17:55:09 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



GAR Ltd
Symbol NETC
Shares Issued 1,166
Close 2018-06-20 C$ 0.11
Market Cap C$ 0,128
Recent Sedar Documents

GAR shares now DTC eligible

2018-06-20 09:27 ET - News Release

Mr. Mark Binns reports

NETCOINS ANNOUNCES DTC ELIGIBILITY OF ITS COMMON SHARES IN THE UNITED STATES

GAR Ltd., doing business as Netcoins, has noted that its common shares trading in the United States (under the symbol GARLF) are Depository Trust Company (DTC) eligible, effective June 19, 2018.

DTC is a subsidiary of The Depository Trust & Clearing Corp., which manages electronic clearing and settlement of publicly traded companies. Securities, such as Netcoins', that are eligible to be electronically cleared and settled through the DTC are considered DTC eligible. Trading of securities through DTC allows for cost-effective clearing and guaranteed settlement, in turn simplifying and accelerating the settlement process for investors trading the company's shares.

Securities that do not have DTC eligible status are often not accepted for trading at many brokerages due to the amount of paperwork and staff required to execute and settle trades, which makes it more difficult for a significant percentage of investors to easily access the shares in question.

Mark Binns, Netcoins chief executive officer, commented: "We are very pleased to have obtained DTC eligibility. This status will greatly simplify the process of investors and brokers trading and exchanging our stock in the United States, which will benefit Netcoins and our shareholders. We also expect that being DTC eligible will improve our overall share liquidity and the attractiveness of Netcoins' shares on the market, particularly as we continue to gain international exposure and add retail locations."

DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the U.S. Securities and Exchange Commission.

In addition to the trading in the U.S., the company's shares continue to trade on the Canadian Securities Exchange and the Frankfurt Stock Exchange.

About GAR Ltd.

The company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 19,000-plus retail locations in Canada, Europe and Australia, and an over-the-counter (OTC) trading desk accessible globally.

We seek Safe Harbor.

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