Cannabis company Xebra Brands Ltd.'s XBRA XBRAF (FSE:9YC) common shares have been made eligible for book-entry and depository services of the Depository Trust Company to facilitate electronic clearing and settlement of transfers of its common shares in the United States.
DTC eligibility is expected to simplify the process of trading and the transferring of Xebra's shares and will enhance liquidity in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers, enabling trading over a wider selection of brokerage firms.
"Receiving DTC eligibility, is an important milestone for Xebra, and is part of our commitment to increase corporate visibility while positioning U.S. investors to participate in Xebra's growth," stated Rodrigo Gallardo, president of Xebra.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be "DTC eligible."
Price Action
Xebra shares were trading 6.67% higher at $0.128 per share at the time of writing Tuesday morning.
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