OTTAWA, ON, May 10, 2021 /CNW/ - Intouch Insight Ltd.,
("Intouch" or "the Company") (TSXV: INX) (OTCQX: INXSF) is pleased
to announce that its common shares are now trading on the
OTCQX® Best Market under the ticker symbol of INXSF. Intouch
upgraded to OTCQX from the OTCQB® Venture Market. The OTCQX
Best Market is the highest market tier of OTC Markets on which
11,000 U.S. and global securities trade. Trading on OTCQX will
enhance the visibility and accessibility of the Company to U.S.
investors. Intouch's common shares will continue to trade on
the TSX Venture Exchange under the symbol INX.
The OTCQX Best Market provides value and convenience to U.S.
investors, brokers and institutions seeking to trade INXSF. The
OTCQX Best Market is OTC Markets Group's premier market for
established, investor-focused U.S. and international
companies. To be eligible, companies must meet high financial
standards, follow best practice corporate governance, demonstrate
compliance with U.S. securities laws, be current in their
disclosure, and have a professional third-party sponsor
introduction.
"We first started a relationship with OTC Markets when we
realized that while there was a lot of investor interest in
the United States there were also
barriers that we wanted to remove. Since the addition of the
OTCQB option for investors we have seen an increase in both
liquidity and breadth of shareholders. As we continue to grow
and look toward the future it made sense to upgrade to the OTCQX
and remove any remaining barriers," said Cameron Watt, President and CEO.
Intouch also announces today that its Board of Directors has
adopted two new by-laws:
- By-Law No. 1B - General Corporate By-Law, relating to general
corporate matters (the "General By-Law"), which rescinds and
replaces the Company's existing general corporate by-law; and
- By-Law No. 2 - Advance Notice By-Law, relating to advance
notice requirements for director elections (the "Advance Notice
By-Law") to provide shareholders, directors, and management of the
Company with a clear framework for nominating directors of the
Company in connection with any annual or special shareholders'
meeting.
The General By-Law, among other provisions, contains provisions
designed to ensure that Intouch's by-law remains consistent with
evolving corporate laws and governance practices and guidelines.
The by-law will also include specific provisions to allow for the
Company to issue Direct Registration System (DRS) certificates in
addition to, or instead of, physical share certificates.
There are several other changes of a housekeeping nature to provide
flexibility and provide for the more detailed implementation to be
set out in the Canada Business Corporations Act (the
"CBCA").
The Advance Notice By-Law includes advance notice requirements
for director elections in connection with any annual or special
meeting of the shareholders. The Advance Notice By-Law has been
adopted to ensure that all shareholders receive adequate notice of
director nominations, giving them sufficient time and information
to enable them to exercise their voting rights in an informed
manner. The Advance Notice By-Law is similar to the advance notice
by-laws adopted by several other Canadian public companies. In
particular:
- In the case of an annual meeting of shareholders, notice of
nomination must be given to the Company not less than 30 days prior
to the date of the annual meeting and not less than 40 days where
notice-and-access is used for delivery of proxy related materials.
In this first year of adoption, the Board of Directors has
decreased this notice requirement to be not less than 15 days prior
to the date of the Annual and Special Meeting of the Company which
is scheduled to be held on June 17,
2021.
- In the event that the annual meeting is to be held less than 50
days after the date on which the first public announcement of the
date of the annual meeting was made, notice of nomination must be
given not later than the close of business on the 10th day
following that public announcement.
- In the case of a special meeting of shareholders which is not
also an annual meeting, notice to the Company must be given not
later than the close of business on the 15th day following the day
of the first public announcement of the date of the special
meeting.
The Advance Notice By-Law also outlines the proper written form
for a shareholder's notice. The Board of Directors may, in its sole
discretion, waive any requirement under these provisions.
Both the General By-Law and Advance Notice By-Law are effective
immediately and will be placed before shareholders for approval,
confirmation, and ratification at the next Annual and Special
Meeting of Shareholders of the Company, which is scheduled to be
held on June 17, 2021.
According to the provisions of the CBCA, each of the
General By-Law and Advance Notice By-Law, respectively, will cease
to be effective unless it is approved, confirmed, and ratified by a
resolution adopted by a majority of the shareholder votes cast, in
person or by proxy, at the Meeting.
The full text of the by-laws is available under the Company's
profile at www.sedar.com.
About Intouch Insight
Intouch Insight offers a
complete portfolio of customer experience management (CEM) products
and services that help global brands delight their customers,
strengthen brand reputation and improve financial performance.
Through its flagship SaaS product, LiaCX®, Intouch helps clients
collect and centralize data from multiple customer touch points,
gives them actionable, real-time insights, and provides them with
the tools to continuously improve customer experience. Founded in
1992, Intouch is trusted by over 300 of North America's most-loved brands for their
customer experience management, customer survey, mystery shopping,
mobile forms, operational and compliance audits, and event
marketing automation solutions. For more information, visit
intouchinsight.com.
Certain statements included in this news release contain
forward looking statements, which by their nature are necessarily
subject to risks and uncertainties and other factors that may cause
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such statements reflect the Company's current
views with respect to future events, and are based on information
currently available to the Company and on hypotheses which it
considers to be reasonable; however, management warns the reader
that hypotheses relative to future events which are beyond the
control of management could prove to be false, given that they are
subject to certain risks and uncertainties.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Intouch Insight Ltd.