Tickers: XTSX:BEAN, PINX:PBBSF
Tags: Children, Fashion & Apparel, Manufacturing
May 17, 2018 / TheNewswire / VANCOUVER, BC – Peekaboo Beans Inc ("Peekaboo Beans" or the "Company") (TSXV: BEAN) (OTCQB: PBBSF) is pleased to announce that commencing May 17, 2018 its common shares will be listed for trading on the OTCQB under the trading symbol PBBSF.
Peekaboo Beans Founder, President and CEO, Traci Costa, commented "We are very excited to provide this platform to our existing and prospective US shareholders. The OTCQB allows for greater exposure and accessibility to US investors as the Company continues to build on its US expansion, stylist recruitment and sales growth.
The United States represents a major growth opportunity for Peekaboo Beans. Data from the Direct Selling Association showed a record 20.5 million people were involved in direct selling in the United States in 2016, a 1.5% increase from the prior year. The direct sales industry in the US has grown from $ 29B in sales in 2011 to over $ 35.5B in 2016, corresponding to a 5% CAGR and quantifying the emergence of the direct sales model relative to traditional retail channels.
Peekaboo Beans is a Canadian public company with a majority female Board of Directors producing high-quality, ethically-manufactured children’s apparel. Peekaboo Beans is sold exclusively through its direct-sales network of Stylists or independent sales representatives. In line with its mission, Peekaboo Beans develops custom fabrics and designs its apparel to promote play in children’s lives. Through the direct-sales model, Peekaboo Beans trains women to be entrepreneurs, build a business and generate income on their own terms.
On behalf of the Board of Directors,
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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