GTEC Holding (GTEC.V) announced they have received approval for the Toronto Stock Exchange (TSX) to uplist and are planning to rebrand as Avant Brands.
GTEC, which currently trades on the TSX Venture under the ticker ‘GTEC’, will begin trading on the TSX on July 12, 2021 (next Monday) under the ticker AVNT when the markets open. Their new website, www.avantbrands.ca, will go live at the same time.
“Graduating to the TSX highlights our growth and ability to execute. Since 2017, we have demonstrated our commitment to providing industry-leading, innovative products while never compromising the quality or consistency that we are known for,” stated Norton Singhavon, Founder and CEO of GTEC Holdings. “We believe that a TSX listing recognizes our strong commitment to corporate governance and provides us with exposure to a broad new investor base that will enhance the liquidity of our common shares and warrants.”
The uplisting and rebranding represent GTEC’s graduation from basement bin penny stock to just regular penny stock.
GTEC spent over a year under a quarter a share and reached a low of $0.08 cents at one point. Now, they’ve paid off old debts and, as my colleague Joseph Morton put it, “launche[d] into the 21st century”. After launching their medical cannabis e-commerce website, the stock began a climb up from the aforementioned basement, reaching a high of $1.08 and only dropping below $0.50 once.
GTEC is also moving up to the OTCQX Best Market from the OTCQB Venture Market. Concurrent with it’s TSX rebranding, when it graduates to the OTCQX market, GTEC will be changing its symbol to ‘AVNTF’ to reflect its new branding. It will begin trading on the OTCQX Best Market on July 12, 2021.
“Graduating to the OTCQX is a major step in our growth, as we continue to be recognized globally for our ability to consistently produce high quality products,” stated Norton Singhavon. “The graduation demonstrates our commitment to continuously improve the Company’s reporting and governance. We believe that the graduation will also provide our existing shareholders with increased liquidity, while expanding our exposure in the United States.”
Through their uplistings, GTEC will have access to plenty of new big investors. Between that and their new branding, GTEC/Avant is in the middle of a big step for the company.
Following the news, GTEC shares are up 4 cents and are currently trading at $0.66.