Ann: Successful Uplisting to OTCQX Market in the United States, page-4

The OTCQX market is the top tier of the three marketplaces operated by the OTC Markets Group in the U.S. It’s an over-the-counter (OTC) market designed for established, reputable companies that meet high financial standards and follow good governance and transparency practices.

Key Features of the OTCQX Market:

• ✅ No SEC registration required (for some foreign and domestic companies).

• ✅ Companies must meet strict financial and disclosure standards.

• ✅ Must have a sponsor, such as a reputable investment bank or law firm.

• ✅ No penny stocks or shell companies allowed.

• ✅ Provides greater visibility and credibility than lower OTC tiers.

Tiers of OTC Markets:

1. OTCQX – "Best Market" – for high-quality companies.

2. OTCQB – "Venture Market" – for early-stage and developing companies.

3. Pink – "Open Market" – for all other OTC securities, often high-risk and speculative.

Types of Companies on OTCQX:

• International blue chips (e.g. Nestlé, Roche, Heineken).

• U.S. companies that choose not to list on NASDAQ/NYSE but still want investor access.

• Smaller public companies with solid fundamentals.