VANCOUVER, British Columbia and LISBON, Portugal, May 04, 2022 (GLOBE NEWSWIRE) — TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovations,” or the “Company”), developers of the TUGA, a new type of electric vehicle (“EV”) solution for urban mobility challenges, is pleased to announce that its US-based OTC Markets quotation under the symbol “TUGAF” has received approval from the Depository Trust Company (“DTC”) to make the Company’s common shares eligible to be electronically cleared and settled through DTC (“DTC Eligibility”) services.
DTC is a subsidiary of the Depository Trust and Clearing Corporation, a United States company that manages the electronic clearing and settlement of publicly traded companies. DTC Eligibility incorporates an electronic method of clearing securities that speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investors. 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.
In addition to trading in the United States, TUGA Innovations’ common shares continue to trade on the Canadian Securities Exchange (CSE) under the symbol “TUGA” and the German Börse Frankfurt (FRA) exchange under the symbol “DQ5”.
Company CEO John Hagie adds, “Today’s news is a vital milestone towards…
