NORWALK, Conn.--(BUSINESS WIRE)--Tantalus Systems Holding Inc. (TSXV: GRID) (“Tantalus” or the “Company”), a smart grid technology company, celebrated the Company’s listing on the TSX Venture Exchange (“TSXV”) by virtually ringing the opening bell at the Toronto Stock Exchange at 9:30 a.m. ET today. The Company’s senior management, directors and other team members participated in the ceremony in recognition of the Company commencing trading on the TSXV on February 9, 2021 under the ticker symbol “GRID”.
“While our public listing represents a significant milestone for the Company, the purpose of Tantalus will not change, nor will our unwavering commitment to the public power and electric cooperative sector,” said Peter Londa, President & CEO of Tantalus. “Pivoting to the public markets will allow Tantalus to accelerate our product roadmap by expanding our R&D capabilities, to establish new strategic partnerships and to pursue targeted acquisitions — all of which will only strengthen our ability to deliver purpose-built solutions to meet the specific needs of our user community.”
As previously announced, the Company completed its ‘Qualifying Transaction’ on January 29, 2021 and continues to be led by its Board of Directors, with Ms. Laura Formusa as Chair, and the same management team that has been overseeing its operations and business over the past several years. In connection with the going public transaction, Tantalus upsized its concurrent financing and, in the aggregate, raised approximately CN$10 million from new and existing investors to bolster its financial position and strengthen its balance sheet as the Company looks towards the future and continues to scale the company as a valued partner to its user community.
“As we pursue this new path, we are reminded of and grateful for the hard work and perseverance of our entire team and the unyielding support of our growing user community - now including over 185 utilities. We remain committed to building purpose-driven solutions that enhance sustainability for utilities and communities across North America and the Caribbean Basin,” said Londa.
Learn more about the Company at www.tantalus.com.
About Tantalus Systems Holding Inc.
Over the past three decades, the Company, through Tantalus Systems Corp. and its subsidiaries and affiliates, has been consistently and creatively developing technology that enhances the safety, security, reliability and efficiency of public power and electric cooperative utilities across North America and the Caribbean Basin. Tantalus provides mission-critical smart grid solutions that include a market-leading edge computing platform, robust software applications and an advanced IoT communications network. By leveraging technology, Tantalus empowers its utility customers to access granular data from both legacy meters and cutting-edge two-way intelligent devices to improve customer service, facilitate consumer engagement, realize cost savings and streamline system operations. Tantalus’ comprehensive suite of smart grid solutions includes advanced metering infrastructure, demand-management technologies, data analytics, distribution automation and street lighting control systems - a broad portfolio built purposefully to support smart community initiatives essential to both the near-term and long-term success of the utilities Tantalus supports and the communities they serve.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. 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, the acceleration of the Company’s product roadmap by expanding its R&D capabilities, establishing new strategic partnerships, pursuing targeted acquisitions and the growth of the Company’s user community, 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 and financial effects 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 and Tantalus 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 new release is expressly qualified in its entirety by this cautionary statement.