andrew-gook-LYQMlWgBTyY-unsplash-v2.jpg

Converge Technology Solutions Corp. Receives DTC Eligibility and Initiates Comprehensive U.S. Investor Relations Program

FOR IMMEDIATE RELEASE

TORONTO, ONTARIO, CANADA – July 30, 2019 – Converge Technology Solutions Corp. (“Converge” or the “Company”) (TSXV: CTS) (OTCQX: CTSDF) (FSE: 0ZB) is pleased to announce that its common shares have received Depository Trust Company (“DTC”) full-service eligibility within the United States. Subsequently, the Company has initiated a comprehensive U.S. investor relations program led by Gateway Investor Relations (“Gateway”), with supplementary efforts by Stonegate Capital Partners Inc. (“Stonegate”).

Being a subsidiary of the Depository Trust & Clearing Corporation, DTC was created with the intent to reduce costs and provide clearing and settlement efficiencies. DTC eligibility enables Converge common shares to be distributed, settled and serviced through DTC’s automated processes. Overall, this is expected to simplify the process of trading, while enhancing the liquidity of Converge’s common shares in the U.S.

To ensure the appropriate engagement of U.S. investors, the Company has retained Gateway, a full-service U.S. firm specializing in high-level capital markets consulting, corporate communications and investor outreach. The firm will work closely with Converge management to deploy a U.S.-focused capital markets program, while securing invitations to select financial conferences over the next 12 months (including the Gateway Conference). Activities will include: refining company and investment-oriented communications and corporate positioning; strategic advisory services; introductions to U.S.-based institutional investors and analysts; and, organizing investor meetings within the U.S.

Under the terms of the agreement, Converge will compensate Gateway as follows: USD$6,000 per month for the first three months; and USD$9,000 per month thereafter, with an initial term of six months which converts to a month-to-month agreement beyond the initial term. Following the initial term, either party may terminate the agreement by providing 60 days written notice. No stock is being offered as part of the agreement.

In addition to Gateway, Converge has retained Stonegate, a capital markets advisory firm. Stonegate will provide supplementary advisory and institutional outreach services, with the objective of strengthening the Company’s profile among U.S. institutional investors. The firm will work with Converge to refine messaging, target buy-side institutional investors and organize meetings with such targets.

Terms of the engagement call for Converge to compensate Stonegate on a month-to-month basis at the rate of USD$3,000 per month, subject to termination upon 10 days’ notice by either party. Stonegate and/or its employees, officers, directors and owners do not have any interest, directly or indirectly, in Converge or its securities.

“We believe our stakeholders will benefit from these experienced teams of financial communication professionals to help us more effectively navigate the U.S. capital markets environment and generate greater awareness of Converge by U.S. investors and analysts,” said Shaun Maine, CEO of Converge. “As a leading North American Hybrid IT Solutions Provider with an expanding customer footprint in the U.S., we believe that the Converge story will resonate with the U.S. investment community, while DTC eligibility will optimize the trading process for our U.S. employees and investors.”

These efforts will be in conjunction with Virtus Advisory Group (“Virtus”), which currently leads the Company’s Canadian Investor Relations Program. Virtus has been executing a strategic corporate communications program increasing Converge’s exposure by organizing investor meetings with industry stakeholders and investors across Canada. Virtus and its principals act at arm’s length to the Company and currently hold 44,800 shares of Converge. From time to time, Virtus may or may not be in possession of Converge shares.

 

About Gateway Investor Relations

Gateway (formerly Liolios) is a leading strategic financial communications and capital markets advisory firm. For more than 20 years, the firm has delivered superior performance in strategic consulting, corporate messaging and positioning, investor awareness, and analyst and financial press coverage. Gateway executives have extensive experience in capital markets and financial communications, and represent clients in a wide range of industries, including technology, consumer, industrials, financial services, and business services. To learn more, please visit www.gatewayir.com.

 About Stonegate Capital Partners

Stonegate provides corporate communications, corporate access and capital markets advisory services. Stonegate is a privately-owned firm based in Dallas, Texas. To learn more, please visit www.stonegateinc.com.

About Virtus Advisory Group

Virtus is a privately-owned Toronto-based consulting firm, providing select private and publicly listed companies with business consulting, capital markets strategy and investor relations services. To learn more, please visit www.virtusadvisory.com.

About Converge

Converge Technology Solutions Corp. combines innovation accelerators and foundational infrastructure solutions to deliver best-of-breed solutions and services to customers. The Company is building a platform of regionally-focused Hybrid IT Solutions Providers to enhance the ability to provide multi-cloud solutions, cybersecurity, artificial intelligence (‘AI’), identity management/enterprise blockchain, resiliency, and managed services, enabling Converge to address the business and IT issues that public and private-sector organizations face today. For more information, visit www.convergetp.com.

 

 

Company Contacts:

Mary Anne Palangio                                                       

Chief Financial Officer                                                   

Converge Technology Solutions Corp.                                   

investors@convergetp.com                                         

416-360-1495

 

John Flores

Executive Vice President

Converge Technology Solutions Corp.

investors@convergetp.com 

210-744-4460

  

Canadian Investor Contact:

 Corey Cohen or Babak Pedram

Virtus Advisory Group

converge@virtusadvisory.com

416-644-5081

  

U.S. Investor Contact:

Matt Glover or Tom Colton

Gateway Investor Relations

CTS@gatewayir.com

949-574-3860

 

Converge Technology Solutions Corp.Converge Technology Solutions Corp. Receives DTC Eligibility and Initiates Comprehensive U.S. Investor Relations Program
Share this post

Related Posts