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Poynt Common Shares to Begin Trading on OTCQX as "PNYTF" on January 9, 2012(January 09, 2012)
CALGARY, ALBERTA -- (Marketwire) -- 01/09/12 -- Poynt Corporation (TSX VENTURE:PYN)(OTCQX:PNYTF) ("Poynt Corp." or the "Company"), a global leader in mobile local search and advertising, today announced that the common shares of the Company will commence trading in the United States (the "U.S.") on the OTCQX market under the symbol "PNYTF" at the open of markets today.
The OTCQX marketplace is the top tier of the U.S. Over-the-Counter markets operated by OTC Markets Group, Inc., providing end-to-end electronic quoting and trading capabilities for 160+ market participants and 10,000+ companies. OTCQX is currently home to more than 300 companies with over $1.2 trillion in total market capitalization.
"We welcome Poynt Corporation to the OTCQX marketplace, where information and visibility assist forward-thinking companies in building investor confidence and expanding their shareholder base," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "To trade on the OTCQX market, companies like Poynt Corporation must undergo a qualitative review and meet certain financial standards."
Andrew Osis, CEO of Poynt Corp. states that: "The OTCQX offers our growing U.S. investor base a combination of US-based quality control, transparency, and accessibility of information, as well as trading capabilities through regulated U.S. broker-dealers. We believe these strengths and the broad visibility of OTCQX will further assist our efforts to increase shareholder value."
Roth Capital Partners LLC serves as Poynt Corp.'s Principal American Liason on the OTCQX, responsible for providing guidance on the OTCQX requirements.
Poynt Corp.'s common shares will continue to trade as "PYN" on the TSX Venture Exchange.
The OTCQX marketplace is the premier tier of the U.S. Over-the-Counter (OTC) market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a traditional U.S. stock exchange. For more about OTCQX, visit www.otcmarkets.com.
About Roth Capital Partners LLC ("Roth")
Roth is an investment banking firm dedicated to the small-cap public market. Roth's exclusive focus is to offer its clients a full spectrum of investment banking services, including capital raising, research coverage, trading and market making, merger and acquisition advisory services, and investor conferences.
About Poynt Corporation
Poynt Corp. (about.poynt.com) (TSX VENTURE:PYN)(OTCQX:PNYTF) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) and advertising platform, Poynt (www.poynt.com), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on Android, iPhone, Windows Phone and Nokia devices, along with BlackBerry smartphones and BlackBerry PlayBook Tablets in Canada, the United States, Europe, India and Australia. Poynt Corp. entered the mobile publishing space with the acquisition of an advertising publishing platform in January 2011. Whether through the Poynt Local Search Platform or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN and in the United States on the OTCQX under the symbol PNYTF.
Important Cautions Regarding Forward-looking Statements
This news release contains forward-looking statements relating to: the effect of an OTCQX listing on investor awareness; the benefits and strengths of an OTCQX listing; the effect of an OTCQX listing on building shareholder value; and other statements that are not historical facts. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.
These forward-looking statements are based on certain key assumptions regarding, among other things: the benefits of an OTCQX listing; effect of OTCQX listing on building shareholder value and on investor awareness; future technological developments; the cost of expanding product lines; the impact of increasing competition; the continuity of existing business relationships; the continued successful development, implementation and execution of the Poynt platform; continued growth in number of active users of the Poynt platform; conditions in general economic and financial markets; the ability to complete previously announced transactions; ability to obtain all necessary regulatory approvals; and our ability to obtain financing on acceptable terms. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: risk that the OTCQX listing will not have the intended effect on investor awareness or building shareholder value; risk that the benefits of the OTCQX listing will not be achieved; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products; the success of the Company's brand development efforts; risks associated with strategic alliances; failure of counterparties to perform on contracts; failure to successfully negotiate contracts; failure to successfully negotiate additional preload agreements; reliance on distribution channels; product concentration; need to develop new and enhanced products; failure to obtain necessary regulatory approvals; potential product defects; our ability to hire and retain qualified employees and key management personnel; risks associated with changes in domestic and international market conditions and the entry into and development of new markets for the Company's products; and the risks described under "risk factors" in our Annual Information Form for the year ended December 31, 2010 which is available on our SEDAR profile (www.sedar.com).
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on expectations of, or statements made by, third parties in respect of the forward-looking statements identified above.
The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. Apple App Store and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Windows is a registered trademark of Microsoft Corporation in the United States and other countries. Android is a registered trademark of Google Inc. Nokia is a registered trademark of Nokia Corporation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR POYNT CORPORATION
Andrew Osis, CEO
North American Public Relations Contact:
Global Results PR for Poynt Corporation
Investor Relations Contact:
Liolios Group, Inc.
Scott Liolios or Matt Glover
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