Vancouver, British Columbia--(Newsfile Corp. - February 16, 2024) - Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092) ("Hybrid" or the "Company"), is pleased to announce that it has successfully upgraded from the OTC Pink Market to the OTCQB Venture Market. The upgrade has been approved by OTC Markets Group and the Company commenced trading on the OTCQB on January 30th, 2024.
The Company's common shares started trading on the OTCQB under the symbol "HPSIF" as of the opening of the market on January 30th, 2024. The Company's common shares will continue to trade on the Canadian Securities Exchange under the symbol "HPSS" and the Frankfurt Stock Exchange under the symbol "E092".
The OTCQB, operated by OTC Markets Group, Inc., is a market designed for developing and entrepreneurial companies in the United States and abroad. To be eligible for trading on the OTCQB, companies must be current in their financial reporting with the Securities and Exchange Commission, pass a minimum bid price test, maintain audited financials through a PCAOB registered firm, and undergo company verification and management certification on an annual basis.
The Company also announces that its common shares are eligible for electronic clearing and settlement in the United States through the Depository Trust Company ("DTC"). DTC eligibility is expected to simplify the process of trading and enhance liquidity of Hybrid's shares in the United States. The Company's shares recently began trading on the OTCQB under the symbol "HPSIF".
The DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
Francois Byrne, CEO stated, "Cross-trading onto the OTCQB Venture Market as well as Hybrid's shares being DTC eligible marks the achievement of yet another important milestone that we set out to achieve. We believe trading on the OTCQB, along with DTC eligibility will provide much greater visibility and transparency to investors which will allow for us to reach a wider audience. We greatly appreciate the support we have received from our partners and shareholders as we continue to execute on our business plan."
The Company also announces an arm's length agreement with Outside The Box Capital Inc. ("Outside The Box") (Address: 2202 Green Orchard Place. Oakville, ON I6H 4V4, Canada; email: info@outsidethebox.capital; phone: +289-259-4455) for marketing services of up to six months, which commenced December 13th, 2023.
Outside The Box will utilize their online programs with the aim of increasing investor awareness and attracting potential new investors through various online platforms and methods of engagement in consideration of CA$100,000. The promotional activity will occur by YouTube, Twitter, Facebook, and Google. Outside The Box is an arm's length service provider and does not have any prior relationship with the Company.
The Company also announces a renewal agreement with MIC Market Information & Content Publishing GmbH ("MIC") (Address: Gerhart-Hauptmann-St. 49b 51379 Leverkusen; email: contact@micpublishing.de; phone: +49 2171-7766628) for marketing services which will continue to April 15th, 2024 or until budget exhaustion. MIC will utilize their online programs with the aim of increasing investor awareness and interest in the company through various online platforms and methods of engagement in consideration of EUR 250,000. The marketing activity will occur by email, Facebook, and Google. MIC does not have any prior relationship with the Company other than previous marketing engagements and will not receive any shares of the Company as compensation.
On behalf of the company
Francois Byrne
CEO and Director
invest@hybridps.ca
1 (866) 549-2743
www.investhps.com
About Hybrid Power Solutions Inc.
Hybrid Power Solutions Inc. is a Canadian clean energy company listed on the Canadian Securities Exchange under the symbol "HPSS". Hybrid specializes in the development of sustainable energy solutions, offering products that redefine how industries approach access to power and energy storage. With a focus on innovation and environmental responsibility, HPS continues to lead the way in providing scalable, cost effective power solutions.
Forward Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the services offered under the contract and successful enhanced market conditions. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be", "intends", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by management of the Company, they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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SOURCE: Hybrid Power Solutions Inc.
