American Rare Earths Limited announces that it has successfully applied for its common shares to be trading on the OTC Markets
American Rare Earths Limited (OTCQB:ARRNF)
PHOENIX, AZ, UNITED STATES, November 24, 2021 /EINPresswire.com/ — American Rare Earths Limited ("the Company") (ASX: ARR; OTCQB: ARRNF; FSE: 1BHA) announces that it has successfully applied for its common shares to be trading on the OTC Markets, "QB" level, a US trading platform operated by the OTC Markets Group in New York. The listing of the Company's common shares on the OTCQB was recently 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 increasing 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. Now it is possible for US and Canadian investors to participate with the company as it develops its US based rare earths mineral deposits.
As American Rare Earths continues to have its primary listing on the Australian Securities Exchange, streamlined market standards enable the Company to utilise 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.
Managing Director Chris Gibbs states, "As the Company's most advanced projects are in the US, providing American investors with 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. Chris Gibbs, Managing Director.
Western Rare Earths (WRE) is the wholly owned US subsidiary of American Rare Earths Limited (ASX: ARR; OTCQB: ARRNF) developing the advanced La Paz Rare Earth Project in Arizona, the Halleck Creek Rare Earth Project in Wyoming and the Searchlight Heavy REE project in Nevada. WRE, its US subsidiaries and projects are led by Marty Weems, President – North America. www.westernrareearths.com
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Investor Presentation for American Rare Earths Limited
Source: EIN Presswire