TORONTO, May 6, 2019 /CNW/ - Converge Technology Solutions
Corp. ("Converge" or "the Company") (TSXV: CTS)
(FSE: 0ZB) (OTCQX: CTSDF) is pleased to announce that its common
shares are now trading on the OTCQX Best Market under the ticker
symbol of CTSDF. The OTCQX Best Market is the highest market tier
of OTC Markets on which 10,000 U.S. and global securities trade.
Trading on OTCQX will enhance the visibility and accessibility of
the Company to U.S. investors. Converge's common shares will
continue to trade on the TSX Venture Exchange under the symbol CTS,
and on the Frankfurt Stock Exchange under the symbol 0ZB.
The OTCQX Best Market provides value and convenience to U.S.
investors, brokers and institutions seeking to trade CTSDF. The
OTCQX Best Market is OTC Markets Group's premier market for
established, investor-focused U.S. and international
companies. To be eligible, companies must meet high financial
standards, follow best practice corporate governance, demonstrate
compliance with U.S. securities laws, be current in their
disclosure, and have a professional third-party sponsor
introduction.
Converge is in the process of securing Depository Trust Company
("DTC") eligibility for its common shares. DTC manages
electronic clearing and settlement of publicly traded companies
across the United States and in
131 other countries. Trading through DTC allows for
cost-effective clearing and guaranteed settlement, simplifying and
accelerating the settlement process of daily trades. U.S.
investors can find current financial disclosure and Real-Time Level
2 quotes for the company
on www.otcmarkets.com/stock/CTSDF/quote.
"We are pleased to reach the milestone of trading on OTCQX, as
this will make it easier for our U.S. employees and investors to
invest in Converge by reducing the requirement of having a Canadian
trading account," confirmed Shaun
Maine, the CEO of Converge. "Additionally, the timing is
favourable to allow the commencement of our employee stock purchase
program that Converge Shareholders will be voting on at our Annual
General Meeting on Thursday, May
9th."
Converge also announces that it has retained Mackie Research
Capital Corporation ("MRCC") to provide market making services to
the Company in compliance with the policies and guidelines of the
TSX Venture Exchange and other applicable legislation. Under the
terms of the agreement, MRCC will receive $4,000 per month. There are no performance
factors contained in the agreement and MRCC will not receive shares
or options as compensation.
Additionally, Converge has retained First Canadian Capital Corp.
("FCC") to provide consulting services consisting of investor
relations and corporate communications. Under the terms of
the agreement, the Company will pay FCC a monthly retainer fee of
$10,000 for professional
services.
About Converge Technology Solutions
Converge
Technology Solutions building a platform of regionally focused
Hybrid IT solution providers that deliver best-of-breed solutions
and services to clients. These capabilities are enhanced by
advanced expertise in cloud solutions, artificial intelligence,
blockchain, resiliency, and managed services, enabling Converge to
address the business and IT challenges that public and
private-sector organizations face today. To learn more about
Converge, visit www.convergetp.com
SOURCE Converge Technology Solutions Corp.