H2O Innovation Inc. (OTCMKTS:HEOFF) (TSXV:HEO) Stock Moves Up A Bit On Conditional Approval to List on the TSE
Shares of H2O Innovation Inc. (OTCMKTS:HEOFF) (TSXV:HEO) closed a bit higher in the previous session.
Market Stats
On Monday, HEOFF stock gained 2.16% to $1.89 with more than 21k shares, compared to its average volume of 22.5K shares. The stock has moved within a range of $1.8400 – 1.9900 after opening trading at $1.99.
Conditional Approval Granted to H2O Innovation for Listing on the Toronto Stock Exchange
H2O Innovation Inc. (OTCMKTS:HEOFF) (TSXV: HEO) announced on January 31, 2022, about receiving conditional approval to list its common shares on the Toronto Stock Exchange (TSX). It is a logical move, as the company recently secured a spot on the 2022 TSX Venture 50!
Frédéric Dugré, President and Chief Executive Officer of H2O Innovation, stated that listing of shares on the TSX is a crucial milestone for the company. It will certainly contribute to the achievement of the objectives of their 3-year strategic plan. Being one of the few Pure-Water-Play companies, the listing on TSX should definitely attract a larger number of investors interested in the water and ESG category.
Pursuant to the listing, the company will apply to voluntarily delist common shares from the TSX Venture Exchange. It is to be effective from the date that common shares begin trading on the TSX. The company has also amended its stock option plan to align with TSX standards. Final approval of the listing is pending, depending upon the company meeting certain customary requirements by the TSX. However, the company is working to comply with all requirements of the TSX in the coming weeks.
A press release is set to be issued once the date of trading of common shares is confirmed by the TSX.
Key Quote
“The listing of our shares on the TSX will represent an important milestone for the Corporation and will contribute to the achievement of the objectives of our 3-year strategic plan. As one of only a few Pure-Water-Play companies, our listing on the TSX should enable us to attract a larger audience of investors interested in the water and ESG category. We feel the listing of our shares on the TSX is a logical step after the Corporation recently achieved a spot on the 2022 TSX Venture 50,” stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.
Traders Corner
HEOFF stock is trading below the 20-Day and 50-Day Moving averages of $1.96 and $1.95 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.94.
