Power Minerals (ASX:PNN) has begun trading on the OTCQB market in the US under the ticker ‘PEIMF’, representing the company’s intentions to develop its North American shareholder base.
The company began trading on 23 December after being approved by the stock exchange, while continuing the trade on the ASX as its primary listing and market.
Power Minerals says this opportunity to list on the OTCQB is the “first strategic step” towards potentially listing on NASDAQ in the future.
Managing Director Mena Habib says listing on the OTCQB exchange will provide the company with better access to the “world’s largest capital pool” while expanding visibility with North American investors.
“An OTCQB listing scales our presence in the US as we continue to explore and develop critical mineral projects in South America, including our Santa Anna and Salta projects,” Habib says.
“An integrated capital markets strategy, including our US listing, is aimed at helping deliver greater long-term value for our shareholders.”
As reported by Mining.com.au, Power Minerals began the process to list on the market in October, aligning with the company’s greater strategy to become a “globally recognised developer of heavy rare earths”.
The OTCQB is a mid-level market for smaller or new companies from the US and other countries.
Power Minerals is a critical minerals explorer and developer focused on advancing projects prospective for rare earths, niobium, and gallium in South America.
Write to Maddison Elliott at Mining.com.au
Images: Power Minerals
