Dec 15, 2021 (TheNewswire.ca via COMTEX) -- (via TheNewswire)
Vancouver, British Columbia - TheNewswire - December 15th, 2021 - Lexston Life Sciences Corp. (the "Company" or "Lexston") /zigman2/quotes/227714303/delayed CA:LEXT -34.62% /zigman2/quotes/229314234/composite LEXTF +67.91% is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States.
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 through DTC are considered "DTC eligible". DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company's common shares in the United States over time.
The ability to have Lexston's shares electronically cleared and settled in the United States is far more convenient and reduces the costs incurred in trading shares. With Lexston's shares now traded electronically, existing investors benefit from greater liquidity over time and execution speeds, while new investors are far less restricted from participating in Lexston's shares. The DTC is the largest securities depository in the world and facilitates electronic settlement of stock certificate transfers in the United States. This electronic method of clearing securities accelerates the settlement process for investors and brokers.
DTC eligibility compliments Lexston's recent OTCQB(R) Venture Marketplace (the "OTCQB Venture" or "OTCQB") listing approval. The OTCQB, operated by the OTC Markets Group in New York, is the premiere marketplace for early stage and developing U.S. and international companies and is recognized by the United States Securities and Exchange Commission ("SEC") as an established public market providing public information for analysis and value of securities. Lexston commenced trading on the under the symbol "LEXTF ("OTCQB") on November 12, 2021 and continues to trade on the Canadian Stock Exchange ("CSE") under the symbol "LEXT".
For more information and to subscribe to the Company's mailing list, please visit https://lexston.ca/contact/
About Lexston Life Sciences Corp.
Lexston Life Sciences Corp. is a Canadian biotechnology company providing cannabis testing and research services. Lexston is also in the process of securing licensing under the exemptions prescribed by section 56 of the Controlled Drugs and Substances Act (Canada) to enable the expansion of its services into the psychedelic industry with an initial focus on the detection and quantification of psychedelic molecules in the lab and point of care. Lexston intends to develop and validate methods for standardized manufacturing of plant derived psychedelics in support of burgeoning trials in the field of mental health and wellness.
On Behalf of the Board of Directors
LEXSTON LIFE SCIENCES CORP.
Jagdip Bal Chief Executive Officer
Telephone: (604) 928-8913
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of LEXT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.
Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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