PERTH (miningweekly.com) - ASX- and TSX-listed copper developer Hot Chili will start share trading on the US-based OTCQX market on April 7, under the ticker HHLKF.
Hot Chili told shareholders on Thursday that the listing on the OTCQX would allow trading of the company’s securities in the local time zone for US investors and would appeal to investors and brokers who prefer securities that trade and settle during US trading hours.
Trades and settlements are conducted in US dollars with no exchange rate risk or additional foreign exchange fees.
“We are delighted to be moving up to OTCQX, as we deliver the next level of growth. An upgrade to OTCQX is a logical next step for Hot Chili. This designation is OTC Market’s top tier and a step towards greater liquidity and support to our active North American investor outreach,” said Hot Chili MD Christian Easterday.
The OTCQX market is designed for established, investor-focused US and international companies. To qualify, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
Hot Chili Ltd has upgraded to OTCQX from the OTCQB Venture Market where it has been trading since May last year. The company said that by upgrading to the OTCQX, Hot Chili is positioned to enhance its visibility and broaden its access to the extensive market of US retail, high net worth and institutional investors.