VANCOUVER, BC / ACCESSWIRE / November 14, 2017 / FanDom Sports Media Corp. (CNSX: FDM) (OTCQB: FDMSF) (FSE: TQ42) ("FanDom Sports" or the "Company") announced today that the Company's common shares have been granted DTC eligibility status, thus approved for DTC electronic settlement and transfer of its common shares in the United States under the OTC symbol FDMSF by the Depository Trust Company (DTC), subsidiary of the Depository Trust & Clearing Corporation (DTCC).
This approval opens FanDom Sports up to the most important and influential investment market, as DTC is the world's largest post-trade financial services company. They provide electronic clearance, settlement, and information services for the vast majority of equities and other securities in the U.S.
Trading of securities through DTC allows for cost-effective clearing and guaranteed settlement. Securities that are not DTC-eligible are often not accepted for trading at many brokerages due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to easily access the shares.
"This is an important milestone for the Company and we are pleased to have obtained DTC eligibility," CEO Henri Holm commented. "Being DTC eligible will make it easier for brokerage firms to trade our stock for their clients. We expect that our DTC eligible status will also provide our American investors with timely news to better assist them in analyzing, valuing and trading our securities. These factors should improve FanDom Sports overall share liquidity and attractiveness to the U.S. market as we will continue to update our shareholders on the Blockchain development of technological integrations into our app economy."
Conclusions from a 2017 research project conducted by the Tapscott Group on behalf of Innovation, Science and Economic Development Canada outlined several proposals to cement Canada's position as a global leader in Blockchain technology through various uses and applications. A key proposition from this study states that given Canada's relatively small domestic market, it is vital for the Blockchain community to expand access to the United States. The U.S. is by far the largest source of financing for Blockchain related startups, the biggest market for their products and, outside Canada, the biggest supplier of talent for Blockchain and other fintech ventures.
About the Depository Trust & Clearing Corporation (DTCC)
The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets. DTCC, through its subsidiaries, advances industry-leading solutions that help secure and shape the future growth and development of the global financial marketplace. Today, they stand at the center of global trading activity, processing trillions of dollars of securities transactions on a daily basis.
About FanDom Sports Media Corp.
"FanDom Sports App - Fight with your thumbs, not your fists!"
FanDom Sports Media is an aggregator, curator and producer of user generated content, offered on a fan-focused social network, delivered through the FanDom Sports mobile app. We tap into the passion of fans by providing an engaging social platform for the world's most enthusiastic sports fans to share, compare, moan, whine, gloat and trash talk about the sports, teams, players, fans and owners they love, hate and love to hate.
The FanDom Sports App employs a proprietary 'argument engine', which is the first mobile sports-centric social media argument resolution platform. "FanDom Life" is a comprehensive mobile sports experience, giving the sports fan a front row seat to the hottest debates in sports. All day, every day. The one thing that sports fans love more than watching their favorite sport is arguing about the game and the athletes.
You may also visit the Company's website at www.fandomsportsmedia.com or contact us directly at [email protected]
On Behalf of the Company
"Henri Holm"
Henri Holm, CEO & President
For additional Information:
Chief Operating Officer
Allen S. Ezer
Tel: 416-453-7798.
Email: [email protected]
DISCLAIMER:
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company's control. Some of these risks and uncertainties may be described in the Company's corporate filings (posted at www.sedar.com).
The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events.
SOURCE: FanDom Sports Media Corp.