Proactive Investors - Trident Royalties PLC (LON:TRR) has announced that its ordinary shares have been approved to trade on the OTCQX Market in the US and will commence trading at the market open today, 5 April 2023, under the ticker symbol TDTRF.
The diversified mining royalty company said cross-trading of Trident's ordinary shares on the OTCQX will provide enhanced investor benefits, including easier trading access for investors located in the US, and greater liquidity due to a broader geographic pool of potential investors.
In a statement, Adam Davidson, chief executive officer of Trident, commented: "Trading on OTCQX opens Trident to a new pool of potential investors in the US with an appetite for exposure to a diverse mix of commodities - an offering quite different to the traditional mining royalty companies that have dominated the North American markets to date.
"This is particularly timely given the recent developments at the Thacker Pass Lithium Project in Nevada, being a key asset within Trident's portfolio, as well as developments at Trident's North American gold offtake assets. The quotation supports our vision of Trident being the leading royalty company for global investors to obtain exposure to a diversified portfolio of mining commodities."
Through trading on the OTCQX, the company will be able to engage with a network of US investors, ensuring that they have the same level of information and disclosure available to investors in the United Kingdom, but through US-facing platforms and portals. In addition, the OTCQX cross-trading facility will provide US-based investors with the ability to access Trident's ordinary shares in US dollars during US market hours.
The ability to trade in the company's existing ordinary shares on London's AIM will not be affected by having the OTCQX listing and no new ordinary shares have been issued. Trident's OTC Sponsor and market maker is Stifel, Nicolaus & Company.
OTCQX is run by OTC Markets Group Inc. (OTCQX:OTCM), the operator of regulated markets for 12,000 US and international securities, and is considered the premier tier of the OTC Market. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process. As a verified market with efficient access to US investors, OTCQX supports companies as they look to build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.