TruTrace Technologies Announces OTCQB Listing
TORONTO , July 30, 2019 /CNW/ - TruTrace Technologies Inc. (CSE: TTT; OTCQB: TTTSF) ("TruTrace" or the "Company"), creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, today announced that its common shares have commenced trading on the OTCQB® Venture Market, under the symbol TTTSF. The Company believes that trading on the OTCQB, along with the DTC eligibility it secured earlier this year, provides additional liquidity and exposure amongst U.S. investors.
"As our company continues to execute on its growth strategy, the United States market is becoming increasingly important both in terms of investor interest and strategic opportunities," said TruTrace Technologies CEO Robert Galarza . "The expansion of the legal cannabis market throughout the largest economy in the world should not be ignored in today's market."
The OTCQB Venture Market offers early stage and developing companies the benefits of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Investors benefit from convenient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure that is made broadly available to broker-dealers and market data providers. Investors can find information and trading statistics on TruTrace at https://www.otcmarkets.com
Company Announces Grant of Options
The Company also announced that it has granted an aggregate of 1,500,000 stock options to certain directors and officers of the Company, and a consultant (the "Optionees") for the purchase of up to 1,500,000 common shares of the Company pursuant to its Stock Option Plan. Each option is exercisable for a period of five years at a price of $0.25 per common share.
The options and the shares issuable upon the exercise of the options held by the Optionees are subject to a Canadian Securities Exchange hold period of four months from the date of grant of the stock options.
The stock options granted to directors and officers vest annually with 1/3 vesting immediately on the date of grant, 1/3 vesting one year after the date of grant, and 1/3 vesting two years after the date of grant.
The stock options granted to the consultant vest upon the completion of certain vesting milestones, as to 25% on the completion of a first vesting milestone, 10% on the completion of a second vesting milestone, 15% on the completion of a third vesting milestone, 15% on the completion of a fourth vesting milestone, 15% on the completion of a fifth vesting milestone, 15% on the completion of a sixth vesting milestone, and 5% on the completion of the seventh and final milestone.
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace'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. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.