Commences OTC Cross Listing Process
Ballarat, Aug 25, 2020 AEST (ABN Newswire) - White Rock Minerals Ltd (
ASX:WRM) wishes to advise that it has applied for an OTCQX Cross Listing of its securities in North America. The OTCQX is the top tier of the three marketplaces provided by the OTC Markets Group Inc ("OTC"), headquartered in New York, for the over-the-counter trading of stocks.
This listing follows on from the significant interest shown by North American Investors in White Rock's recent equity raising1 and trading on the ASX since. This is part of White Rock's strategy of raising awareness of the Company's high-grade zinc - silver - gold - lead VMS and gold IRGS project at Red Mountain in central Alaska, USA, of natural interest to many North American investors.
This cross listing will allow easier access for North American Investors to trade in White Rock's securities listed on the Australian Stock Exchange (ASX) under the codes of WRM (shares) and WRMO (options).
The OTCQX market has high financial reporting standards and strong corporate governance requirements, both of which are satisfied through the Company's ongoing compliance with ASX listing rules.
The OTCQX listing aims to provide current and potential North American investors with appropriate accessibility and liquidity to invest in the Company. The listing provides White Rock access to one of the largest investment markets in the world at nominal cost, with no additional compliance requirements, compared to traditional major exchanges.
Existing ordinary shares of White Rock will be traded on the OTCQX Market and North American investors will be able to find real-time quotes and market information on the OTC Markets website once the Company is cross-listed there.
Three key advantages for North American investors are:
1) Trades and settlements are in US Dollars (USD),
2) Trading in the North American time zone; and
3) The OTCQX share is the same class of Ordinary Share to ASX traded stock (ASX:WRM), not a synthetic. The shares are simply registered in two different Registries.
This cross listing will assist the North American investor to participate in the White Rock story, especially as it progresses with its current exploration and drilling program at its large IRGS gold anomaly at the Last Chance Prospect2.
White Rock anticipates the OTC Cross Listing to be live in September and will update the Market when timing is confirmed and the trading ticker has been allocated.
About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.
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