Namibia Critical Metals (TSX-V:NMI, OTCQB:NMREF) told investors that its common shares have been approved for trading on the OTCQB Venture Market under the symbol 'NMREF'.
The company explained that it had already established a degree of liquidity on OTC Markets through a Pinks quotation and the decision to commence trading through the higher‐profile OTCQB now enables it to engage a far greater network of North American investor, data and media partners, thereby significantly expanding the potential pool of investors in, and followers of, the company from the US and other jurisdictions.
Namibia Critical Metals shares will continue to trade on TSX-Venture under its existing symbol ‘NMI’ and trading on OTC is non‐dilutive to existing shareholders, the company said, adding that no capital is being raised and no new shares are being issued to enable trading on the OTCQB.
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"We are delighted to be able to provide US investors with enhanced access to the NCMI story through the OTC platform,” Namibia Critical Metals president Darrin Campbell said in a statement. “We have seen a significant increase in the number of US-based shareholders in NCMI over the last two years as the rare earth sector, in general, has grabbed the attention of investors worldwide.”
Highlights:
- OTC Markets is a well‐established trading platform in the US;
- The "QB" quotation significantly expands global access to investment in NCMI shares;
- US investors, in particular, will gain simpler, live‐market trading access to NMREF common shares; and
- The timing reflects increasing interest and awareness in the rare earth sector.
The company noted that OTCQB is a US trading platform operated by OTC Markets Group in New York. The OTCQB market, often referred to as a "QB" quotation, is structured to provide live‐market trading in early‐stage and developing companies that may hold primary listings in other markets.
Eligibility for OTCQB quotation requires a company to undergo an annual verification and management certification process, meet minimum standards of financial reporting and transparency, and pass other tests relating to the company's capital structure and share price.
Namibia Critical Metals is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium.
Contact the author at stephen.gunnion@proactiveinvestors.com