CALGARY, AB, May 27, 2022 /CNW/ - Comprehensive Healthcare Systems Inc., an industry leader in healthcare benefits administration software and services, has the approval to begin trading its common shares on the OTC Markets Groups OTCQB Venture Market in the United States under the symbol CMHSF. The company's common shares will start trading on the OTCQB on May 27, 2022, and will continue to trade on its primary listing on the TSX Venture Exchange under the symbol TSXV-CHS.
Comprehensive Healthcare shares are also DTC services eligible for electronic clearing and settlement through the Depository Trust Company in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. company that manages publicly traded companies' electronic clearing and settlement. Securities that are eligible to be electronically cleared and settled through DTC are considered "DTC eligible." DTC eligibility is expected to simplify the process of trading and enhance the liquidity of the company's common shares in the United States.
With DTC eligibility, existing investors benefit from potentially greater liquidity and execution speeds. This also opens the door to new investors that may have been previously restricted from the company's common shares and simplifies trading its common shares in the United States.
Christopher Cosgrove, Chief Executive Officer of Comprehensive Healthcare Systems, commented: "We are pleased to hit this new corporate milestone, as part of a broader corporate strategy, for the company's shares to be traded in both Canada and the United States, and to now be formally approved to be trading on the OTCQB. This will allow the company to attract a much broader base of American and international investors. Trading on the OTCQB will expand the company's existing presence, to new and its existing shareholder base in the United States, with proven electronic transparent trading platforms."
The OTCQB is recognized as a trusted, established financial market distinguished by the integrity of its operations for US and international companies that wish to trade in the United States. The OTCQB Venture Market offers companies the opportunity to build their visibility, expand much-needed liquidity and diversify their shareholder base on an established and regulated public market. To qualify for trading on this market, companies must meet a higher financial standard, follow best practice corporate governance and leadership, and demonstrate adherence with Canadian and U.S. Securities laws combined with having a professional third-party sponsor introduction.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Telehealth and Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company's state of the art HPS Novus Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including insurance companies, hospitals, doctors, and labor unions, through a various corporation in which the majority shareholder has controlling ownership), providing healthcare administrative software, licensing and maintenance services.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Comprehensive Healthcare Systems Inc.
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