LithiumBank Resources Corp (TSX-V:LBNK) has announced that its shares have commenced trading on the OTCQX Best Market, an over-the-counter public market in the United States, under the ticker symbol LBNKF.
The company said it will continue to trade on TSX Venture Exchange (TSXV) in Canada as its primary listing under the ticker symbol LBNK.
LithiumBank CEO Rob Shewchuk said the company believes trading on the OTCQX Market will increase its visibility and accessibility to current and potential investors in the United States as LithiumBank continues to advance its exploration and development of its lithium projects in Western Canada.
READ: LithiumBank Resources finds above average lithium grades in four wells at Boardwalk Brine Project in Alberta
“We also look forward to seeing the results of our Preliminary Economic Assessment currently underway with Hatch Ltd on our flagship Boardwalk project at Sturgeon Lake, Alberta in the coming quarter," Shewchuk said.
“We believe that trading on OTCQX will also improve our market information, transparency, liquidity and ease of trading in the company’s securities, and will be a benefit to all of our shareholders as we present our corporate developments at Boardwalk and other projects in our portfolio of over 3.2 million acres over the balance of 2022 and into 2023."
LithiumBank also announced that, subject to regulatory approval, it has engaged Independent Trading Group Inc to provide services as a market maker in accordance with the policies of the TSXV.
It is expected that ITG will trade shares of the company on the TSXV and other trading venues with the objective of maintaining an orderly market and improving the liquidity of LithiumBank’s shares.
Per the agreement, LithiumBank will pay ITG a fee of C$7,000 per month for an initial term of three months. ITG will not receive shares or options as compensation, however, ITG and its clients may have or may acquire a direct interest in the securities of the company, LithiumBank said.
LithiumBank is focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid direct lithium extraction technology can be deployed.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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