AirBoss Announces Commencement of Trading on OTCQX® Best Market in the United States
June 21 2021 - 6:30AM
AirBoss of America Corp. (TSX: BOS, OTCQX:ABSSF) (the "Company" or
"AirBoss") is pleased to announce that its common shares (the
"Shares") are now qualified for trading under the ticker symbol
ABSSF on the OTCQX® Best Market (the "OTCQX"), a United States
trading platform that is operated by the OTC Markets Group Inc. in
New York.
"Our decision to cross-trade in the U.S. is part
of our strategy to expand our international shareholder base,
increase trading liquidity and facilitate greater access and
trading capability in our Shares for both institutional and retail
investors," stated Gren Schoch, Chairman and CEO of AirBoss. “It is
also in response to increased interest from U.S. and international
investors in AirBoss and reflective of the composition of our
business: approximately 90% of our sales in 2020 were from the U.S.
and international markets and our reporting currency is USD.”
The OTCQX is recognized by the U.S. Securities
and Exchange Commission as an established public market providing
public information for analysis and value of securities. As a
verified market with efficient access for U.S. investors, OTCQX
helps companies build shareholder value with a goal of enhancing
liquidity and achieving a fair valuation. OTCQX Market is an
important step for companies seeking to provide transparent trading
for their U.S. investors. For companies listed on a qualified
international exchange, streamlined market standards enable them to
utilize their home market reporting to make their information
available in the U.S. To qualify for OTCQX, companies must meet
high financial standards, follow best practice corporate governance
and demonstrate compliance with applicable securities laws.
The Company's Shares will continue to trade on
the TSX under the symbol "BOS" and will trade on the OTCQX® under
the symbol “ABSSF”.
About OTC Markets Group
Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates
the OTCQX® Best Market, the OTCQB® Venture Market and the Pink®
Open Market for 11,000 U.S. and global securities. Through OTC
Link® ATS and OTC Link ECN, the company connects a diverse network
of broker-dealers that provide liquidity and execution services.
The company enables investors to easily trade through the broker of
their choice and empower companies to improve the quality of
information available for investors. To learn more about how OTC
Markets Group Inc. creates better informed and more efficient
markets, visit www.otcmarkets.com.
About AirBoss
AirBoss of America is a leading and diversified
developer, manufacturer and provider of innovative survivability
solutions, advanced custom rubber compounds and finished rubber
products that are designed to outperform in the most challenging
environments. Founded in 1989, the company operates through three
divisions. AirBoss Defense Group is a global leader in personal and
respiratory protective equipment and technology for the defense,
healthcare, medical and first responder communities. AirBoss Rubber
Solutions is a top-tier North American custom rubber compounder
with 500 million turn pounds of annual capacity. AirBoss Engineered
Products is a supplier of innovative anti-vibration solutions to
the North American automotive market and other sectors. The
Company’s shares trade on the TSX under the symbol BOS and the
OTCQX under the symbol ABSSF. Visit www.airboss.com for more
information.
Investor Contact: Chris Bitsakakis, President, Gren Schoch,
Chairman and CEO at 905-751-1188
Media Contact: media@airboss.com
AIRBOSS FORWARD LOOKING INFORMATION DISCLAIMER.
Certain statements contained or incorporated by
reference herein, including those that express management’s
expectations or estimates of future developments or AirBoss’ future
performance, constitute “forward-looking information” or
“forward-looking statements” within the meaning of applicable
securities laws, and can generally be identified by words such as
“will”, “may”, “could” “expects”, “believes”, “anticipates”,
“forecasts”, “plans”, “intends” or similar expressions. These
statements are not historical facts but instead represent
management’s expectations, estimates and projections regarding
future events and performance.
Statements containing forward-looking
information are necessarily based upon a number of opinions,
estimates and assumptions that, while considered reasonable by
management at the time the statements are made, are inherently
subject to significant business, economic and competitive risks,
uncertainties and contingencies. AirBoss cautions that such
forward-looking information involves known and unknown
contingencies, uncertainties and other risks that may cause
AirBoss’ actual financial results, performance or achievements to
be materially different from its estimated future results,
performance or achievements expressed or implied by the
forward-looking information. Numerous factors could cause actual
results to differ materially from those in the forward-looking
information, including without limitation: impact of general
economic conditions notably including its impact on demand for
rubber solutions and products; dependence on key customers; global
defense budgets, notably in the Company’s target markets, and
success of the Company in obtaining new or extended defense
contracts; cyclical trends in the tire and automotive,
construction, mining and retail industries; sufficient availability
of raw materials at economical costs; weather conditions affecting
raw materials, production and sales; AirBoss’ ability to maintain
existing customers or develop new customers in light of increased
competition; AirBoss’ ability to successfully integrate
acquisitions of other businesses and/or companies or to realize on
the anticipated benefits thereof; changes in accounting policies
and methods, including uncertainties associated with critical
accounting assumptions and estimates; changes in the value of the
Canadian dollar relative to the US dollar; changes in tax laws and
potential litigation; ability to obtain financing on acceptable
terms; environmental damage and non-compliance with environmental
laws and regulations; impact of global health situations; potential
product liability and warranty claims and equipment malfunction.
COVID-19 could also negatively impact the Company’s operations and
financial results in future periods. There is increased uncertainty
associated with future operating assumptions and expectations as
compared to prior periods. As such, it is not possible to estimate
the impacts COVID-19 will have on the Company’s financial position
or results of operations in future periods. While the direct
impacts of COVID-19 are not determinable at this time, the Company
has a credit facility that can provide financing up to
US$150,000,000. This list is not exhaustive of the factors that may
affect any of AirBoss’ forward-looking information. All of the
forward-looking information in this press release is expressly
qualified by these cautionary statements. Investors are cautioned
not to put undue reliance on forward-looking information.
All subsequent written and oral forward-looking information
attributable to AirBoss or persons acting on its behalf are
expressly qualified in their entirety by this notice.
Forward-looking information contained herein is made as of the date
of this press release and, whether as a result of new information,
future events or otherwise, AirBoss disclaims any intent or
obligation to update publicly this forward-looking information
except as required by applicable laws. Risks and uncertainties
about AirBoss’ business are more fully discussed under the heading
“Risk Factors” in our most recent Annual Information Form and are
otherwise disclosed in our filings with securities regulatory
authorities which are available on SEDAR at www.sedar.com.
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