- TUT Fitness Group begins trading on the OTCQB under the symbol GYMFF
- The TUT Fitness Group receives the DTC authorization
VANCOUVER, BC, June 21, 2022 /PRNewswire/ — TUT Fitness Group Inc. (TSXV: GYM) (OTC: GYMFF) (Frankfurt: 7PG) (“TUT” or “the Company”), a Vancouver-based Canadian manufacturer of high-performance, affordable fitness products is pleased to announce that its common shares will begin trading on the OTCQB Venture Market (the “OTCQB”) under the symbol “GYMFF”. April 1, 2022and that it has received confirmation from the Depository Trust Company (“DTC”) that its common shares are now eligible for electronic clearing and settlement by DTC in The United States. The company continues to trade on the TSX Venture Exchange under the symbol “GYM” and on the Frankfurt Stock Exchange under the symbol “7PG”.
The OTCQB Venture Market
The OTCQB Venture Market is the premier marketplace for US and international seed and development-stage companies committed to providing their US investors with a quality trading and information experience. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company review and management certification process. The OTCQB Quality Standards provide a strong foundation for transparency, as well as the technology and regulation to improve the information and trading experience for investors.
Trading on this US marketplace offers TUT’s current and prospective US-based investors greater access to data, home country disclosure, ease of trading and transparency.
“We are pleased to announce that we have met all requirements and have been accepted by OTC Markets to move up from the Pink Sheet to the OTCQB tier for trading,” said the CEO of TUT Rob Smith. “The listing on the OTCQB is another important milestone for the company and we are confident that the uplisting will add value to our shareholders.”
The Depository Trust Company manages the electronic clearing and settlement of listed companies. Securities that are eligible for electronic clearing and settlement through DTC are considered DTC Eligible. This electronic method of clearing securities speeds up the receipt of stocks and cash, thereby speeding up the settlement process for investors and brokers, allowing the stocks to be traded through a much wider range of brokerage firms.
Receiving DTC eligibility represents the Company’s commitment to increasing visibility and accessibility for all of its shareholders The United States. It allows TUT to extend its reach to a larger portion of the global investment community while providing a more efficient and seamless trading process.
Please see our investor information including our TUT investor presentation (June 2022) and TUT press releases.
ABOUT THE TUT FITNESS GROUP:
TU is a Vancouver-based Canadian manufacturer of high-performance and affordable fitness products. The company designed, patented and manufactured one of the world’s smallest (11.6 lbs) and most affordable high-performance home gym. Founded in 2018, TUT is an emerging player in the connected home gym and fit tech hardware space focused on the $10.73 billion Global exercise bike market and Online Fitness Market, expected $30 billion until 2026.
TUT’s flagship product, the TUT Trainer™ Micro Gym, uses patented, stackable resistance band technology (TUT Plates™) to replace heavy metal weights, improve form and target every muscle group without putting pressure on joints or tendons. With more than 250+ exercises, the multifunctional portable gym also includes an optional TUT Rower™ and offers breakthrough functional strength and cardio training that raises the bar for personal home gyms.
For more information please contact:
CEO, TUT Fitness Group Inc.
Certain statements in this press release are forward-looking statements or information, including the preferred affiliate sales program, TUT Fitness Group, which licenses its technology, expectations and results of TUT Fitness Group’s patented technology, the development of technologies, customer demand for TUT Fitness Group products, increasing sales and revenue, global expansion, TUT product updates, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including statements about beliefs, plans, expectations or intentions regarding the future. Such information is generally identifiable by the use of forward-looking language such as “may,” “expect,” “estimate,” “anticipate,” “intend,” “believe,” and “continue,” or the negative thereof, or similar variations. The reader is cautioned that assumptions used in preparing the forward-looking information may prove to be incorrect. Events or circumstances could cause actual results to differ materially from those predicted due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including but not limited to business and economic and capital market conditions , the ability to manage operating expenses, security threats and dependency on key personnel, and including those other risks reported under the Company’s profile on SEDAR at www.sedar.com. Such statements and information are based on numerous assumptions about current and future business strategies and the future environment in which the company will operate, including demand for its products, anticipated costs and the ability to achieve objectives. Factors that could cause actual results to differ materially from those in the forward-looking statements include failure to obtain regulatory approval, continued availability of capital and financing, equipment and technology failures, litigation, increases in operating expenses , lack of demand for the Company’s products and services, the impact of COVID-19 or other viruses and diseases on the Company’s ability to operate, competition, failure of counterparties to meet their contractual obligations, exchange rate fluctuations, government regulations, loss of key employees and consultants and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Furthermore, the Company undertakes no obligation to comment on the expectations or statements of any third party with respect to the matters discussed above.
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SOURCE TUT Fitness Group Limited