Hispanica International Delights of America, Inc. Announces Uplisting to OTCQB Exchange
/EIN News/ -- new york, Oct. 19, 2016 (GLOBE NEWSWIRE) --
Hispanica International Delights of America, Inc.
Announces Uplisting to OTCQB Exchange
New York, NY (October 19, 2016) — Hispanica International Delights of America, Inc. (OTC: HISP) (“Hispanica” or the “Company”), a diversified food and beverage company in the Hispanic and ethnic food industry, today announces that its common stock has been approved for uplisting to the OTCQB® Venture Market Place (OTCQB).
The OTCQB is considered by the Securities and Exchange Commission (SEC) as an "established public market" for the purpose of determining the public market price when registering securities for resale with the SEC. The OTC Pink is not considered as such and most broker dealers will not trade or recommend OTC Pink stocks. Because the OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements, the Company believes the majority of broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach this OTCQB tier.
Key elements and benefits of uplisting to the OTCQB include:
- Companies must remain current and compliant in their reporting to the SEC
- Minimum bid price test of $0.01 removes companies that are most likely to be the subject of dilutive stock fraud schemes and promotion
- Improved investor confidence through verified information, confirming that the Company Profile displayed on www.otcmarkets.com is current and complete
- Annual management certification process to verify officers, directors, controlling shareholders, and shares outstanding
- Greater information availability for investors through the OTC Disclosure & News Service
- Transparent prices for investors through full-depth of book with Real Time Level 2 quotes
"Hispanica is extremely proud to announce our uplisting to the OTCQB® Venture Marketplace," stated Fernando Oswaldo Leonzo, Hispanica’s Chairman & CEO. "We are committed to the high level of financial and corporate disclosure that is required for this listing category. Further, the uplisting demonstrates significant improvement in how we are categorized in the public market, directly related to a platform that requires full transparency. This move represents our continued commitment to our shareholders, and we believe that trading on the OTCQB will enhance trading liquidity, broaden our shareholder base and continue to increase market awareness of our business model, thereby enhancing overall shareholder value."
"As we focus on building a solid and profitable core business that delivers long-term shareholder value, we believe this uplisting will enhance investor accessibility and serve as a stepping stone to meeting the listing requirements for admission to a higher stock exchange in the future such as NASDAQ" continued Mr. Leonzo.
About Hispanica International Delights of America, Inc.
Hispanic International Delights of America, Inc. (Hispanica) is a public company, founded in 2013. HISP is engaged in the distribution of proprietary, licensed and third party Hispanic and Ethnic food and beverages throughout the United States. Hispanica has already begun to distribute fruit juices, nectars, and milk based products and will begin to distribute teas, carbonated drinks, dry goods, preserves, frozen foods and bakery products. The brands distributed are under a proprietary basis (through distribution agreements and/or exclusive licensing arrangements). These brands emulate the flavors, tastes, and traditions, which have been known for generations among the Hispanic and other ethnic groups, and are now becoming part of the American mainstream diet. Hispanica is also committed in building long-term relationships with its consumers by offering superior, high quality products at the most competitive prices.
Hispanica is headquartered in New York State with distribution operations under way in the New York City Tri-State Region, the Washington, D.C. Metro Area, the Houston Metropolitan Area, and in Los Angeles and the Northern California Region.
For more information on Hispanica International Delights of America, Inc. please visit http://www.hispanicadelights.com/
SAFE HARBOR ACT
Forward-Looking Statements: This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Hispanica International Delights of America, Inc. (“Hispanica”) its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy and (iv) results of its up-listing. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Hispanica’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Hispanica’s filings with the Securities and Exchange Commission.
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