Bradda Head Lithium Ltd. (AIM: BHL), the North America-focused lithium development group, announces that the Company’s ordinary shares will cross-trade publicly on the US OTCQB Market (“OTCQB”), under the ticker BHLIF, with effect from market open in the US today.
Trading on the US OTCQB market will have no impact on the Company’s existing ordinary shares trading on AIM, a market operated by the London Stock Exchange. No new ordinary shares were issued as part of the cross-trade. The Group will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Channel and has no Sarbanes-Oxley or SEC reporting requirements.
The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world’s largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Independent studies show that trading on the OTC by an international company offers a positive effect on the liquidity of its shares.
Charles FitzRoy, CEO of Bradda Head Lithium, commented:
“The Company is seeking to encourage the significant interest that our Arizona projects have generated internationally with the commencement of trading of our shares on the OTCQB. The US has significant interest in lithium as a commodity and we hope that the visibility we gain will further broaden our shareholder base and increase shareholder demand in one of the major lithium markets of the world.”
“Bradda finished 2021 in a great position with $9.9m in the treasury from the royalty transaction with LRC as well as our 2021 IPO funds and has started 2022 strongly. Cross-listing on the OTCQB will enable North American investors to trade our AIM listed shares gaining exposure to this North American lithium opportunity.”
“We will be announcing the resource upgrade at Basin East in Q1 where we already have a JORC resource of 185kt of LCE as well as our maiden resource from Wikieup in Q2, where we are drilling currently. Other newsflow to watch out for in 2022 is related to the planned drilling programme at San Domingo and geophysics results at Eureka. Exciting times ahead for Bradda Head which we look forward to updating all our shareholders on.”
