Nomad Royalty (TSX:NSR) Company Ltd has announced a big leap in its growth journey, saying its shares had now been approved to be listed on the New York Stock Exchange (NYSE) - the world's largest stock market by market cap.
The royalty and streaming group said it expects its stock to start changing hands on the index under the ticker symbol 'NSR' by late August or early September this year.
"Listing on the NYSE represents a significant milestone in the growth of the company," said Nomad's CEO Vincent Metcalfe in a statement.
READ: Nomad Royalty Company boosts royalty on producing Caserones copper mine in Chile
"The listing will materially increase Nomad's exposure to a larger and more diverse group of institutional and retail investors as we continue to grow our portfolio of precious metals royalties and streams.
"We strongly believe the listing will improve trading liquidity and expand our globally diverse shareholder base."
When trading begins on the NYSE, the company's shares will cease to be listed on the OTCQX.
"While shareholders are not required to take any action, Nomad recommends that holders who bought their common shares on the OTCQX monitor their institution/brokerage account to ensure their holdings are correctly reflected in respect of the listing on the NYSE," it said in the statement.
Nomad Royalty (TSX:NSR) owns a portfolio of 15 royalty and stream assets, of which eight are on currently producing mines.
On August 19 this year, the company said it had boosted its royalty on the producing Caserones copper mine in Chile for US$27.25 million in cash.
The Montreal-based company said it had entered into an agreement with private vendors to acquire an effective 0.351% net smelter return (NSR) royalty on the operation, which is located in the prolific Atacama region. The acquisition was in addition to the effective 0.28% NSR royalty on Caserones that Nomad had purchased in May 2021.
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