Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) this morning announced that it has been awarded Depository Trust Company (DTC) and Continuous-Net-Settlement (CNS) eligibility for its common shares listed on the OTCQX® Best Market. Per the update, the DTC manages the electronic clearing and settlement agency serving publicly traded companies in the U.S., providing an electronic method of clearing securities that speeds up the receipt of stock and cash while accelerating the settlement process. CNS, on the other hand, is an automated book-entry accounting system that aims to centralize the settlement of security transactions while maintaining an orderly flow of security and money balances between market participants. Phivida expects that attaining DTC and CNS eligibility will simplify and accelerate settlement for investors while enhancing the liquidity of the company’s common shares on the OTC marketplace.
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About Phivida Holdings Inc.
Celebrating Health and Wellness, In Harmony™, Phivida’s mission is to lead the alternative health care sector as the benchmark standard in premium cannabinoid infused foods, beverages and clinical products. Using encapsulation technology, Phivida converts phytocannabinoids into water soluble delivery format, enhancing bioavailability, and timed released within the body. Phivida’s encapsulated cannabinoids are infused into functional beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain to terminal diseases. The World Anti-Doping Association’s recent decision to lift its ban of CBD from hemp oil and the World Health Organization’s recent statement supports the clinical benefits of CBD worldwide. Phivida is traded on the Canadian Securities Exchange as “VIDA” and on the OTCQX Markets as “PHVAF”. For more information, visit the company’s website at www.Phivida.com
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