Franchise Holdings International (FNHI) announces another significant milestone: uplisting to OTC:QB Market from OTC Pink She...
August 27 2018 - 10:18AM
With transition from OTC Pink Sheets, FNHI can
become Canadian reporting issuer
Will also look to further requirements for
uplisting to OTC:QX
Toronto, Ontario, Canada, Aug. 27, 2018 (GLOBE NEWSWIRE) --
Franchise Holdings International, Inc. (OTCQB: FNHI), the parent
company of Worksport LTD Inc., announced today that its stock has
commenced trading on the OTC:QB Market. It has successfully
uplisted from the OTC Pink Sheets. FNHI’s move from the OTC Pink
Sheets to the OTC:QB is a significant milestone. The Ontario
Securities Commission requires this status before FNHI can again
become a Canadian reporting issuer. It can now submit a
non-offering prospectus with the OSC, as the last step to achieve a
dual-listing. Worksport is an innovative manufacturer of high
quality, functional, and aggressively priced tonneau/truck bed
covers for the light truck market.
“Our transition from the OTC Pink Sheets to the OTC:QB listing
provides better access to institutional investors. It also offers a
broader shareholder base through the listing’s credibility and
transparency,” said FNHI CEO Steven Rossi. “In the short-to-medium
term, as the company progresses, we will look at further uplisting
requirements. We hope to soon be on the OTC:QX.”
Uplisting from OTC Pink Sheets is second FNHI
August milestone – 10Q filed last week
The uplisting from the OTC Pink Sheets is FNHI’s second
milestone in August. It comes directly after filing a 10Q form to
the United States Securities and Exchange Commission (SEC). The SEC
recognizes the OTC:QB as a leading market for companies like FNHI
in the entrepreneurial and development stage. To be eligible,
companies must be current in their financial reporting. They must
also pass a minimum bid price test, and undergo an annual
verification and certification process. FNHI and its Worksport
subsidiary have met these requirements, Rossi said.
Leaving OTC Pink Sheets and applying for OTC
listing fulfills FNHI growth mandate
Rossi said FNHI is now a “current in its filings” and a “newer,
better” more disciplined organization. “Worksport’s innovative
tonneau cover brand is poised for major growth and increases in
revenue and earnings. Leaving the OTC Pink Sheets and applying to
the OSC for a revived listing will also facilitate our ambitious
growth mandate,“ Rossi added. The listing will occur with the
assistance of Gunpowder Capital (CSE: GPC). It will unlock
an estimated $450,000 in Gunpowder funding as announced in the last
press release: Stock Market Today.
As a result, FNHI expects to be a $10 million
company expecting profit at $1.5 million in sales, Rossi said.
Forward-Looking Statements
This document may contain forward-looking statements, relating to
Franchise Holdings International Inc. operations or to the
environment in which it operates, which are based on Franchise
Holdings International Inc. operations, estimates, forecasts and
projections. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult
to predict, and/or are beyond Franchise Holdings Internationals
Inc.’s control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
these forward-looking statements. Consequently, readers should not
place any undue reliance on such forward-looking statements.
Franchise Holdings International Inc. disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
About Franchise Holdings
International
Please visit our website to read more about Franchise Holdings
International, our revenue growth and our
future expectations:
https://www.FranchiseHoldingsInternational.com
Feel free to get in touch with our management team
using our contact page:
https://FranchiseHoldingsInternational.com/contact-us/
For more information, contact:
Franchise Holdings International
investors@franchiseholdingsinternational.com
https://franchiseholdingsinternational.com/
1-888-554-8789