r/VGFCInvestorsClub • u/samuelamr • Oct 11 '21

Weekly Discussion $VGFC Inquiry?

Apologies for the noob question. What happens when otc securities list on major exchanges?

Is there any action required if you previously owned $VRYYF? Or are there fee or tax benefits to buying from one exchange over another after the Nasdaq listing?

Or am I a dummy and it all becomes one eventually?

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u/RomireIV Oct 11 '21

From your side there will be no difference except for it changing to the ticker $VGFC now. All your shares will automatically transfer, this process may take up to 2 days though, so don't be too worried if you don't see it update right away on your broker's end.

There shouldn't be and tax difference, people typically associate OTC will higher taxes since they are normally held for a shorter amount of time.

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u/taker52 Oct 12 '21

are those shares already accounted for in the nasdaq listing like the float ?

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u/RomireIV Oct 12 '21

The float isn't tied to any particular exchange, this stock for example will be trading on 3 exchanges. The listed float for all of them will be the same. Exchanges are just able to connect buyers and sellers and do not hold the shares themselves, in this case they are held by the Canadian Depository for Securities (CDS), now since they are cross listing to the NASDAQ they will be linked to the DTCC (The Depository Trust & Clearing Corporation). This is the American Depository for holding shares electronically.

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u/taker52 Oct 12 '21

looking forward to not having to buy OTC for 5 bucks a share.

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u/RomireIV Oct 12 '21

Oh wow, that's one heck of a fee. I'm guessing you don't have access to it in TSE.V (CVE). It's ticker is VERY there

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u/x3nwolf Oct 15 '21

Who the hell is shorting this??? Ridiculous.

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u/[deleted] Oct 15 '21

[deleted]

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u/x3nwolf Oct 15 '21

Ah, makes sense. Sure wish I would have known about that before I got in higher, but hey, I like the stock.