MISSISSAUGA, Ontario, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. ( TSX: MBX, OTCQX: MBXBF, Microbix® ), a life sciences innovator and exporter, announces that it has undertaken two actions to improve its profile with United States (U.S.) based investors and to improve its trading liquidity in that market; (i) effective today, achieving qualification to trade on the OTCQX® Best Market under the symbol MBXBF, and (ii) engaged the California-based firm Torrey Hills Capital for U.S. directed investor relations services.
The OTCQX® Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX, companies must meet high financial standards, follow best-practices corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market, as Microbix has now done, marks an important milestone for companies by enabling them to demonstrate their qualifications and build visibility among U.S. investors. OTCQX quote information about Microbix is available at https://www.otcmarkets.com/stock/MBXBF/overview.
Torrey Hills Capital was formed in 1988 and is headquartered in Rancho Santa Fe, California. Its team of professionals offer experience and expertise in investor relations, corporate communications, non-deal road shows, and market-support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, AMEX, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com.
Over the past several years, Microbix has been focused on building value by strategically-positioning to; (i) grow sales by creating and launching new products that are innovative, proprietary, and branded, (ii) building an international distribution network and improving end-user access, (iii) increasing margins through operational excellence, and (iv) keeping control of costs. That work has been reflected in the record financial results announced for the first and second quarters of fiscal 2021 and should likewise drive the results of future quarters. However, it is equally important that such positive results are more widely recognized by current and prospective shareholders, a goal that Microbix believes will be assisted by this U.S. market upgrade to OTCQX and investor relations engagement of Torrey Hills Capital.
Currently, the majority of trading in Microbix shares is taking place on Canadian stock exchanges, with three-month average daily volume of about 200,000. In contrast, average daily volume over the past three-months on the prior OTCQB market was under 20,000. Microbix believes that improving its profile via this upgrade to the OTCQX alongside active outreach to potential U.S. investors should improve overall corporate visibility and trading liquidity. Torrey Hills Capital has been mandated with a twelve-month engagement and is being compensated with cash and options