VANCOUVER, BC, April 15, 2025 /CNW/ - Light AI Inc. ("Light AI" or the "Company") (CBOE CA: ALGO / FSE: 0HC / OTCQB: OHCFF) a global healthcare technology company focused on developing artificial intelligence health diagnostic and wellness solutions, announces that it has qualified for trading on the OTCQB® Venture Market ("OTCQB") in the United States operated by the OTC Markets Group Inc. Effective on April 7, 2025, common shares of Light AI began trading on the OTCQB under the symbol "OHCFF" and continued to trade on the CBOE CA under the symbol "ALGO" and on the Frankfurt Stock Exchange under the symbol "0HC".
The OTCQB allows established international companies listed on a qualified foreign exchange to leverage their existing reporting standards and make disclosures available in the United States - utilizing the exemption from registration under Section 12(g) of the United State Securities Exchange Act of 1934, as amended (the "Exchange Act"), provided by Rule 12g3-2(b). Under Exchange Act Rule 12g3-2(b), international companies are exempt from SEC registration and reporting if they are a "foreign private issuer" (as defined in Exchange Act 3b-4) and make whatever information is required by their home market regulator publicly available to U.S. investors in English. To qualify for the OTCQB, companies must be current in their reporting obligations, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
The Depository Trust Company ("DTC") is a depository for securities and facilitates electronic settlement of transfers in the United States ("U.S."). The Company also announces that it has been granted DTC eligibility for the trading of its shares in the U.S. DTC eligibility will help enhance the Company's potential investor base and offer a more convenient trading experience for current and future shareholders.
"Accessing the OTCQB with DTC eligibility enables Light AI to expand its access to U.S. investors," said Peter Whitehead, CEO of Light AI. "Given the Company's global market opportunity, we believe cross-trading between CBOE, OTCQB and FSE will enhance liquidity and our commitment to delivering value for our shareholders."
For U.S. investors, current financial disclosure and Real-Time Level 2 quotes for the Company are accessible at www.otcmarkets.com.
Engagement of Investor Relations Service Provider
The Company also announces that it has engaged the investor relations services of Commodity Partners Inc. ("Commodity Partners") to provide capital markets and investor relations advisory service pursuant to an agreement dated February 14, 2025. In exchange for providing IR services to the Company, Commodity Partners will receive monthly payments up to an aggregate of CDN$120,000. The agreement is for a one-year term commencing on approximately February 14, 2025. Commodity Partners has an arm's length relationship with the Company.
About Light AI Inc. (CBOE CA: ALGO / FSE: 0HC / OTCQB: OHCFF)
Light AI Inc. is a healthcare Company focused on developing artificial intelligence health diagnostic solutions. Light AI is developing a technology platform which represents the next generation of patient management: it applies AI algorithms to smartphone images—starting with images of Strep A—to identify the disease in seconds. Its patented, app-based solution requires no swabs, lab tests or proprietary hardware of any kind—its hardware platform is the 4.5B smartphones that exist in the world today. Light AI is at the forefront of developing innovative diagnostic solutions aimed at improving healthcare delivery worldwide. Their cutting-edge AI powered technology offers rapid, accurate, and cost-effective diagnostic tools designed to address critical healthcare challenges.
In pre-FDA validation studies, Light AI's algorithm demonstrated remarkable accuracy in differentiating between viral and bacterial pharyngitis, specifically targeting Group A Streptococcus (GAS). The algorithm achieved a 96.57% accuracy rate and attained a Negative Predictive Value of 100%, indicating its high reliability in confirming the absence of Streptococcus A infection. Viral and GAS pharyngitis affects over 600 million people annually worldwide. If left untreated, GAS pharyngitis can lead to serious complications such as Rheumatic Heart Disease (RHD), which imposes a global economic burden exceeding $1 trillion annually. Light AI's technology offers a significant advancement in the accurate and timely diagnosis of GAS pharyngitis, potentially reducing the incidence of RHD and its associated costs. Light AI's approach to applying AI to smartphone images can be expanded to other throat conditions, as well as other areas of analysis, such as the human eye and skin. Light AI's vision is to combine the smartphone with AI in-the-Cloud to create a Digital Clinical Lab that provides quick and accessible diagnosis for countless conditions that today require expensive and time-consuming imaging or lab processes.
This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, trading access for U.S. investors, enhancing equity liquidity, delivering long-term value to our shareholders, the engagement of an investor relations service provider and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release. For a list of the factors that may affect any of the Company's forward-looking statements, please refer to the Company's annual information form dated April 14, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under its SEDAR+ profile at www.sedarplus.ca). Light AI disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement.
