QUANTITATIVE ALPHA TRADING INC. ANNOUNCES FILING OF TSX-V LISTING
APPLICATION AND APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
November 29, 2011 (Toronto) – Quantitative Alpha Trading Inc. (CNSX: QAT)(OTCQB: QATSF) (the “Company” or “QAT”) is pleased to announce that it has filed an application for listing of the Company’s common shares on the TSX Venture Exchange, with Canaccord Genuity Corp. agreeing to act as sponsor. The application remains subject to approval by the Exchange.
“This is another important step forward for the Company”, said Chair, Todd Halpern. “As we continue to develop our proprietary trading software solutions, we also look forward to expanded coverage of QAT’s activities and enhanced liquidity for QAT’s investors. The opportunity to move the company to the TSX Venture Exchange is one which we are keen to pursue for the benefit of all stakeholders.”
At the same time, the Company announced today that Mr. Enrico Visentini will be joining as Chief Financial Officer effective January 1, 2012. An accomplished senior financial executive, Mr. Visentini is an MBA graduate of the Richard Ivey School of Business at the University of Western Ontario. He also has earned his CA and CFA designations.
According to Mr. Jim McGovern, Chief Executive Officer: “We look forward to capitalizing on Mr. Visentini’s strong background and experience in finance, accounting and operations, including in the field of human resources management, as we move forward as part of our growth and roll-out plans with a fully internalized accounting and finance function at QAT. Enrico’s public company accounting experience will prove invaluable including not only his knowledge of US GAAP and IFRS accounting standards but also his experience in the preparation of prospectuses, AIF’s, 20-F’s, management circulars and other legal and statutory filings.”
“I am really pleased to be joining a company which has such a strong technology platform, supported by strong leadership” said Mr. Visentini, who will be assisting the Company in a consulting capacity through a transition period until his formal start date.
Mr. McGovern also expressed the Company’s gratitude to John Doma of Bateman MacKay LLP for his outstanding service as acting Chief Financial Officer pending this appointment.
About QAT
For more than a decade, QAT’s Chief Technology Officer has been researching, developing and maintaining proprietary algorithmic securities trading systems that operate across numerous financial markets. Relying on behavioural science patterns, the Company’s proprietary systems use a linked series of computer programs to analyze securities market data in real-time and directly execute buy or sell orders over the electronic securities exchanges while monitoring the status of every trade within a given portfolio without human intervention.
The Company trades on CNSX under the symbol QAT and in the United States on the OTCQB under the symbol QATSF.
For further information:
Contact: Jim McGovern, Chief Executive Officer, QAT - 1-416-323-0477, jim@qatinc.com
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Forward-Looking Statements Advisory
Certain information included in this press release constitutes forward-looking statements and informationand future-oriented financial information under applicable securities legislation and is provided for thepurpose of expressing management’s current expectations and plans for the future. Readers arecautioned that reliance on such information may not be appropriate for other purposes, such as makinginvestment decisions.
More particularly, this press release contains statements concerning QAT’s anticipated: businessdevelopment strategy, customer orders, product deliveries, sales, revenue and revenue growth. Theforward-looking statements are based on a number of key expectations and assumptions made by QAT,including expectations and assumptions concerning achievement of current timetables for development programs and sales, target market acceptance of QAT's products, current and new product performance,availability and cost of labor and expertise. Although QAT believes that the expectations and assumptionsused to develop the forward-looking statements are reasonable, undue reliance should not be placed onthe forward-looking statements because QAT can give no assurance that they will prove to be correct.Since forward-looking statements address future events and conditions, by their very nature they involvenumerous risks and uncertainties that contribute to the possibility that the projections and forecasts in theforward-looking statements will not occur and that actualactual performance or results could differ materiallyfrom those anticipated in the forward-looking statements. These risks and uncertainties include, but arenot limited to, the risks associated with QAT's stage of development, history of losses and lack ofhistorical product revenues, uncertainty as to product development and sales milestones being met,product defect and performance risks, competition for capital and market share, uncertainty as to targetmarkets, dependencedependence upon third parties, uncertainty as to patent and proprietary rights, availability andretention of management and key personnel, exchange rate and currency fluctuations, uncertaintiesrelating topotential delays orchanges in plans with respecttoproductdevelopment or capitalexpenditures and thethe ability of QAT to access sufficient capital on acceptable terms. This is not anexhaustive list and additional information on these risks and other factors that could affect QAT’soperations and financial results are included in reports on file with the Canadian securities regulatoryauthorities and can be accessed through the SEDAR website atwww.sedar.com.
The forward-looking statements contained in this press release are made as of the date hereof and QATundertakes no obligation to update publicly oror revise any forward-looking statements or information,whether as a result of new information, future events or otherwise, unless so required by applicablesecurities laws.
Additionally, QAT undertakes no obligation to comment on the expectations of, or statements made by,third parties about QAT.
Neither the CNSX nor the TSX Venture Exchange has reviewed or accepts responsibility for the adequacyor accuracy of the content of this news release.
