Key Highlights:
- TUT Fitness Group commences trading on the OTCQB under the symbol GYMFF
- TUT Fitness Group obtains DTC eligibility
VANCOUVER, BC, June 21, 2022 /PRNewswire/ - TUT Fitness Group Inc. (TSXV: GYM) (OTC: GYMFF) (Frankfurt: 7PG) ("TUT" or "the Company"), a Vancouver-based Canadian manufacturer of high-performance and affordable fitness products, is pleased to announce that its common shares are now trading on the OTCQB Venture Market (the "OTCQB") under the symbol "GYMFF" as of April 1, 2022, and that it has received confirmation from the Depository Trust Company ("DTC") that its common shares are now eligible for electronic clearing and settlement through DTC in the United States. The Company will continue to trade on the TSX Venture Exchange under the symbol "GYM" and on the Frankfurt Stock Exchange under the symbol "7PG".
The OTCQB Venture Market
The OTCQB Venture Market is the premier marketplace for entrepreneurial and development stage US and international companies committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
Trading on this US marketplace provides TUT's current and future US-based investors greater access to data, home country disclosure, ease of trading, and transparency.
"We are pleased to announce that we have met all requirements and have been accepted by OTC Markets to up-list from the Pink Sheet to the OTCQB tier for trading," said TUT CEO Rob Smith. "Listing on the OTCQB is another important milestone for the Company and we are confident the uplisting will bring added value to our shareholders."
DTC Eligibility
The Depository Trust Company manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.
Obtaining DTC eligibility represents the Company's commitment to increasing visibility and accessibility for all its shareholders in the United States. It enables TUT to expand its reach to a larger portion of the global investment community while providing a more efficient and seamless trading process.
Please see ourInvestor Information including our TUT Investor Presentation (June 2022) and TUT News Releases.
ABOUT TUT FITNESS GROUP:
TUT is a Vancouver-based Canadian manufacturer of high-performance and affordable fitness products. The company has designed, patented, and manufactured one of the world's smallest (11.6 lbs), and most affordable high-performance home gyms. Incorporated in 2018, TUT is an emerging player in the connected Home Gym and Fit Tech hardware space, targeting the US$10.73B Global Home Exercise Equipment Market[1] and Online Fitness Market, expected to be US$30B by 2026[2].
TUT's flagship TUT Trainer(TM) micro gym uses patented, stackable resistance band technology (TUT Plates(TM)) to replace heavy metal weights, improving form and targeting every muscle group without adding pressure to joints or tendons. With more than 250+ exercises, the multi-functional and portable gym also includes an optional TUT Rower(TM), and offers breakthrough functional strength and cardio training that raises the bar for personal home gyms.
For further information please contact:
robs@tutfitnessgroup.com
Rob Smith
CEO, TUT Fitness Group Inc.