Fireweed Zinc Ltd (TSX-V:FWZ) announced that it has applied to have its shares listed for trading on the OTCQB market and full eligibility through the Depository Trust Company (DTC) for electronic settlement and clearing of its common shares in the US.
If it receives the approval of the OTCQB and the DTC, the company said it will continue to trade on Canada’s TSX Venture Exchange after the OTCQB listing.
Fireweed noted that the OTCQB, operated by the OTC Markets Group in New York, is the premier marketplace for early-stage and developing US and international companies.
READ: Fireweed Zinc announces positive results from the first drill hole at Boundary West for the 2021 Macmillan Pass zinc-lead-silver project drill program
Participating companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors with improved visibility to enhance trading decisions.
"We have had significant interest expressed from US-based investors and listing on the OTCQB will provide institutional and retail investors with easier access to trade in our shares,” CEO Brandon Macdonald said in a statement.
“This new listing will also assist existing US shareholders who have purchased our shares through the OTC Grey Market as it will address new requirements of pending SEC rules for trading in the US while also enhancing our liquidity."
Fireweed Zinc is a public mineral exploration company focused on zinc-lead-silver and managed by a veteran team of mining industry professionals. The company is advancing its district-scale 940 square kilometre Macmillan Pass project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits, as well as the Boundary Zone, Tom North Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources.
The project also includes large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump) which cover exploration targets in the district where previous and recent work identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host geology.
Contact the author at stephen.gunnion@proactiveinvestors.com