Tropic International Inc. Secures DTC Eligibility
Woodstock, Ontario--(Newsfile Corp. - October 6, 2014) - Tropic International Inc. (OTCBB: TRPO) (OTCQB: TRPO), a Nevada corporation in the business of developing and commercializing an innovative home mist tanning system, is pleased to announce that it has secured DTC eligibility for its common stock from the Depository Trust Company (DTC) effective October 1, 2014.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC) and provides electronic clearing, settlement and information services for the vast majority of publicly-traded equities and other securities in the United States. Since the trading of securities through DTC permits cost-effective clearing and guaranteed settlement, non-DTC eligible securities are often not accepted for deposit at many brokerage firms because of the obstacles required to execute trades, in turn making it difficult for a significant percentage of investors to access those securities.
John Marmora, the company's Chief Executive Officer, commented, "DTC eligibility increases the efficiency and lowers the cost associated with trading TRPO's common stock on the OTCBB and OTCQB, while at the same time increasing security and lowering transaction risk for investors. Electronic trading is the gold standard in today's financial markets and we are excited to be able to simplify the clearing and settlement process for both our shareholders and the investing public."
About Tropic International Inc.
Tropic International Inc. (OTCBB & OTCQB: TRPO) is in the business of developing and commercializing an innovative home mist tanning system through its partially owned Ontario, Canada subsidiary, Tropic Spa Inc. The company's goal is to market a unique, affordable system for convenient home use that delivers a full-body application and eliminates the harmful health effects associated with traditional tanning beds such as exposure to ultraviolet (UV) radiation, the consequences of which have been well-documented by numerous organizations including the American Cancer Society and the Canadian Cancer Society.
Tropic International Inc. has finalized the design of its home mist tanning system, applied for and acquired a United States Patent and has patents pending for Australia, Canada, China and the European Union. It has also completed two phases of test marketing initiatives and is currently preparing to launch a comprehensive three-phase marketing strategy. The company intends to capture a sizable share of the rapidly-evolving sunless tanning market by offering a safe, reliable and easy-to-use product.
For full product information, please visit the company's website at www.tropicspatan.com.
John Marmora - CEO
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