The company said it was a further step towards establishing the company with the US investment community
Cannabis-focused Biome Grow Inc (CSE:BIO) (OTCMKTS:ORTFF) said its shares have now been deemed DTC eligible by the Depository Trust Company (DTC) for its shares traded in the United States under the symbol ORTFF.
"We are very pleased to have obtained DTC eligibility," said Khurram Malik, chief executive officer. "Biome is registering its shares with DTC as a fundamental step towards establishing the company with the American investment community."
"This electronic method of clearing securities expedites the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms. The DTC's electronic settlement of our shares is critical to having an effective market."
The DTC will facilitate electronic settlement of transfers of the company's common shares in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash, thus accelerating the settlement process for certain investors.
Shares of Biome Grow perked up 6% on Thursday at C$0.53.
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