There are many options for investors who are looking into tech companies at this point, and one of those could be Voxtur Analytics Group (OTC:VXTRF), in light of the announcement from the company on April 19. The company, which is involved in the creation of an accessible and transparent real estate lending ecosystem, was in the news cycle this past Friday when it announced that it had engaged the services of ICP Securities Inc. As per the provisions of the agreement, ICP Securities would be responsible for providing automated market-making services, which would also include ICP Premium and proprietary algorithms, in compliance with the guidelines of the TSX Venture Exchange.
ICP would be paid a fee of C$7500 plus relevant taxes per month for its services, and the fee would be paid in advance each month. In the news release, it was noted that the agreement had been initially signed for a period of four months and would be renewed automatically for a period of one month. Either party could provide a written prior notice of a minimum of 30 days in order to cancel the deal. The agreement does not have any performance-related elements, and no stock options or other forms of compensation are being granted by Voxtur Analytics Group in connection with the engagement of ICP.
However, ICP and its clients would have the option of acquiring securities in the company in the future. It was also noted that ICP was an arm’s length entity with respect to Voxtur Analytics Group. The market making activities from ICP would mainly help with the correction of temporary imbalances in the demand and supply of the Voxtur Analytics Group shares. ICP would take responsibility for the costs involved in the buying and selling of the company’s shares, but no third party would be involved.
