NEW YORK, Feb. 14, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced that CVW CleanTech Inc. (“CVW CleanTech” or the “Company”) (TSX-V: CVW; OTCQX: CVWFF) has qualified to trade on the OTCQX® Best Market. CVW CleanTech upgraded to OTCQX from the Pink® market. CVW CleanTech is the owner of a ready-to-deploy technology able to recover valuable commodities, including critical minerals and hydrocarbons, from froth treatment tailings generated by oil sands mining operations while abating approximately 90% of the methane emitted from an oil sands mining site.
CVW CleanTech Inc. begins trading today on OTCQX under the symbol “CVWFF.” U.S. investors can find current financial and other relevant disclosures, and Real-Time Level 2 quotes for the Company, on www.otcmarkets.com.
“We are pleased to begin trading on the OTCQX Market in New York. U.S. based investors will now be able to access our shares and corporate information in a more seamless manner,” said Joshua Grant, CVW CleanTech’s Chief Financial Officer. “We intend to actively engage with U.S. investors to ensure that the Company’s value proposition is well understood in the U.S. Additionally, the Company is in the process of applying for DTC eligibility and we will update the market once DTC eligibility has been obtained.”
Upgrading to the 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.
B. Riley Securities, Inc. acted as the Company’s OTCQX sponsor.
About CVW CleanTech Inc.
CVW CleanTech Inc. is a clean technology innovator working to develop sustainable technology solutions. The Company has developed a suite of proprietary technologies called Creating Value from Waste™ (CVW™) that recover bitumen, solvents, critical minerals, and water from oil sands froth treatment tailings while significantly reducing tailings pond emissions and enhancing tailings management.
On an annual basis, an industry wide implementation of CVW™'s EcoMax development option could be expected to:
- Recover 13.2 million barrels of hydrocarbons (11.4 million barrels of bitumen and 1.8 million barrels of solvent);
- Produce 1.5 million tonnes per year of critical mineral concentrates in the form of titanium and zircon;
- Abate up to 5,000,000 tonnes of CO2 equivalents, primarily methane;
- Eliminate up to 30,000 tonnes of volatile organic compounds (VOCs - considered toxic substances by Environment and Climate Change Canada);
- Potentially eliminate tailings pond growth due to froth treatment operations, and
- Generate annual revenues of $2.7 billion within the province of Alberta.
CVW CleanTech has invested over $100 million and over 15 years to advance the CVW™ technology to ready-to-deploy status. This technology has been supported by large-scale integrated piloting and progressive commercial engineering studies resulting in 20 active patents.
For learn more about CVW CleanTech, visit:
www.cvwcleantech.com
www.cvwcleantech.com/technology/process-and-technology-overview/
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
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Media Contacts:
CVW CleanTech Inc., +1 (403) 460-8135, Joshua.grant@cvwcleantech.com
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
CVW CleanTech Disclosure Regarding Forward-looking Information
This news release contains forward-looking statements and information within the meaning of applicable securities laws (collectively, “forward-looking information”) that reflect the current expectations of management about the future results, performance, achievements, prospects, or opportunities of the Company.
Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved. The forward-looking statements may include statements regarding the Company’s results and its business plan and/or other future opportunities that are not statements of fact. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company may differ materially from those reflected in forward-looking statements due to a variety of risks, uncertainties, and other factors. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in other information released by the Company from time to time and filed with the appropriate regulatory agencies.
All forward-looking statements are based on the Company’s beliefs and assumptions which are based on information available at the time these assumptions are made. The forward-looking statements contained herein are as of the date set out above and are subject to change after this date, and the Company assumes no obligation to publicly update or revise the statements to reflect new events or circumstances, except as may be required pursuant to applicable laws.
Although the Company believes that the expectations represented by such forward-looking information or statements are reasonable, there is significant risk that the forward-looking information or statements may not be achieved, and the underlying assumptions thereto will not prove to be accurate. Actual results or events could differ materially from the plans, intentions and expectations expressed or implied in any forward-looking information or statements, including the underlying assumptions thereto, as a result of numerous risks, uncertainties and/or factors.
