LexaGene Holdings Inc (CVE:LXG) (OTCQB:LXXGF) announced it is taking steps to list its common shares on the Nasdaq Capital Market, with the goal of submitting its application before the end of 2021.
The company said a successful Nasdaq listing will make its shares more accessible to retail and institutional investors in the US and internationally as well as increase share liquidity.
“Part of our growth strategy is to make the company more accessible to US investors. I’m very pleased to have engaged two exceptional firms to help guide us through this process,” LexaGene Holdings CEO Jack Regan said in a statement.
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“A successful Nasdaq listing makes us more attractive to institutional investors, and eligible for inclusion in key indexes and ETFs,” Regan added.
LexaGene noted it has retained law firm Latham & Watkins LLP in anticipation of filing the Registration and Annual Report for Canadian Securities Form (Form 40-F) with the US Securities and Exchange Commission (SEC) and has engaged RSM US LLP for audit, tax, and consulting services.
As well, the company said it has reserved the ticker symbol 'LXG' with the Nasdaq Exchange for a period of 24 months.
It added that receiving a Nasdaq listing is subject to first meeting the listing and regulatory requirements of the Nasdaq and SEC and there is no guarantee it will meet these future requirements.
LexaGene develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, food safety as well as for use in open-access markets such as clinical research, agricultural testing, and biodefense.
Its MiQLab system delivers excellent sensitivity, specificity, and breadth of detection, can test for 27 pathogens, and return results in about one hour versus 1-3 days at a lab.
Contact Sean at sean@proactiveinvestors.com