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Power Metal joins OTCQB Venture Market for US trading

11 April 2024 10:19

Power Metal Resources (AIM:POW, OTCQB:POWMD) has recently gained admission to trade its ordinary shares of 2 pence on the OTCQB Venture Market in the United States, with trading commencing immediately, under the symbol “POWMD”.

Transitioning back to “POWMF” on or around April 23rd, 2024, the London-listed exploration company will maintain trading on the AIM, providing updates for its UK-based investors through the London Stock Exchange’s regulatory news service.

Shareholder exposure

Admission to the OTCQB enhances Power’s international exposure, providing the company with opportunities to both harness new investors and better inform its current US-based shareholders.

The expansion enables Power to promptly share price-sensitive information about its global projects with US shareholders, potentially increasing liquidity through a broader pool of OTCQB investors, empowering US investors to make efficient and educated financial decisions.

Additionally, the OTCQB will facilitate US-based investors’ access to Power’s ordinary shares in US dollars, available during US market hours.

Company commentary

Power Metal Resources‘ Chief Executive, Sean Wade, outlined the importance of expanding the company’s investor base.

“I am very pleased to announce this major development in our relationship with the international capital markets. We have significant interest in our shares from North American investors, and the admission to trading on OTCQB will make it considerably easier for them to invest,” he said.

“We see this as an important step in expanding our investor base and by so doing, adding value to all our shareholders.”

POW’s AIM-listed share price is up 4.03% and is currently trading at 16.12 GBX (10:00 am UTC+ 8 hours).

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