Innovotech Inc. (TSXV: IOT), a Canadian contract research organization specializing in biofilm science and antimicrobial testing, announced its intention to apply for a stock quotation on the OTCQB Venture Market, an over-the-counter market operated by OTC Markets Group. The move aims to enhance the company's visibility among U.S. investors and improve liquidity for its common shares.
According to the company, the OTCQB quotation will operate in parallel with its primary listing on the TSX Venture Exchange and is not expected to impose additional material compliance or reporting requirements. As a foreign private issuer, Innovotech will continue to meet its existing disclosure obligations on SEDAR+, which satisfy OTC market requirements under established exemptions for foreign issuers. To qualify for the OTCQB, companies must meet certain financial standards, remain current in reporting, and undergo annual verification and management certification.
In conjunction with the listing, Innovotech will also apply for eligibility with the Depository Trust Company (DTC), which would enable simplified electronic clearing and settlement of its shares for U.S. investors. This step is expected to reduce barriers for U.S. retail and institutional investors seeking to trade the company's stock.
The announcement comes as Innovotech seeks to broaden its investor base beyond Canada. The company noted that a U.S. quotation could increase accessibility for American investors who may find it easier to trade on OTC markets than on the TSX Venture Exchange. Increased liquidity and visibility could also support the company's growth initiatives and strategic partnerships.
Innovotech is a boutique contract research organization that provides advanced laboratory services and commercializes proprietary technologies, including its MBEC Assay kit for high-throughput antimicrobial testing. The company serves clients across multiple sectors, including pharmaceuticals, medical devices, and industrial applications, with ISO-certified and GMP-accredited laboratories.
The company cautioned that forward-looking statements in the announcement involve risks and uncertainties, including regulatory outcomes, currency fluctuations, reliance on a small number of customers, and intellectual property protection. Innovotech undertakes no obligation to update these statements except as required by law.
The TSX Venture Exchange and its Regulation Services Provider accept no responsibility for the adequacy or accuracy of this release. The original announcement was distributed by NewMediaWire.
