Trading on the US bourse under the ticker symbol of WRMCF will complement the existing ASX listing.
The company applied for an OTCQX cross-listing following strong interest from North American investors in the recent equity raising and the Red Mountain project in Alaska.
US listing is expected to enhance White Rock’s focus on the high-grade zinc-silver-gold-lead VMS and IRGS project at Red Mountain, which includes the Last Chance prospect.
The OTCQX listing is an important step in the growth aspirations for the company following the strong interest shown by North American investors in a recent equity raising and trading on the ASX.
This step is also a part of White Rock’s strategy to raise awareness about the company’s high-grade silver-zinc-gold-lead VMS and gold IRGS project, which could be of interest to North American investors.
Value and convenience
OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused US and international companies.
It provides value and convenience to the US investors, brokers and institutions seeking to trade WRMCF.
To be eligible for listing at OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with U.S. securities laws.
The bourse aims to provide current and potential North American investors with appropriate accessibility and liquidity to invest in the company.
Benefits for company
The OTCQX Market provides White Rock access to one of the largest investment markets in the world at a nominal cost, with no additional compliance requirements, compared to traditional major exchanges.
Existing ordinary shares of White Rock will be traded on the OTCQX Market and North American investors will be able to find real-time quotes and market information on the OTC market website.
Three key advantages for North American investors are:
- Trades and settlements are in US Dollars;
- Trading in the North American time zone; and
- The OTCQX share is the same class of Ordinary Share to ASX traded stock (ASX:WRM), not a synthetic - the shares are simply registered in two different registries.
Cross-trading will assist the North American investor to participate in the White Rock development especially as it progresses with exploration at its large IRGS gold anomaly at the Last Chance Prospect in Alaska.