ST. MAARTEN, Dutch West Indies, July 05, 2016 (GLOBE NEWSWIRE) -- Blue Water Bar & Grill, Inc. (OTCQB:BWBG), a diversified developer of Caribbean casual dining restaurant properties, announces that its common stock has been approved for uplisting to the OTCQB® Venture Market Place (OTCQB).
The OTCQB is considered by the Securities and Exchange Commission (SEC) as an "established public market" for the purpose of determining the public market price when registering securities for resale with the SEC. The OTC Pink is not considered as such and most broker dealers will not trade or recommend OTC Pink stocks. Because the OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements, the majority of broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
Key elements and benefits of uplisting to the OTCQB include:
- Companies must remain current and compliant in their reporting to the SEC
- Minimum bid price test of $0.01 removes companies that are most likely to be the subject of dilutive stock fraud schemes and promotion
- Improved investor confidence through verified information, confirming that the Company Profile displayed on www.otcmarkets.com is current and complete
- Annual management certification process to verify officers, directors, controlling shareholders, and shares outstanding
- Greater information availability for investors through the OTC Disclosure & News Service
- Transparent prices for investors through full-depth of book with Real Time Level 2 quotes
"Blue Water is extremely excited to announce our uplisting to the OTCQB® Venture Marketplace," stated J. Scott Sitra, Blue Water’s CEO. "Blue Water is committed to the high level of financial and corporate disclosure that is required for this listing category and it further demonstrates significant improvement in how we are categorized in the public market and directly relates to a platform that requires full transparency. This move represents our continued commitment to our shareholders, and we believe that trading on the OTCQB will enhance trading liquidity, broaden our shareholder base and continue to increase market adoption of our business model, thereby enhancing overall shareholder value."
"As we focus on building a solid and profitable core business that delivers long-term shareholder value, we believe this uplisting will enhance investor accessibility and serve as a stepping stone to meeting the listing requirements for admission to the NASDAQ® Stock Exchange in the future," continued Mr. Sitra.
About The OTCQB® Venture Marketplace
The OTCQB® Venture Marketplace is for entrepreneurial and development stage U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. Companies must meet a minimum $0.01 bid price test and may not be in bankruptcy.
About Blue Water Bar & Grill
Blue Water Bar & Grill, Inc. is a diversified developer of Caribbean casual dining restaurant and bar properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand. For more information, visit www.bluewaterbar.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Bar & Grill, Inc. (“Blue Water”) assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water’s filings with the Securities and Exchange Commission, including “Risk Factors” in its Annual Report filed on Form 10-K.