In a news release, Vancouver-based online entertainment and gambling solutions technology company FansUnite Entertainment Inc. (FANS:CSE; FUNFF:OTC) announced that "it has received approval from the Depository Trust Company (DTC) to make their shares eligible on the OTC and allowing United States investors to clear their trades seamlessly under the ticker FUNFF."
The firm indicated that its shares will also continue to trade under the symbol "FANS" on the Canadian Securities Exchange.
The company's Co-Founder, CEO and Chairman Darius Eghdami commented, "Obtaining DTC eligibility simplifies the trading process for both investors and brokerage firms in the United States and demonstrates our commitment to reaching new investors in large markets...As our industry experiences significant growth globally, we believe attracting U.S. investors is necessary to enhance liquidity and deepen our visibility on a global scale."
The firm noted that DTC is a subsidiary of the Depository Trust and Clearing Corporation which manages electronic clearing and settlement of transactions of publicly traded companies. The company pointed out that its securities can now be electronically cleared and settled which will provide for enhanced liquidity, improve and streamline trading and offer direct and greater access to U.S. investors.[NLINSERT]
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with FansUnite. Please click here for more information. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of FansUnite, a company mentioned in this article.