NEW YORK, March 12, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Cortex Business Solutions Inc. (TSX-V: CBX; OTCQX: CTPNF), a Canada-based enterprise eProcurement solutions company, has been approved to trade on OTCQX®, the best marketplace with qualified companies.
Cortex begins trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange and provide their home country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Cortex to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "By trading on OTCQX, Cortex assures its U.S. investors will have transparent trading and convenient access to its news and financial disclosure, making it easier to analyze, value and trade Cortex shares. We look forward to working with Cortex's management team as they continue to expand the company's visibility with U.S. investors."
"Joining the OTCQX will bring a greater awareness of Cortex's story to the investment community throughout the U.S. and abroad," said Art Smith, President and CEO of Cortex. "Given the continued expansion of the Cortex Trading Partner Network and robust activity in the marketplace, both in terms of transaction volume and the onboarding of new customers, our decision to list on this U.S. marketplace comes at a very opportune time. Using this momentum, we look forward to further conveying our story to analysts and investors and, ultimately, enhancing shareholder value."
Craig-Hallum Capital Group LLC serves as Cortex's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Cortex Business Solutions is an enterprise eProcurement solutions company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers. The Cortex Trading Partner Network enhances the exchange of business critical documents, such as purchase orders, receipts and invoices, resulting in improved cash flow management and business controls while reducing days outstanding and administrative costs.
Cortex is a low cost, low risk cloud-based solution that can be implemented quickly by leveraging its customers' existing business environment.
Cortex will trade in the U.S. on OTCQX under the symbol "CTPNF."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace with Qualified Companies; OTCQB®, The Venture Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The Open Marketplace with Variable Reporting Companies. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
SOURCE OTC Markets Group Inc.