BABYF - Else Nutrition Announces Engagement of Red Cloud Securities | Benzinga
VANCOUVER, British Columbia, Sept. 14, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) ("Else" or the "Company"), is pleased to announce it has retained Red Cloud Securities ("Red Cloud") to provide liquidity services to the Company in compliance with the policies and guidelines of the TSX and other applicable legislation. Red Cloud is a Toronto-based financial services company that helps issuers access capital markets and enhance their corporate profile. Red Cloud will trade shares of Else on the TSX for the purposes of maintaining a reasonable market and improving the liquidity of Else's common shares.
Under the agreement, the Company will pay Red Cloud $5,000 per month during the term. The term of engagement is ongoing and may be terminated by either party on 30 days' prior written notice. The Company and Red Cloud have an arm's length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of Else. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market-making agreement. There are no performance factors contained in the agreement between Red Cloud and the Company and Red Cloud will not receive any shares or options from the Company as compensation for services it will render.
"We look forward to working with Red Cloud and their expertise in helping run an efficient and orderly market," said ...