Australian Vanadium Ltd (ASX:AVL) has had its listing on the United States of America Pink Market upgraded to the OTCQB market.
AVL trades under the code ATVVF in the US.
The upgrade gives AVL the opportunity to make more of its visibility in the US from both a share and project funding perspective.
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.
Tellingly for AVL, the upgrade opens its shares up to investors who were struggling to buy into the company.
“We have received a lot of interest from investors and potential investors in the US who were having difficulty purchasing AVL shares on the OTC Pink market," AVL managing director Vincent Algar said.
"This caused us to seek an upgrade to the OTCQB where investors will have more liquidity and easier access to share trading.
"We were delighted with the help we received from Viriathus Capital to navigate the process and look forward to welcoming more investors from the US onto our register.”
About the OTCQB
AVL began trading on the OTCQB market on October 4, 2022.
The OTCQB is operated by OTC Market Group, Inc. in New York, where more than 11,000 US and global securities are traded.
Upgrading to the OTCQB Market is an important step for companies looking to provide transparent trading for their US investors. The benefit of already being on the ASX, means streamlined market standards enable the use of home market reporting to make information available in the US.
To qualify for OTCQB, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
AVL’s primary listing remains on the ASX. However, trading advantages for US investors include trades and settlements being in US dollars; the ability to trade in the North American time zone and the OTCQB share being the same class of Ordinary Share to ASX traded stock, with the share registry being maintained by Automic Group in conjunction with a US Transfer Agent.