CAPE TOWN (July 1, 2021) – Leatt Corporation (OTCQB: LEAT), a developer and marketer of protective equipment and ancillary products for many forms of sports, especially extreme high-velocity sports, announced today that the Depository Trust Company (“DTC”) has approved its common stock for DWAC/FAST transfers. This newly approved stock transfer capability will enable Leatt stockholders to transfer their shares of Leatt’s common stock electronically after buying or selling on the open market.
Leatt CEO, Sean Macdonald, said, “DWAC/FAST approval is a part of our overall investor relations commitment to our stockholders. Leatt stockholders will benefit from the approval, which we expect will reduce the expense and delay associated with the processing and transfer of physical share certificates, eliminate the inherent risks and costs associated with the loss and replacement of physical stock certificates, and result in higher liquidity for our stockholders due to the increased accessibility and availability of shares.”
DWAC allows participants to instruct DTC regarding deposit and withdrawal transactions being made directly via a FAST transfer agent. The FAST system eliminates the movement of physical share certificates for transfers of securities registered in the name of DTC’s nominee, Cede & Co., on the transfer agent’s books. DTC and its FAST transfer agents reconcile the results of participants’ deposit and withdrawal activities electronically on a daily basis.
About Leatt Corp.
Leatt Corporation develops personal protective equipment and ancillary products for all forms of sports, especially extreme motorsports. The Leatt-Brace® is an award-winning neck brace system considered the gold standard for neck protection for anyone wearing a crash helmet as a form of protection. It was designed for participants in extreme sports or riding motorcycles, bicycles, mountain bicycles, all-terrain vehicles, snowmobiles and other vehicles. For more information, visit www.leatt.com.
This press release may contain forward-looking statements regarding Leatt Corporation (the “Company”) within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the impact of the DWAC/FAST transfers on the liquidity of the Company’s stock; and the business strategy, plans and objectives of the Company and its subsidiaries. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “seeks,” “should,” “could,” “intends,” or “projects” or similar expressions, and involve known and unknown risks and uncertainties. These statements are based upon the Company’s current expectations and speak only as of the date hereof. Any indication of the merits of a claim does not necessarily mean the claim will prevail at trial or otherwise. Financial performance in one period does not necessarily mean continued or better performance in the future. The Company’s actual results in any endeavor may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, which factors or uncertainties may be beyond our ability to foresee or control. Other risk factors include those listed in other reports posted on The OTC Markets Group, Inc.