BOISE, Idaho, June 01, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Correlate Infrastructure Partners Inc. (OTCQB: CIPI) (“Correlate” or the “Company”), a technology-enabled energy optimization and clean energy solutions provider for the U.S. commercial real estate industry, is pleased to announce it has begun the application process for uplisting to the Nasdaq Exchange from the OTCQB. Correlate continues to execute its publicly announced acquisition strategy, which it believes will help qualify the Company to meet Nasdaq’s listing criteria. This is Correlate Infrastructure Partners’ first step in its pursuit to reach the Nasdaq Exchange and remains subject to the review and approval of the initial listing application and the satisfaction of all applicable listing and regulatory requirements.
The Company believes the move to Nasdaq will provide enhanced investor benefits, including higher reporting standards, greater access to analyst coverage and news services, and more comprehensive compliance requirements. Because the Nasdaq dramatically increases transparency, reporting standards, management certification and compliance requirements to meet investor-driven ESG mandates, most broker-dealers trade securities listed on the Nasdaq. Historically, companies that have made the move up to the Nasdaq market have experienced increased investor awareness as well as greater liquidity and visibility of their securities.
Todd Michaels, CEO and Correlate president, notes, “Uplisting to the Nasdaq will be a significant milestone in the growth of Correlate Infrastructure Partners as a company and we expect the uplist to enhance our visibility in the investment community, increase trading liquidity, open the Company to institutional investors and broaden our shareholder base. As previously stated, we intend to uplist to the Nasdaq in connection with an acquisition that is accretive and will accelerate our meeting the Nasdaq listing requirements.”
Correlate Infrastructure Partners CFO Channing Chen added, “We are committed to providing investors with high-quality trading and improved market visibility and are excited to showcase our achievements to a growing base of U.S. and international investors. We look forward to leveraging this momentum as we remain focused on building Correlate as a leading provider of energy optimization and clean energy solutions for the commercial real estate industry.”
About Correlate Infrastructure Partners Inc.
Correlate is a portfolio-scale development and finance platform offering commercial and industrial facilities access to clean electrification solutions focused on locally sited solar, energy storage, EV infrastructure and intelligent efficiency measures. Its unique data-driven approach is powered by proprietary analytics, management services, and a highly scalable national fulfillment network to help building owners profit from fully funded, turnkey decarbonization and facility health programs.
The Correlate website is located at https://www.correlateinfra.com/.
This news release may include “forward-looking statements” regarding Correlate Infrastructure Partners Inc. and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Correlate Infrastructure Partners Inc. expresses or implies an expectation or belief about future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Correlate Infrastructure Partners Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.