Loop Insights Inc. (MTRX:TSX.V) applied for "eligibility to The Depository Trust Company ("DTC") in preparation for trading company shares on the OTCQB® American Venture Market, operated by OTC Markets Group based in New York," it announced in a news release.
"By trading on the OTCQB® with DTC eligibility, we are being attentive to this investor demand, in a nation that has one of the largest retail markets," Loop CEO Rob Anson said in the release.
"With so many US-based opportunities and partnerships already in the pipeline, it's a no-brainer for us to list on this exchange. It's an important, and natural step, as our compelling story grows and transcends geographical borders," Anson added.
A listing on the OTCQB Venture Market would afford the Vancouver-based company exposure and access to a significantly larger, international investor audience and greater attention in the U.S., the company stated.
Loop noted that the listing would allow the artificial intelligence tech firm to capitalize on two current trends. One is retailers looking for innovative technologies to help them increase sales and supply chain productivity in their brick and-mortar stores. The other is the shift in technology funding toward in-store and away from e-commerce technologies.
DTC eligibility "would offer an electronic trading method that drives cost effective, timely settlements," the release explained.
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