10 March 2022
Vital Metals Limited (ASX: VML l OTCQB: VTMXF) (“Vital”, “Vital Metals” or “the Company”) is pleased to announce that it has successfully applied for its common shares to be trading on the OTCQB Venture Market (OTCQB), a US trading platform operated by the OTC Markets Group in New York. The trading of the Company’s Shares on the OTCQB will commence Friday, 11 March 2022 (US time).
OTC is the largest Alternative Trading System in the US, with over 11,000 securities quoted on that market. Cross-trading to the OTCQB offers the Company the opportunity to build visibility, expand liquidity and diversify its shareholder base in North America on an established public market.
The Company’s primary listing remains on the Australian Securities Exchange (ASX). Streamlined market standards enable the Company to utilise its ASX reporting, with no additional compliance requirements, and make its information available in the US. The Company confirms that admission to the OTCQB is non-dilutive because no additional capital is required to be raised and no new Shares will be issued in conjunction with inclusion on the OTCQB.
The Company has also applied to the Depository Trust Company (“DTC”) for eligibility which would greatly simplify the process for North American investors trading the Company’s Shares. 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. 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.