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Theta Gold Mines can now be traded in US Dollars following DTC eligibility approval

DTC eligibility is expected to simplify the process of trading and enhance liquidity of the company's shares.

Theta Gold Mines Ltd - Theta Gold Mines ready to trade in USD following DTC eligibility approval
The company can now trade TGMGF stock in US Dollars

Theta Gold Mines Ltd's (ASX:TGM) (OTCMKTS:TGMGF) OTCQB-listed shares are now eligible for electronic clearing and settlement through The Depository Trust Company (DTC) in the United States after DTC eligibility was approved.

DTC is a subsidiary of The Depository Trust & Clearing Corporation, part of the US Federal Reserve System that manages the electronic clearing and settlement of publicly-traded companies.

Attaining DTC eligibility is expected to simplify the process of trading and enhance liquidity of the company's shares on the OTCQB by greatly broadening the pool of brokerage firms that will allow their clients to trade the stock.

“Stock can be traded in USD”

Theta Gold chairman Bill Guy said the company was extremely pleased that it had obtained DTC eligibility.

“This means the company's stock can now be traded in USD for those who wish to do so in the American time zone.

“We would like to thank our DTC filing agent Glendale Securities, our transfer agent Dynamic Stock Transfer, our OTC Sponsor BRiley FBR and our legal advisor Lucosky Brookman for their efforts."

The three key advantages of trading TGMGF stock are:

  • Trades and settlements are in US Dollars (USD);
  • Trading occurs in the North American timezone; and
  • TGMGF is the same class Ordinary Shares to ASX traded stock (ASX:TGM), not a synthetic - the shares are simply registered in two different registries.

Trading halt

As of today, the securities of Theta Gold are in a trading halt pending the release of an announcement regarding a capital raising.

The securities will remain halted until the earlier of the start of normal ASX trading on Friday, July 17, 2020, or when the announcement is released to the market.

Shares on ASX last traded at A$0.31 and are up from A$0.205 on June 12.

Quick facts: Theta Gold Mines Ltd

Price: 0.265 AUD

ASX:TGM
Market: ASX
Market Cap: $120.42 m
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