Australian mobile and e-Health company G Medical Innovations (ASX: GMV) has had its application to join the OTCQB market in USA accepted and the company’s shares are now tradeable under the code GMMVF.
CEO and Executive Director Dr Yacov Geva said the company’s primary listing will continue to be the Australian Securities Exchange (ASX), with shares now tradeable on the OTCQB market.
Dr Geva said the OTCQB is a US based financial market operated by the OTC Markets Group in New York. The OTCQB quality standards provide a strong platform of transparency and regulation to improve the trading experience for US investors.
He said the OTC market provides G Medical with access to individual and institutional American investors, and an entry point into one of the world’s largest capital markets, at a nominal cost with no additional compliance requirements.
Further, the listing is non-dilutive for shareholders, as no capital is required to be raised and no additional shares will be issued on the OTCQB market.
Dr Geva said that now that G Medical has the required financial flexibility to rapidly scale, the company will dedicate resources to increasing its operational and investor footprint in the US.
He said GMV’s product suite is continuing to gain traction with medical organisations and healthcare professionals and a number of opportunities are developing.
Receiving the approval to trade on the OTCQB market provides G Medical with access to the world’s largest investment market at minimal expense and no additional compliance requirements,” Dr Geva said.
“The company’s product suite is continuing to gain traction with medical organisations and healthcare professionals in the United States and this listing will allow GMV to broaden its footprint in the country.
“An active shareholder engagement program is planned in the USA to ensure out investment attractions and growth prospects are highlighted amongst new investors.”