CROP Infrastructure Corp. (CSE:CROP, OTC:CRXPF) (“Crop” or the “Company”) announces that it has secured The Depository Trust Company (DTC) eligibility for its shares traded in the United States under the symbol CRXPF. The Company’s common shares traded on the OTC Market in the United States, under the symbol “CRXPF” are Depository Trust Company (“DTC”) eligible, effective June 12, 2018. The DTC will facilitate electronic settlement of transfers of its common shares in the United States.
Michael Yorke, CEO of Crop states: “Crop is registering its shares with DTC as a fundamental step towards establishing the company with the American investment community. The DTC’s electronic settlement of our shares is critical to having an effective market. Our goal is to graduate to a more senior exchange in the future, and expand our business endeavors globally.”
The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers. Securities that are not DTC-eligible are often not accepted for trading at many brokerages due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to access the shares. Additionally companies that are approved for DTC electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
About CROP Infrastructure Corp.
CROP Infrastructure Corp. is engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the Continue Reading