Designation provides cost-effective clearing and settlement of GWPD’s shares.
CORONA, Calif., July 29, 2019 — GP Solutions (OTC: GWPD), a leading developer of automated micro-farms, is pleased to announce that the company’s common shares trading under the symbol GWPD, are now Depository Trust Company (“DTC”) eligible.
DTC is a subsidiary of The Depository Trust & Clearing Corporation, which manages electronic clearing and settlement of publicly traded companies. Securities such as GWPD’s that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” Trading of securities through DTC allows for cost-effective clearing and settlement, in turn simplifying and accelerating the settlement process for investors trading GWPD’s shares.
Securities that do not have DTC eligible status are often not accepted for trading at many brokerages due to the cost, amount of paperwork, and staff required to execute and settle trades. This in turn makes it difficult for a significant percentage of investors to easily access non DTC eligible shares.
DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law, and a registered clearing agency with the U.S. Securities and Exchange Commission.
“DTC eligibility will be very beneficial for our shareholders,” George Natzic, President of GP Solutions stated. “Now, the process for trading our common shares has been greatly simplified for investors and traders. As GP Solutions keeps executing its business plan and growing, this improved access to trade in the open market and increased visibility should attract more potential investors, which should increase the liquidity of our shares.”
ABOUT GP SOLUTIONS:GP Solutions developed “GrowPods” – portable, modular, automated indoor micro-farms that provide optimum conditions for plant cultivation with total environmental control.
Forward-Looking StatementsThis release includes predictions or information that might be considered “forward-looking” within securities laws. These statements represent Company’s current judgments but are subject to uncertainties that could cause results to differ. Readers are cautioned to not place undue reliance on these statements, which reflect management’s opinions only as of the date of this release. The Company is not obligated to revise any statements in light of new information or events.