Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) shares will begin trading on the US OTCQB Market on Monday, offering investors a third exchange from which to buy the stock.
Andrada already trades on London’s Alternative Investment Market (AIM) and the Namibian stock exchange, with the third listing opening the door for new broker deals in the US.
"Admission to the OTCQB Market is a key step in Andrada's strategy to broaden the company's investor base,” chief executive Anthony Viljoen commented.
“This investor base is known for its understanding of, and strong appetite, for mining companies, particularly in lithium equities.”
Andrada also confirmed the execution of contractual documentation for a US$5.5mln senior secured debt facility with the Development Bank of Namibia, saying the deal should be completed in late June.
A US$25mln funding facility with Orion Global Resource remains subject to an inter-creditor agreement with the firm’s senior lenders meanwhile, Andrada added.
“Andrada will start marketing and outreach efforts to US-based investors in the coming months to increase awareness of our significant near-term lithium project,” Viljoen added, referencing the company’s flagship Uis mine in Namibia.