OTTAWA, April 6, 2021 – C-COM Satellite Systems Inc., (TSXV: CMI, OTCQB: CYSNF) the world’s leading provider of commercial grade mobile auto-deploying satellite antenna systems, is pleased to announce today that on April 6, 2021, the Company’s common shares began trading on the OTCQB Venture Market under the symbol “CYSNF”. The Company shares continue to trade on the Toronto Venture Stock Exchange (TSXV) under the symbol “CMI”.
Trading on the OTCQB is expected to make the Company accessible to a broader range of U.S. investors and should increase liquidity and visibility in the United States. U.S. investors can find current financial disclosure and real-time level 2 quotes for the Company on the OTC Markets website at https://www.otcmarkets.com/stock/CYSNF/overview.
To be eligible for approval to trade on the OTCQB, companies must be current on disclosure obligations, to pass a minimum bid price test and undergo an annual company verification and management certification process. The OTCQB also provides timely news and disclosure to investors. and may provide access for investors who cannot access trading on the TSXV.
“Trading on the OTCQB is an extension to our capital markets strategy and an important step to increase investor awareness in the Company. As we progress with the development of our new antenna technology, U.S. investor interest has been increasing. We want these investors to be able to trade the Company shares with as much ease as possible,” said Leslie Klein, President and CEO of C-COM Satellite Systems Inc.
“C-COM is in late-stage development of Ka-band, electronically steerable, modular, conformal, flat panel phased array satellite antenna. In cooperation with the University of Waterloo, C-COM is engaged in the design of this unique antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals. There is an increased interest in this technology by U.S. investors. We believe that by trading on the OTCQB exchange, U.S. investors will benefit from having seamless access to the C-COM stock,” he added.
About C-COM Satellite Systems Inc.
C-COM Satellite Systems Inc. is an innovator and one of the first to design, develop and manufacture transportable communications on the pause satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.
C-COM has sold more than 8,500 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil & Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company’s iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness. For additional information please visit www.c- comsat.com.
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) and is also traded on the OTCQB Venture Market (OTCQB: CYSNF).
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Forward Looking Statements
This news release contains forward-looking statements. These statements relate to future events or future performance and reflect management’s current expectations and assumptions.
Statements about C-COM’s expectations as to the accessibility and benefits to U.S. investors resulting from trading on the OTCQB, increased liquidity and investor awareness, and its intentions with respect to its Ka-band antenna version all contain forward-looking statements. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Anticipated benefits of trading on the OTCQB may not be realized. Continued trading on the OTCQB is dependant on C-COM’s ability to meet the OTCQB’s ongoing requirements. Anticipated benefits from new technology under development may not be realized, and new products and services may not be released or, if released may not gain market acceptance. Any of those events and others could have an effect on future performance and C-COM Satellite Systems Inc.’s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM Satellite Systems Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the risk factors associated with the business of C-COM Satellite Systems in the company’s most recent MD&A available at www.SEDAR.com.