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VANCOUVER, British Columbia, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Levitee Labs Inc. (the "Company" or "Levitee Labs”) (CSE: LVT) (OTCPK: LVTTF), an integrative wellness company with a diversified portfolio of healthcare and wellness assets, is pleased to announce that it’s common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”) in the United States (USA).
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 though DTC are considered "DTC eligible". With an accelerated settlement period and reduced costs for investors and brokers, DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company's shares in the United States.
Levitee Labs Inc’s common shares have been made eligible for book-entry delivery and depository services of the Depository trust Company to facility electronic settlement of transfers of its common shares in the United States. DTC eligibility will simplify the process of trading and is expected to enhance the liquidity of the Company’s common shares on the OTC Markets where Levitee Labs trades under the symbol “LVTTF”.
The company’s shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol “LVT”.
Founder and CEO Pouya Farmand states, “We are pleased to have obtained our DTC eligibility. This eligibility will simplify the process of trading shares in the USA, which will be beneficial to Levitee and our shareholders. With DTC eligibility, the increased accessibility and visibility is expected to attract greater investment and trading liquidity from American investors as our shares will be available to a broader range of investors as we continue to expand our business.”
About Levitee Labs Inc.
Levitee Labs is establishing itself as a leader in the integrative wellness space. Through leveraging an M&A regimen that focuses on the centralization of complementary integrative wellness assets, Levitee Labs aims to transform mental health and addiction treatments through the integration of psychedelic medicines and therapies. The company’s current portfolio of assets includes: ACT Medical Centres, a group of five addiction and pain treatment clinics in Alberta; Block MD, the first technology company in Alberta to receive provincial approval for electronic -prescriptions in the addiction treatment space; three pharmacies operating in Alberta specialized in filling prescriptions for patients with substance use disorders, mental health conditions, and chronic pain; Earth Circle Organics, a direct-to-consumer and wholesaler of supplements and superfood products with 180+ SKUs in its product lineup across three brands and MONKE Nutraceuticals, a company specialized in developing and distributing premium functional mushroom supplements sold via online portals as well as brick and mortar retailers. Further information about Levitee Labs is available on its website at leviteelabs.com.
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance, or achievements that Levitee Labs anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements respecting trading liquidity and business expansion. Levitee Labs’ business plans and proposed products, and the benefits derived from mushroom-infused products. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. These statements and other forward-looking information are based on assumptions made by Levitee Labs based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release as well as management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. These assumptions may also be based on information obtained from third-party industry analysts and other third-party sources. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Levitee Labs as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: Levitee Labs’ limited history of operations; ability to secure additional financing; negative cash flow from operating activities since inception; regulatory requirements; changes in consumer preferences; supply of raw materials; reliance on a limited number of products; brand awareness; the ability to develop, market and produce new products; dependence on certain key senior managers; reliance on third parties for manufacturing and packaging; potential product liability claims and product recalls; and significant competition. For additional information regarding these risks, please see the risk factors identified and reported in Levitee Labs’ public filings under its SEDAR profile at www.sedar.com. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date of this news release, and Levitee Labs assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws. The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release and accepts no responsibility for the adequacy or accuracy hereof.
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