In a Non-Dilutive Cross Listing, ASX traded, American Rare Earths Limited (OTCQB: ARRNF), becomes available to US Investors with its US flagship project
American Rare Earths Limited (OTCQB:ARRNF)
NEW YORK, NY, UNITED STATES, October 26, 2021 /EINPresswire.com/ — American Rare Earths Limited (“Company”) (ASX: ARR; OTCQB: ARRNF; FSE: 1BHA) announces that it has successfully applied and received approval for its common shares to be trading on the OTC Markets, “QB” level, a U.S. trading platform operated by the OTC Markets Group in New York. The listing of the Company's common shares on the OTCQB has been approved by the Financial Industry Regulatory Authority (FINRA). The Company will also apply to the Depository Trust Company (“DTC”) for DTC eligibility which would greatly simplify the process for North American investors trading the Company’s common shares.
Due to growing international demand for equity in the Company, Canaccord Genuity successfully executed proceedings to make a market in the Company’s securities which now trade on the OTC Markets Group platform. OTC is the largest Alternative Trading System in the US, with over 11,000 securities quoted on that market. Cross listing to the OTCQB offers the Company the opportunity to build visibility, expand liquidity and diversify its shareholder base in the US on an established public market.
As American Rare Earths continues to have its primary listing on the Australian Securities Exchange, streamlined market standards enable the Company to utilize its ASX reporting and make its information available in the US. The Company confirms that admission to the OTCQB is non-dilutive because no additional capital is required to be raised and no new shares will be issued in conjunction with inclusion on the OTCQB. This listing complements its previous cross-listing to the Frankfurt Stock Exchange (FSE: 1BHA).
Managing Director, Keith Middleton states, “As the Company’s most advanced projects are in the US, giving American investors the opportunity to participate was a logical step. Doing it in a non-dilutive manner only adds liquidity and strength to the positions of our existing shareholders.”
Andrew Reilly and the team at Rimon Law acted as the Company’s sponsor. Investors can find quotes and market information for the Company, at https://www.otcmarkets.com/stock/ARRNF/overview.
This ASX announcement was approved and authorised by Mr. Keith Middleton, Managing Director.
This release has been prepared by American Rare Earths Limited (ARBN 003 453 503) (ARR or the Company) and contains information about ARR and its subsidiaries (Company Group or ARR Group) and their activities current as at the date of this release. The information herein is of general background and does not purport to be complete or to comprise all the information that a shareholder or potential investor may require in order to determine whether to deal in Company shares. It should be read in conjunction with the Company group’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au.
Not investment or financial product advice
This release is for information purposes only and is not financial product or investment advice or a recommendation to acquire Company shares and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek financial, legal and taxation advice appropriate to their jurisdiction. ARR is not licensed to provide financial product advice in respect of ARR shares.
Forward Looking Statements
This release contains certain “forward-looking statements”. The words “expect”, “should”, “could”, “may”, “will, “predict”, “plan”, “scenario”, “forecasts”, “anticipates” “estimates” and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Such forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements.
Investment risk and other risks
An investment in Company shares is subject to investment and other known and unknown risks, some of which are beyond the control of the Company group, including risk factors associated with the industry in which the Company group operates, such as: nature of mineral exploration and production; mineral and ore reserves; operations risks; project development risks; market price and demand risk; credit and market risks; regulatory, political and environmental risks; tax and other risks generally relating to equity investment.
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Source: EIN Presswire