Vancouver, British Columbia--(Newsfile Corp. - August 24, 2021) - Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) ("Entheon" or the "Company"), a biotechnology company focused on developing psychedelic medicines to treat addiction, 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.
The DTC is the largest securities depository in the world and facilitates electronic settlement of stock certificate transfers in the United States. The shares of the Company, trading on the OTC under the symbol "ENTBF", are now eligible to be electronically cleared and settled through the DTC and are therefore considered "DTC eligible". This electronic method of clearing securities accelerates the settlement process for investors and brokers. DTC eligibility is expected to simplify the process of trading and enhance liquidity for the Company's common shares.
"We are excited that the Company has secured DTC eligibility, providing Entheon with increased accessibility to a broader range of investors, while simplifying trading for both current and new US investors," said Timothy Ko, Chief Executive Officer of Entheon.
About Entheon Biomedical Corp.
Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products ("DMT Products") for the purposes of treating addiction and substance use disorders. Subject to obtaining all requisite regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.
About Depository Trust Company (DTC):
The Depository Trust Company (DTC) was founded in 1973 and is a New York corporation that performs the functions of a Central Securities Depository as part of the US National Market System.
For more information, please contact the Company at:
Entheon Biomedical Corp.
Joseph Cullen, Investor Relations
Telephone: +1 (778) 919-8615
For media inquiries, please contact Crystal Quast at:
Telephone: +1 (647) 529-6364
Cautionary Note on Forward-Looking Information
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Some of the specific forward-looking statements in this news release include, but are not limited to, statements with respect to: the accessibility of the Company's stock to US investors; the eligibility of shares to be electronically cleared and settled through the DTC; acceleration of the settlement process for investors and brokers; and future growth of the Company and its global investor base. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including: the Company's stock will continue to be DTC eligible and such eligibility will increase accessibility for US investors; clearing and settlement will be accelerated; and DTC eligibility will assist with US investors participating in the growth of the Company and its investor base.
Factors that could cause the actual results to differ materially from those in the forward-looking statements include: the Company ceasing to be DTC eligible; the benefits of DTC eligibility may not be realized as expected or at all; the continued availability of capital and financing; general economic, market or business conditions; changes in legislation and regulations; increase in operating costs; failure of counterparties to perform their contractual obligations; litigation; the loss of key directors, employees, advisors or consultants; and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These risks, uncertainties and assumptions could cause actual events or results to differ materially from those projected in any forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements. Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.