SPARQ Commences Trading on OTCQX and Announces DTC Eligibility
Toronto, Ontario–(Newsfile Corp. – August 4, 2022) – SPARQ Corp. (TSXV: SPRQ) (OTCQX: SPRQF) (the “Company“) is pleased to announce that, effective as of August 4, 2022, the Company’s common shares commenced trading on the OTCQX® Best Market (“OTCQX“) under the symbol “SPRQF”. The Company’s common shares will continue to trade on the TSX Venture Exchange as its primary listing under the symbol “SPRQ”.
OTCQX provides value and convenience to U.S. investors, brokers and institutions seeking to trade SPRQF. OTCQX is OTC Markets Group’s premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
In addition, the Company also announced that its common shares are now eligible for electronic clearance and settlement through the Depository Trust Company (“DTC“). DTC eligibility accelerates and simplifies the settlement of trades for U.S. investors and brokers, enabling the common shares to be traded over a wider range of brokerage firms. The Company expects that securing DTC eligibility, in tandem with trading on OTCQX, will provide greater visibility and convenience of trading for U.S. investors.
Praveen Jain, the Company’s Chief Executive Officer, commented, “Obtaining a quotation on OTCQX and securing DTC eligibility represents an important milestone for the Company as we seek to grow our U.S. investor base by increasing liquidity and building awareness of SPARQ’s capital markets profile.”
SPARQ designs and manufactures next generation single-phase microinverters for residential and commercial solar electric applications. SPARQ has developed a proprietary PV solution called the Quad; the Quad inverter optimizes four PV modules with a single microinverter, simplifying design and installation, and lowering cost for solar power installations when compared to existing market offerings.
SPARQ’s head office is located at 945 Princess Street, Kingston, Ontario, K7L 0E9.
Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the expected completion of Ti-Lane’s manufacturing facility, the quantity of units to be manufactured for SPARQ on a monthly basis, and technical, financial and business prospects of the Company, future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s filing statement dated December 23, 2021. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward -looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Dr. Praveen Jain
Chief Executive Officer
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