Thermal Energy International Inc V.TMG

OTCQB Application for TEI

[canwes]

Thermal Energy International Announces Application to Trade on OTCQB Market in the US

OTTAWA, ONTARIO – June 22, 2021 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG; Pink: TMGEF) an innovative cleantech company and global provider of energy efficiency and emissions reduction solutions, has announced that it has submitted an application to qualify its common shares for trading on the OTCQB^® Venture Market (the “OTCQB”)  in the United States.

In the meantime, the Financial Industry Regulatory Authority (or FINRA) has cleared the Company's Form 211, which qualifies the Company's shares to trade in the United States on the Pink Market under the symbol "TMGEF".
 
The Company has also received confirmation that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (i.e. "DTC Eligible"). This electronic method of clearing securities simplifies the process of trading the Company's common shares accelerating the settlement process for investors and brokers and enabling the stock to be traded over a much wider selection of brokerage firms.
 
The OTCQB, operated by OTC Markets Group Inc., is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. Trading on OTCQB enables investors to easily trade through the broker of their choice and empowers companies to improve the quality of information available for investors. As a verified market with efficient access for United States investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
 
The Company's common shares will continue to trade on the TSX Venture Exchange (the "TSX-V") under the symbol TMG.
 
"We are pleased to have initiated the process to trade our common shares on the OTCQB.” said William Crossland, CEO of Thermal Energy.
 
“We look forward to our OTCQB application being accepted as it represents an important strategic step towards providing easier access to our Company's common shares for both institutional and retail investors in the U.S. as we continue to respond to the ever-increasing demand to lower carbon emissions in the U.S. and world-wide.”  
 
The trading of the Company's common shares on the OTCQB remains subject to approval by the OTC Markets Group and the satisfaction of all applicable OTCQB standards. Shareholders will be updated on the status of the application as more information becomes available.
 
For more information on the Company visit: www.thermalenergy.com/investors.