Mentor Capital Shares Accepted for DTC FAST Program for DWAC and DRS Handling
March 30 2015 - 1:00PM
Business Wire
Cannabis M&A Leader Continues Steps Toward Larger
Exchange Listing
Mentor Capital, Inc. (OTCQB: MNTR) reports its application to
the Depository Trust Company to qualify Mentor shares for
accelerated processing through the DTC Fast Automated Securities
Transfer system has been approved. Because the DTC is strictly
regulated by the SEC, Treasury and Federal Reserve, Mentor Capital
followed DTC guidelines in preparing for FAST acceptance by (i)
becoming fully reporting without missing or late reports, (ii)
having no name changes, officer changes or stock splits within the
last 3 to 5 years, (iii) ensured the company and officers were not
involved in fraudulent activities such as pump and dump schemes or
as may be evidenced in lawsuits, (iv) avoided Regulation 504D
issuances or other unregistered resales, (v) avoided Pink Sheet
“Halt” or “Yield” statuses, and (vi) grew the company to ensure it
was not too small or the financials were not large enough.
Working under the DTC FAST system Mentor Capital shareholders
receive the benefits of being able to utilize the Direct
Registration System (DRS) and the Deposit/Withdraw At Custodian
(DWAC) processes to transfer their shares electronically. The DRS
system is entirely paperless and the shares are held on the books
of Mentor Capital’s FAST authorized transfer agent, American Stock
Transfer, without the need of an original physical certificate to
evidence security ownership. Later, the shareholder’s security
positions may be moved electronically between street name ownership
and direct registration book entry position.
The DWAC process is similar to DRS, but starts with a physical
certificate that requires certification through a Medallion
Signature Guarantee from a bank, credit union or stock broker, so
that the signatures may be immediately accepted for processing by
any transfer agent. Once accepted and electronically recorded on
the Company stock ledger, the shareholder may authorize his broker
to request the shares be moved electronically into the
shareholder’s brokerage account.
Mentor Capital, Inc. CEO Chet Billingsley notes, “Working
through the DTC FAST system and utilizing the DRS and DWAC
processes greatly reduces the costs and time required for our
shareholders to deposit or replace shares, and moves us another
step forward along the path toward a major exchange listing.”
About Mentor Capital: The company seeks to take
significant positions in medical marijuana and cannabis companies
to provide public market liquidity for founders, protection for
investors and to incubate private cannabis companies that have the
potential to be spun off as stand-alone pubic companies. Additional
important information for investors is presented at:
www.MentorCapital.com.
This press release is neither an offer to sell, nor a
solicitation of offers to purchase, securities.
Forward-Looking Statements: This press release contains
forward-looking statements within the meaning of the federal
securities laws, including statements concerning financial
projections, financing activities, corporate combinations, product
development activities and sales and licensing activities. Such
forward-looking statements are not guarantees of future results or
performance, are sometimes identified by words of condition such as
“should,” “could,” “expects,” “may,” “intends,” “seeks,” “looks,”
“moves,” or “plans” and are subject to a number of risks and
uncertainties, known and unknown, that could cause actual results
to differ materially from those intended or anticipated. Such risks
include, without limitation: nonperformance of investments, partner
and portfolio difficulties, potential delays in marketing and
sales, problems securing the necessary financing to continue
operations, problems involving continued illegality of cannabis
products, potential of competitive products, services, and
technologies, difficulties experienced in product development, in
recruiting knowledgeable personnel and in protecting intellectual
property. Further information concerning these and other risks is
included in the Company’s Form 10 filing which, along with other
very important information about the Company, can be found
here:
http://mentorcapital.com/disclosures/
The Company undertakes no obligation to update or revise such
forward-looking statements to reflect new information, events or
circumstances occurring after the date of this press release.
Mentor Capital, Inc.Chet Billingsley, CEO(760) 788-4700
Mentor Capital (QB) (USOTC:MNTR)
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