Innovotech Inc. (TSXV: IOT) announced today its intention to apply for a stock quotation on the OTCQB Venture Market, an over-the-counter market operated by OTC Markets Group in the United States. The move is designed to enhance the company's visibility among U.S. investors and improve the liquidity of its common shares. The OTCQB quotation will operate in parallel with Innovotech's primary listing on the TSX Venture Exchange, allowing the company to reach a broader investor base without imposing additional material compliance or reporting requirements.
As a foreign private issuer, Innovotech will continue to meet its disclosure obligations through SEDAR+, which satisfy OTC market requirements under established foreign issuer exemptions. To qualify for OTCQB admission, the company must meet financial standards, remain current in its reporting, and undergo an annual verification and management certification process. In conjunction with the listing, Innovotech will also apply for eligibility with the Depository Trust Company (DTC), which would enable simplified electronic clearing and settlement of its shares for U.S. investors.
Innovotech is a Canadian boutique contract research organization specializing in advanced laboratory services and commercializing proprietary technologies. The company is recognized as a leader in biofilm science, offering antimicrobial testing, pharmaceutical analysis, and industrial laboratory solutions. Its portfolio includes the widely-used MBEC Assay® kit for high-throughput antimicrobial and antibiotic testing. Innovotech serves clients across multiple sectors, providing customized research and testing services that meet rigorous regulatory standards, including those of the U.S. Food and Drug Administration and Health Canada, through its ISO-certified and GMP-accredited laboratories. More information is available at https://www.innovotech.ca.
The decision to pursue a U.S. listing reflects Innovotech's strategic goal to increase its accessibility to retail and institutional investors in the United States, potentially broadening its shareholder base and improving trading liquidity. The OTCQB market is designed for early-stage and developing U.S. and international companies, providing a transparent trading platform with real-time quotes and reporting requirements. By gaining DTC eligibility, Innovotech aims to streamline the settlement process for U.S. investors, making it easier to buy and sell shares.
This announcement contains forward-looking statements regarding the company's plans and expectations. These statements are subject to risks and uncertainties, including regulatory outcomes, currency fluctuations, reliance on a small number of customers, and other factors that could cause actual results to differ materially. The company undertakes no obligation to update these statements except as required by law. The TSX Venture Exchange and its Regulation Services Provider accept no responsibility for the adequacy or accuracy of this release.
