Groovy Company, Formerly Known as Santo Mining Corp., Updates Status on OTC Markets and Next Steps

Santo Mining Corp., operating under the rebranded name Groovy Company, Inc., made an important announcement regarding its current status and future plans on January 8, 2025. The company issued a press release emphasizing its achievement of U.S. Reporting Company status on the OTC Markets, marking a significant milestone in its corporate journey.

The attainment of U.S. Reporting Company status represents a crucial step towards enhanced transparency and regulatory compliance for Groovy Company. This classification necessitates complete public disclosure and financial reporting, aligning the company with elevated standards of financial accountability. This development underscores Groovy’s commitment to transparency and collaboration with shareholders, regulatory bodies, and the wider investor community.

Having successfully secured this status, Groovy is now directing its focus towards the subsequent phase of its evolution, which involves filing Form 211 with the Financial Industry Regulatory Authority (FINRA) alongside a Broker-Dealer. This procedure is imperative for the company’s securities to be quoted on the USOTC Markets, transcending the Expert Market. Groovy anticipates that the Form 211 process could span between two to four months.

Frank Yglesias, the CEO of Groovy Company, commented on this progression, emphasizing its importance for the company. Yglesias elucidated, “We understand the scrutiny involved in operating within the public domain, and we are fully committed to complying with all regulations. We are confident that the Form 211 process will be successful and lead to Groovy’s entry into the US OTC market, as we set our goals to becoming OTCQB, by no later than Q3-2025.”

Groovy Company is dedicated to constructing a secure, transparent, and efficient ecosystem within the cannabis industry. The company’s innovative NFT-QR tag authentication and traceability platform, fueled by Groovy’s centralized blockchain technology, serves to empower various stakeholders, including growers, manufacturers, retailers, and consumers. For more information, interested parties can visit the company’s websites.

It’s worth noting that the forward-looking statements contained in the press release highlight Groovy’s management expectations, assumptions, and projections about future events or financial performance. These statements are subject to inherent risks and uncertainties that could result in actual outcomes differing from the expressed expectations. Investors are advised to thoroughly evaluate these factors before making any investment decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Santo Mining’s 8K filing here.

About Santo Mining

Santo Mining Corp., doing business as Santo Blockchain Labs, operates as a vertically integrated blockchain and cryptocurrency development company in Vietnam and the Republic of Panama. The company manages, operates, and develops end-to-end Blockchain-as-a-Service. It also develops smart digital contracts, non-fungible tokens, digital to physical assets tokenization, eXetended reality, and Internet of Things solutions.