Miami, FL, Dec. 11, 2023 (GLOBE NEWSWIRE) -- OM Holdings International, Inc. (OMHI), a prominent leader in the retail and on-demand delivery sectors in emerging markets, today revealed its board of directors' decision to seek a dual listing on the Toronto Stock Exchange (TSX-V) early next year. This initiative, complementing its current OTCQX listing, aims to catalyze OMHI’s growth, expand its investor base, and significantly boost shareholder value in anticipation of a planned NASDAQ uplisting later next year.
Key Highlights of the Dual Listing Strategy:
- Enhanced Liquidity and Market Accessibility: The dual listing on TSX-V is set to provide OMHI with access to a deeper capital pool and a broader investor base. This move is expected to increase liquidity and facilitate better price discovery for OMHI’s shares, benefiting existing shareholders on the OTCQX market.
- Continued Investment Security: The company reassures its OTCQX investors that the TSX-V listing will not affect the validity or security of their current investments. Rather, it represents an addition to the investment's marketability and potential for appreciation.
- Elevated Credibility and Visibility: The TSX-V is renowned for its rigorous regulatory framework, enhancing OMHI's credibility and visibility in the global market. This elevated status is likely to reflect positively in the company’s valuation.
- Facilitating International Growth: The listing aligns with OMHI’s ambitious expansion plans, particularly in international emerging markets. This strategic move underpins the company's commitment to exploring new growth avenues and driving long-term profitability.
- Unwavering Commitment to Shareholders: OMHI remains steadfast in its mission to maximize shareholder value. The company's decision to list on TSX-V is a testament to its dedication to expanding its market presence and enhancing investor returns.
- Trading Flexibility for Investors: Shareholders will have the flexibility to trade on either OTCQX or TSX-V, offering them a choice based on their individual trading preferences.
NASDAQ Uplisting Strategy
The TSX-V listing is a pivotal move for OMHI, setting the stage for an uplisting to NASDAQ in 2024. This strategic step is expected to boost market presence, financial strength, and investor confidence, aligning us with NASDAQ's rigorous standards. By demonstrating robust shareholder growth on TSX-V, OMHI positions itself to meet NASDAQ's listing requirements, while enhancing global visibility and market valuation. This crucial phase in our journey promises new growth avenues and broader investor engagement.
Addressing the Annual Report Delay
OMHI recognizes the delay in releasing its annual report, an unusual deviation from its history of regulatory diligence. This delay stems from our transition from U.S. GAAP to IFRS accounting practices, a strategic alignment with global financial standards and an essential step for the TSX-V listing. The company values the patience of its investors during this transition and reaffirms its commitment to high standards of financial disclosure.
Preliminary Financial Performance Insights
As we finalize our annual audit, OMHI is pleased to share that 2023 has been marked by the highest revenue in its history, underscoring the company's effective strategies and adaptability in a dynamic market.
CEO’s Statement
Mark Vanterpool, CEO of OMHI, commented, "Our move towards a TSX-V listing marks a pivotal stride in reinforcing our standing in the global financial arena, as we forge new partnerships in emerging markets this year. Transitioning to IFRS accounting, coupled with our steadfast commitment to transparent communication, embodies our adherence to international best practices and enhancing shareholder value. We are confidently poised for ongoing growth and look forward to the exciting opportunities ahead."
About OM Holdings International, Inc.
OM Holdings International, Inc. (OTC: OMHI), founded in 1986 in the British Virgin Islands (BVI) by Mark Vanterpool, operates delivery services and grocery stores in the Caribbean, with a mobile application delivery platform that provides an expedient, contactless option for the transportation of people and essential goods. The company's storefront, OneMart, is the second-largest grocery store in the BVI. OMHI's delivery subsidiary, Rydeum, founded by Mark Hannah in 2019, has partnered with Jamaica’s largest taxicab union, JUTA. The company also provides lumber and other construction supplies to contractors throughout the Caribbean. For more information, please visit OM Holdings International.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations, and the economy in general, and the company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Mark Vanterpool
Chief Executive Officer
T: 305-901-1497
Email: us.info@omholdingsinc.com
