ProStar Announces DTC Eligibility of its Common Shares
GRAND JUNCTION, Colo., Aug. 4, 2021 /CNW/ -- ProStar Holdings Inc. ("ProStar®" or the "Company") (TSXV: MAPS) (FSE 5D00), a world leader in Precision Mapping Solutions®, today announced that its common shares received approval from The Depository Trust Company ("DTC") of New York, NY and are now DTC eligible.
DTC eligibility allows ProStar shares to be more easily and economically transferred between brokerage accounts electronically within the United States. DTC is the largest securities depository in the world, providing clearing and settlement efficiencies for brokers, as well as various other services.
Page Tucker, CEO of ProStar, stated: "Achieving DTC eligibility to simplify trading of ProStar shares makes us accessible to an even broader range of investors and is expected to assist with our goal of increasing the liquidity and convenience of trading our shares within the United States and other jurisdictions."
About Depository Trust Company (DTC)
Depository Trust Company (DTC) was founded in 1973 and is a New York corporation that performs the functions of a Central Securities Depository as part of the US National Market System. DTC manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible." DTC annually settles transactions worth hundreds of trillions of dollars, processes hundreds of millions of book-entry deliveries, and custodies millions of securities issues worth tens of trillions of dollars issued in the United States and over 100 other countries. Since 1999 it has been a subsidiary of the Depository Trust & Clearing Corporation, a securities holding company.
About ProStar (TSXV: MAPS) (FSE: 5D00)
ProStar is a world leader in Precision Mapping Solutions. ProStar's flagship product, PointMan®, is natively cloud and mobile and is offered as a Software as a Solution (SaaS). ProStar's solutions seamlessly connect the field and office and provide the ability to precisely capture, record, display, and manage critical infrastructure data in real time including roads, railways, pipelines, and utilities. ProStar's solution is being adopted by some of the largest entities in North America, including Fortune 500 construction firms, the largest subsurface utilities engineering (SUE) firms, utility owners, and government agencies.
ProStar has strategic business partnerships are with the world's leading geospatial technology providers, data collection equipment manufacturers and their dealer networks, including Trimble® Juniper® Systems, Bad Elf, Vivax-Metrotech, Radiodetection®, and Subsite® Electronics.
The Company has made a significant investment in creating a vast intellectual property portfolio that includes 19 issued patents in the United States and Canada, with more pending. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure including buried utilities and pipelines.
ProStar's Executive management team has extensive experience in the management of both early stage and Fortune 500 technology companies in the private and public sectors. The leadership team includes Vasa Dasan, former CTO of Sun Microsystems, Carl Lashua, previous Chief Information Officer of HSBC Canada and Europe, and Matthew Breman, prior Executive for Disney.
For more information about ProStar, please visit: www.prostarcorp.com.
Contact:
Alex Moore
Investor Relations
970-822-4792
[email protected]
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company's future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate", and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company's securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company's recent Information Circular filed on SEDAR on November 20, 2020 for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company's issuer page on SEDAR at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE ProStar Corp
Share this article