VANCOUVER, BC, Nov. 4, 2021 /PRNewswire/ - TUT Fitness Group Inc. (TSXV: GYM) (FSE: 7PG) ("TUT" or the "Company"), a fitness technology micro-gym manufacturer, is pleased to announce that the Company's shares have been accepted for listing and have commenced trading on the Frankfurt Stock Exchange ("FSE") under the symbol "7PG".
The Company's common shares are now cross-listed on the TSX Venture Exchange and the FSE. The FSE is one of the world's leading international stock exchanges by revenue, profitability, and market capitalization and is the largest of Germany's stock exchanges.
"Our listing on the Frankfurt Stock Exchange is an exciting milestone for the Company. There is significant demand from European investors for fit-tech stories like ours, and we are pleased that it will now be easier for those investors to participate in our growth, particularly as we ramp up our global sales strategy," said Robert Smith, CEO of TUT.
The Company is also applying to have its common shares posted for trading on the OTCQB Venture Market, a United States trading platform that is operated by the OTC Markets Group in New York. The posting of the Company's shares on the OTCQB remains subject to having a Form 211 cleared by FINRA, satisfying OTCQB eligibility standards, and the approval of the OTCQB Markets Group. The Company believes that trading on the OTCQB will increase its visibility within the U.S. capital markets and will provide further information once its common shares commence trading on the OTCQB.
The OTCQB market is a premier marketplace for early-stage and developing companies that are committed to providing a high-quality trading and information experience for U.S. investors. Investors can find real-time level 2 quotes and market information for OTCQB-listed companies on the OTC Markets website.
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ABOUT TUT FITNESS GROUP INC.:
TUT is a Vancouver-based Canadian manufacturer of high-performance 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$10.7B Global Home Exercise Equipment Market1 and Online Fitness Market, expected to be US$30B by 20262.
TUT's patented, industry-first, stackable resistance bands (TUT Plates™) allow the user to increase or decrease resistance loads with up to 200 lbs of resistance. Utilized in both the TUT Trainer™ Tower and TUT Rower™, this new breakthrough in functional strength and cardio training incorporates Time Under Tension to target every muscle group without the added pressure to joints or tendons, optimizing workouts, and raising the bar for personal home gyms.
ON BEHALF OF THE BOARD OF DIRECTORS:
Robert Smith
Director and CEO
robs@tutfitnessgroup.com
Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include the outcomes and expectations from the listing of the common shares on the FSE, the application to list the common shares on the OTCQB and the expected outcomes, TUT Fitness Group licensing its technology, expectations and outcomes from the TUT Fitness Group's patented technology, development of technologies, customer demand for TUT Fitness Group's products, the updates to TUT products, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, security threats, and dependence on key personnel and including those other risks filed under the Company's profile on SEDAR at www.sedar.com. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment and technology failures, litigation, increase in operating costs, the impact of COVID-19 or other viruses and diseases on the Company's ability to operate, competition, lack of demand of the products and services, failure of counterparties to perform their contractual obligations, exchange rate fluctuations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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SOURCE TUT Fitness Group Limited
