St. Albert, Alberta – January 23, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise”). Enterprise, a consolidator of energy services (including specialized equipment rental to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) emissions for small local and Tier One global resource clients, announces that its shares have been accepted for listing on the U.S. OTCQB.
Enterprise is pleased to announce that the Company’s common shares have begun trading on the OTCQB Venture Market (“OTCQB”) effective today under the ticker symbol ETOLF. In addition to the listing, Enterprise shares are now eligible for electronic clearing and settlement with the Depository Trust Company (“DTC”) for trading in the USA.
Leonard D. Jaroszuk, President & CEO, comments, “Our listing on the OTCQB will help to increase Enterprise’s visibility, and accessibility to a growing audience of U.S. investors as the Company advances its unique equipment offerings to a dynamic energy economy here in Canada.”
About the OTCQB
The OTCQB offers Canadian companies the benefits of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Streamlined market standards enable Canadian companies to provide a strong baseline of transparency to inform and engage U.S. investors. Canadian companies must be current in their SEDAR reporting and undergo an annual verification and management certification process to be eligible.
As a verified market with efficient access to U.S. investors, the OTCQB helps Canadian companies build shareholder value to enhance liquidity and achieve fair valuations. As a result, more Canadian companies are traded on OTC Markets than New York Stock Exchange and New York Stock Exchange Market and Nasdaq combined. The key benefits of trading on the OTC Markets include efficient market standards, transparency, and visibility.
OTCQB is recognized by the SEC as an established public market. OTCQB companies provide current company information and meet financial standards that enable brokers to quote and trade a security. Companies engage a far greater network of U.S. investors, data distributors and media partners, ensuring U.S. investors have access to the same high-quality information available to investors in Canada but through U.S. platforms and portals to conduct research.
DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. Company that manages publicly traded companies’ electronic clearing and settlement. Securities that are eligible to be electronically cleared and settled through DTC are considered “DTC eligible.” DTC eligibility simplifies the process of trading and transferring the Company’s common shares between brokerages in the U.S. DTC eligibility is expected to create a seamless rotation of trading and enhance the liquidity of the Company’s common shares in the U.S. over time.
About Enterprise Group, Inc.
Enterprise Group, Inc is a consolidator of services-including specialized equipment rental to the energy/resource sector. The Company works with particular emphasis on systems and technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available at the Company’s website www.enterprisegrp.ca. Corporate filings can be found on www.sedar.com.
For questions or additional information, please contact:
Leonard Jaroszuk: President & CEO, or
Desmond O’Kell: Senior Vice-President
This news release may contain certain forward-looking information, as defined under applicable Canadian securities legislation, that is not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. In particular, this news release includes forward-looking information relating to the Company’s intention to purchase Shares pursuant to the normal course issuer bid, the number of Shares to be purchased, the timing of such purchases and the impact of such purchases on the value of the remaining Shares. Actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. There is no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in the Company’s Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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