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POSaBIT Begins Trading on OTCQX

TORONTO & SEATTLE, August 31, 2022--(BUSINESS WIRE)--POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the leading provider of point of sale software and payments infrastructure in the cannabis industry, announced today that it has qualified to trade on the OTCQX® Best Market and begins trading today on OTCQX under the symbol "POSAF." POSaBIT’s common shares will continue to also trade on the Canadian Stock Exchange under the symbol "PBIT".

"We are pleased to commence trading on the OTCQX Market, which will provide increased accessibility and liquidity for U.S. investors," said Ryan Hamlin, CEO and Co-founder of POSaBIT. "Timing couldn’t be better as we are at our strongest point in company history with clear visibility towards continued rapid growth for years to come."

The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

About POSaBIT Systems Corporation

POSaBIT is the leading payments infrastructure provider for the cannabis industry. Founded in 2015, POSaBIT's mission is to provider compliant, secure, and efficient merchant services for the cannabis industry. Well-funded and boasting an experienced team, POSaBIT has forever been a strict adherent to all regulatory guidelines within an ever-changing industry. This steadiness has allowed the company to grow and gain the trust of dispensaries large and small throughout the United States. The company currently processes millions of dollars per month in hundreds of stores across the country. Revenues have doubled every year since POSaBIT released its solutions to the market. The company is publicly traded, is routinely audited, and continues to cultivate strong relationships with banking institutions throughout the United States. POSaBIT remains focused on hyper-growth within the industry, investing heavily in continued iterations of its current technology, developing new product offerings, and the growth of its internal team.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220831005618/en/

Contacts

Investor Relations:
investors@posabit.com

Media Relations:
Jesse Swingle
855-767-2248
jesse@posabit.com

Management:
Ryan Hamlin
Co-founder and CEO of POSaBIT
855-767-2248
investors@posabit.com

Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.com