Meteoric Resources (ASX:MEI) has announced it will begin trading on the US OTCQB Venture Market at market open today under the ticker METOF.
The secondary listing will allow US and Brazilian investors to trade Meteoric’s ordinary shares in US dollars during American market hours.
Meteoric says the listing provides a more cost-effective alternative for US-based investors than trading through the Australian Securities Exchange (ASX) and supports its investor engagement activities in North America.
No new ordinary shares have been issued in connection with the listing, and trading of Meteoric’s existing shares on the ASX will be unaffected.
The company notes it will continue to make announcements and disclosures through the ASX in accordance with its market operating rules and listing rule obligations.
Meteoric says the secondary listing reflects its commitment to addressing US investor interest in critical minerals. The OTCQB platform also connects listed companies with US capital markets, data providers, and media organisations.
The US Securities and Exchange Commission recognises the OTCQB as an established public market. Companies trading on the market must maintain current financial reporting, meet a minimum bid price, and complete annual verification and management certification processes.
Meteoric is advancing the Caldeira Rare Earth Project in Minas Gerais, Brazil. The company released a Definitive Feasibility Study for the project on 31 July and says development approvals are well advanced as it progresses offtake and financing discussions.
Meteoric Resources is an Australian rare earth elements developer focused on advancing Caldeira towards production.
Write to France Pinzon at Mining.com.au
Images: Meteoric Resources
