Cryo-Cell Joins OTC Market Group's Highest Tier
Strategic Move to OTCQX U.S. Premier Distinguishes Company and Potentially Positions Cryo-Cell for Future Listing on a National Stock Exchange
OLDSMAR, Fla., April 26, 2011 (GLOBE NEWSWIRE) -- Cryo-Cell International, Inc. (OTCQX:CCEL) (the "Company"), one of the world's largest and most established family cord blood banks and global industry leader of innovative stem cell solutions, today announced that the Company is now trading on the OTC Market Group Inc.'s highest tier, OTCQX U.S. Premier. Many U.S. companies join OTCQX as the final step toward a NASDAQ or NYSE listing.
OTCQX distinguishes the best companies traded over-the-counter (OTC) from more than 10,000 securities traded on the OTCBB and OTC Link that are not required to meet any financial standards or undergo a qualitative review. Designed to identify issuers that are of the size and quality to list on a National Stock Exchange, companies that meet the financial requirements of NASDAQ's Capital Market Continued Listing Standards may be eligible for the higher OTCQX® U.S. Premier Tier.
"The Company believes that our strategic move to OTCQX distinguishes Cryo-Cell amongst the best companies traded OTC and potentially positions the Company for future listing on a National Stock Exchange," stated Mercedes A. Walton, Cryo-Cell's Chairman and Chief Executive Officer. "Trading on OTCQX also provides Cryo-Cell with an effective method of providing the investment community with the accessibility, transparency and liquidity necessary for shareholders to feel comfortable when making an investment decision."
Shumaker, Loop & Kendrick, LLP, will serve as the Designated Advisor for Disclosure (DAD) for Cryo-Cell International as it joins OTCQX, and will be responsible for providing guidance to the Company on OTCQX requirements.
The OTC equities market in the U.S. has seen rapid changes over the past few years that have made OTC trading more transparent and efficient. OTC Markets Group, Inc. (OTC Markets) has been the leader in using technology to bring positive changes to the OTC marketplace for the benefit of investors, as well as broker-dealers and OTC-traded companies. OTC Markets' electronic interdealer quotation and trading system (OTC Link) has become one of the leading OTC quotation platforms in the U.S. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity-trading venue, after NASDAQ and the NYSE.
About OTC Markets Group, Inc.
OTC Markets Group Inc. (OTCQX:OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity-trading venue, after NASDAQ and the NYSE. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies), and OTC Pink (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group, Inc. makes the unlisted markets more transparent, informed and efficient, visit www.otcmarkets.com.
About Cryo-Cell International, Inc.
Based in Oldsmar, Florida, with over 230,000 clients worldwide, Cryo-Cell is one of the largest and most established family cord blood banks. ISO 9001:2008 certified and accredited by the AABB, Cryo-Cell operates in a state-of-the-art Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)-compliant facility. In November 2007, the Company launched CélleSM (pronounced "C-L"), the world's first-ever commercial service allowing women to cryopreserve their own menstrual stem cells. Cryo-Cell is a publicly traded company. OTCQX Symbol: CCEL. Expectant parents or healthcare professionals may call 1-800-STOR-CELL (1-800-786-7235) or visit www.cryo-cell.com.
The CélleSM service was introduced in November 2007 as the first and only service that empowers women to collect and cryopreserve menstrual flow containing undifferentiated adult stem cells for future utilization by the donor or possibly their first-degree relatives in a manner similar to umbilical cord blood stem cells. For more information, visit www.celle.com.
Statements wherein the terms "believes", "intends", "projects", "anticipates", "expects", and similar expressions as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include any actual increase in liquidity to investors as a result of trading on OTCQX U.S. Premier, the ability to qualify for listing on a national stock exchange in the future and those risks and uncertainties contained in risk factors described in documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K filed by the Company. The Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements.
CONTACT: Julia Avery (Investors) Investor Relations 212-362-1200 firstname.lastname@example.org Irene Smith (Media Inquiries) Cryo-Cell International, Inc. 813-749-2100 email@example.comSource: Cryo-Cell International, Inc.
Released April 26, 2011