Legible Inc. (CSE: READ) (FSE: D0T) (OTCQB: LEBGF) ("Legible” or the “Company”) is delighted to announce that it has qualified to trade on the OTCQB Venture Market (“OTCQB”). Legible’s common shares will begin trading on the OTCQB effective today under the ticker symbol LEBGF.
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The Company’s common shares will continue to trade on the Canadian Securities Exchange (“CSE”) under the symbol “READ” and the Frankfurt Stock Exchange (“FSE”) under the symbol “D0T”. Furthermore, as announced on January 10, 2023, Legible’s shares are DTC eligible for electronic clearing and settlement with the Depository Trust Company (“DTC”) for trading in the U.S.
“We are delighted to begin trading on the OTCQB. This an important milestone for Legible, which will help increase our visibility and accessibility to a broader audience of U.S. investors and brokers and build awareness with industry analysts as we advance our unique eReading and audiobook offerings,” said Kaleeg Hainsworth, Legible’s CEO. “We would like to thank the team at B. Riley Securities, headed by Ms. Becky Popoff, who provided us with excellent advisory services and acted as our OTCQB Sponsor.”
The OTCQB is a U.S.-based transparent trading platform operated by the OTC Markets Group in New York and is the premier marketplace for entrepreneurial and development stage U.S. and international companies committed to providing a high-quality trading and information experience for U.S. investors. To be eligible, companies must be up to date in their SEDAR financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process.
As a verified market with efficient access to U.S. investors, the OTCQB helps Canadian companies build shareholder value to improve liquidity and achieve fair valuation. As a result, more Canadian companies are traded on OTC Markets than the New York Stock Exchange and Nasdaq combined. The key benefits of trading on the OTCQB include efficient market standards, transparency, visibility, and robust technology.
Hainsworth added, “Legible’s management team is exploring ways to establish new partnerships in the US, similar to our large-scale regional transit authority partnership with Go Transit in Ontario's Greater Toronto Area, that will make eReading more widely accessible to U.S. customers and investors, and enhance awareness for the Legible brand.”
About Legible Inc.
Legible Inc. is a book entertainment and media company with a mission: millions of books for billions of readers, globally. Legible provides innovative eReading experiences to anyone anywhere with an internet-enabled device. Legible has developed two high-value verticals: a browser-based, mobile-first B2C eBook entertainment platform delivering a global online bookstore and reading system for the emerging web with high-growth potential called Legible.com; and a global B2B eBook conversion and production service with high revenue potential called Legible Publishing. Founded and led by a team of technologists, authors, eBook publishers, designers, and publishing industry insiders, Legible is transforming the digital publishing industry and gaining market share through innovative, 21st century publishing and global reading experiences. Legible embraces core values of sustainability, accessibility, and global literacy.
Visit Legible.com and discover the place where eBooks come to life.
Cautionary Note Regarding Forward Looking Information
This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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