EV Technology Group Announces DTC Eligibility of Its Common Shares
TORONTO, July 05, 2022 (GLOBE NEWSWIRE) -- EV Technology Group Ltd. (the “Company” or “EV Technology Group”) (NEO: EVTG, DE: B96A) is pleased to announce that the Company’s common shares (the “Common Shares”) are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”).
EV Technology Group is a global end-to-end electric vehicle company focused on electrifying iconic driving experiences. EV Technology Group helps iconic brands leverage their existing brand equity and followership by bringing their vehicles to the electric age, such as MOKE International Limited (“MIL”). The Company is currently listed on Canada’s NEO Exchange (NEO: EVTG) and the Frankfurt Stock Exchange (DE: B96A), and has now been approved to offer United States-based public market investors the opportunity to clear and settle trades of Common Shares through the DTC.
DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Common Shares in the United States by accelerating the settlement period for transfers and reducing costs for investors.
With DTC eligibility, existing investors benefit from potentially greater liquidity and execution speeds. This also opens the door to new investors that may have been previously restricted from trading the Common Shares and simplifies the process of trading the Common Shares in the United States.
EV Technology Group
EV Technology Group was founded in 2021 with the vision to electrify iconic brands - and the mission of redefining the joy of motoring for the electric age. By acquiring iconic brands and bringing beloved motoring experiences to the electric age, EV Technology Group is driving the EV revolution forward. Backed by a diversified team of passionate entrepreneurs, engineers and driving enthusiasts, EV Technology Group creates value for its customers by owning the total customer experience — acquiring and partnering with iconic brands with significant growth potential in unique markets, and controlling end-to-end capabilities. To learn more visit: https://evtgroup.com/
EV Technology Group
CEO and Chairman of the Board
This news release contains forward-looking statements including, but not limited to, liquidity of and execution speeds for the Common Shares as a result of DTC eligibility, and EV Technology Group operations, expectations, and future actions. Often, but not always, these Forward-looking Statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements, including those factors discussed under “Risk Factors” in the 2021 Annual Information Form of the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except where required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
THE NEO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE