-service eligibility in the United States. DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company's common shares in the United States.
Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. DTC eligibility enables shares of BLOCKStrain to be distributed, settled and serviced through DTC's automated processes, thereby taking advantage of the efficiencies created in the electronic method of clearing securities and the resulting cost benefits that DTC provides through accelerated settlement processes. Companies that are DTC eligible often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
"DTC eligibility is another milestone for BLOCKStrain," said CEO, Robert Galarza. "With improved settlement for our shares, it opens up an opportunity for US investors to participate in the BLOCKStrain growth story and makes it much easier to buy our stock."
BLOCKStrain has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. BLOCKStrain's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. BLOCKStrain's technology is proprietary, immutable and cryptographically secure, thereby establishing a single-source, accurate, validated, and permanent account for cannabis strains from ownership to market.
NEITHER THE 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.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon BLOCKStrain's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact, including statements that DTC eligibility is expected to simplify the process of trading and enhance the liquidity of the Company's common shares. Forward-looking information necessarily involves known and unknown risks, including risks associated with general economic conditions; failure of the DTC eligibility to simplify trading in, and liquidity of, the Company's common shares; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of BLOCKStrain to implement its business strategies; competition; and other risks. These forward-looking statements are made as of the date hereof and BLOCKStrain disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE BLOCKStrain Technology Corp.
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