Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) intends to file an application with OTC Markets Group in the US within the next two weeks to reinstate trading on the OTCQB.
The company’s application to reinstate trading on the OTCQB is subject to review and approval by OTC Markets Group.
Current listings maintained
Macarthur will maintain its current listings on the Australian Securities Exchange (ASX) and TSX Venture Exchange (CVE).
The company's ASX shares have surged more than 30% and are trading at 17 cents, double the close on April 23.
As part of the process, Macarthur’s Board of Directors has approved the appointment of Northland Capital Markets, a full-service investment bank headquartered in the US, to act as OTCQB sponsor and advisor to the company.
“Boost confidence” in strategy
President and executive chairman Cameron McCall said: “I am confident that Macarthur meets all of the reporting and management requirements to have its shares trading on the OTCQB market once again.
"Quotation on the OTCQB should boost confidence in our overall business strategy by allowing greater access of the company’s stock to US shareholders and it demonstrates our desire to build long-term shareholder value.”
Reinstating trading on the OTCQB will enable Macarthur to engage a far greater network of US investors, data distributors and media partners.
This will also ensure US investors have access to the same high-quality information that is available to investors in Australia and Canada, but through US platforms and portals used to conduct investment research.
McCall concluded: "We look forward to reaching a much larger audience of potential individual and institutional investors once the process is completed.”