LONDON - Great Western Mining Corporation PLC (AIM:GWMO, Euronext Growth: 8GW) has submitted an application to OTC Markets Group for its ordinary shares to be cross-traded on the OTCID market in the United States, according to a press release statement issued Monday.
The exploration and development company, which focuses on mineral projects in Nevada, said the move is part of its strategy to broaden its investor base and enhance visibility in North American capital markets.
The OTCID cross-trading facility would enable U.S. investors to access Great Western’s ordinary shares in U.S. dollars during U.S. market hours. The company said U.S. investors would receive the same level of information and disclosure available to shareholders in the United Kingdom through U.S.-facing platforms.
The OTCID Market does not require issuers to meet additional financial reporting and compliance standards. The company expects approval and admission to trading to take up to six weeks. Great Western’s ordinary shares will continue to trade on AIM and Euronext Growth.
"Subject to the necessary approval and admission process, trading on OTCID will open Great Western to a new and diverse pool of potential investors in the U.S. who are seeking exposure to metal development, including strategic metals such as tungsten," said Chairman Brian Hall.
Great Western Mining operates several claim groups in Mineral County, Nevada, with a focus on strategic minerals including tungsten. The company’s Huntoon Copper Project hosts a JORC-compliant resource of 4.3 million tonnes at 0.45% copper.
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