NEW YORK, NEW YORK, USA, March 26, 2021 /EINPresswire.com/ -- Winning Brands Corporation www.WinningBrands.com reports that it has been approved for DWAC/DRS service. Winning Brands was not previously eligible for this preferred stock transfer system in all cases, and the development is significant for the company.
Winning Brands is gaining visibility in consumer product and waste management circles as the manufacturer of a spray cleaner concentrate for consumer use that reduces empty plastic bottle garbage by 95% amongst users, and dramatically reduces consumer costs. www.1000Plus.ca The company is also focusing on improving its investor experience through enhanced shareholder services and considers the DWAC/DRS approval as a major step forward toward this goal.
DWAC, also known as Deposit/Withdrawal at Custodian, enables electronic transfer of paper share certificates to and from the Depository Trust Company. The DWAC system is one to the two preferred methods used to transfer stock between the DTC and broker dealers; DRS (Direct Registry System) is the other. These systems allow broker dealers to hold the securities in electronic form with the transfer agent rather than requiring paper certificates.
The approval is one element of a larger plan by Winning Brands to improve the investor experience for Winning Brands stakeholders. Another is the recently announced intention by the company to provide updated disclosure under OTC Markets Alternative Reporting Guidelines, in order to regain the Pink Current Information Tier designation. Progress is being made in this regard as well. Winning Brands CEO, Eric Lehner comments: “I am pleased to report that OTC Markets, despite an especially heavy workload this year, has yesterday approved Winning Brands’ application for permission to upload via OTC Market’s “OTCIQ” platform, and all fees have been paid. Winning Brands will sign the OTC Markets agreement today. Log-in information will be provided to Winning Brands next week. The updated disclosure material may be visible to the public at OTC Markets by the evening of April 2nd. When these uploads are in place, then an attorney with standing before the OTC Markets group will be permitted to submit a legal opinion letter as to their suitability under the Alternative Reporting Guidelines. OTC Markets will then process the updated disclosure in accordance to their workload with the goal of awarding the Pink Current Information tier to Winning Brands.
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