NEW YORK, March 25, 2011 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), the company that operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, today announced that Cardia Bioplastics, Ltd. (ASX: CNN; OTCQX: CDRBY), a developer and manufacturer of a range of sustainable bioplastics, has chosen to have its American Depositary Receipts (ADRs) traded on the highest tier of the OTC market, OTCQX®.
Cardia Bioplastics began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.OTCQX.com and www.OTCMarkets.com.
"Companies use OTCQX to expand their access to investors, engage them with quality disclosure of their financials, and provide trading transparency to stimulate liquidity," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Cardia Bioplastics to OTCQX."
BNY Mellon will serve as Cardia Bioplastics' Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements, and Viriathus Capital LLC will act as the Company's exclusive OTCQX advisor.
About Cardia Bioplastics, Ltd.
Cardia Bioplastics, Ltd. (ASX: CNN; OTCQX: CDRBY) trades in the United States on OTCQX under the symbol "CDRBY", where each ADR represents 500 ordinary shares. Cardia Bioplastics is a global developer, manufacturer and marketer of sustainable resins and finished products derived from renewable resources based in Australia. The Company develops, manufactures and markets a range of sustainable bioplastics to the packaging and plastics products industries. The Company's product materials are suitable for injection moulding, blow moulding, extrusion, film and coating applications. Cardia Bioplastics' product range includes biohybrid and compostable resins. The Company maintains offices in Europe and the Americas, and a network of distributors across Australia, the Americas, Europe and Asia. The Company's operations are organized along three segments: Cardia biohybrid; Cardia compostable; and Cardia bioproducts.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies), and OTC Pink (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.
SOURCE OTC Markets Group Inc.