REPEAT -- Clean Power Capital Announces Application to List its Common Shares on the NASDAQ Capital Market and Uplisting to NEO Exchange
VANCOUVER, British Columbia and TORONTO, April 19, 2021 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the
“Company” or "MOVE") is pleased to announce that it has submitted an initial application to list its common shares (the “Common Shares”) on the NASDAQ Capital
Market (“Nasdaq”). The Company previously announced on December 3, 2020 that the Board of the Company had formed a strategic committee to review and develop a strategy to enhance its investor
profile through a capital markets strategy focused on the United States. As part of the review, the strategic committee would consider an application to list its common shares on Nasdaq.
Upon consultation with advisors and legal counsel, the Company submitted its initial application to list its Common Shares on Nasdaq. This initiative is aimed to:
- provide additional opportunities to attract institutional and retail investors, allowing the Company to broaden its investor base in the United States and internationally;
- increase the visibility of the Company, its growth strategy, accomplishments and results to date;
- increase liquidity of its Common Shares; and
- raise the Company’s overall profile and ultimately enhance shareholder value.
Raghu Kilambi, the CEO of the Company, stated, "We are excited about the prospect of listing on Nasdaq. The initiative to apply for listing on Nasdaq is a major step in expanding our shareholder base in the United States and having access to one of the largest capital markets in the world."
The listing of the Company's Common Shares on Nasdaq remains subject to the review and approval of the initial listing application and the satisfaction of all applicable listing and regulatory requirements.
The Company is also pleased to announce that it will be uplisting its Common Shares to the NEO Exchange (“NEO Exchange”) effective April 26, 2021. Clean Power will continue to trade under the symbol “MOVE” after listing on the NEO Exchange. The Company has arranged for the delisting from the Canadian Securities Exchange ("CSE"), effective the close of trading on April 23, 2021. This transition is not expected to impact current investors’ ability to trade shares of Clean Power.
With the impending graduation from the CSE to the NEO Exchange, the Company is positioning its Common Shares to be traded on a senior exchange in Canada and in the United States, providing exposure to an increased number of retail and institutional investors.