Cohiba Admitted to OTCQB Market
Melbourne, Feb 9, 2022 AEST (ABN Newswire) - Cohiba Minerals Limited (
ASX:CHK) (CHKMF:OTCMKTS) is pleased to announce that trading of its ordinary shares on the OTCQB market will commence on 9 February 2022 under the ticker symbol "CHKMF".
The OTCQB 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. Cohiba sought the OTCQB quotation to provide current and potential North American investors with appropriate accessibility and liquidity to invest in the Company. The quotation provides Cohiba access to one of the largest investment markets in the world at nominal cost, with no additional compliance requirements, compared to traditional major exchanges. No new shares in the Company are being issued in connection with the quotation on the OTCQB Market. Existing ordinary shares of Cohiba may now also be traded on the OTCQB Market and investors can find real-time quotes and market information on the OTC Markets website (www.otcmarkets.com/stock/CHKMF/overview ).
The Company is in the process of applying for Depository Trust Clearing (DTC) eligibility, which essentially facilitates electronic trading of securities by individual investors that use self- managed online broking accounts (such as TD Ameritrade and E-Trade), as opposed to trading through full services brokers. Pending DTC eligibility, trading of the shares will be handled by brokers who will act as market makers. In the interim OTCQB trading will be conducted through B.Riley FBR Inc as market maker.
The Company will continue to have its primary listing on the ASX and be subject to and comply with the ASX Listing Rules and Corporations Act 2001 (Cth) (Corporations Act).
Commenting on being admitted to the OTCQB Market, CHK's Executive Chairman, Mordechai Benedikt, said: "The Company has long recognised the opportunities provided by the North American capital markets and with exploration activities the Company has planned for each of its projects, the ability to reach out to additional markets will attract key investors into the future".
"We believe CHK's admission to the OTCQB will benefit all of our shareholders, enhancing the visibility and accessibility of the Company to US investors, allowing the Company to efficiently grow its North American shareholder base".
About Cohiba Minerals Limited
Cohiba Minerals Limited (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.
The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX:OTCM) operates a financial marketplace for 10,000 United States and global securities through the broker of their choice. Through its OTC Link ATS, the Company directly link a diverse network of broker-dealers that provide liquidity and execution services for a spectrum of securities. the Company organizes these securities into three marketplaces to inform investors of opportunities and risks: OTCQX, the best marketplace with qualified companies; OTCQB, the venture stage marketplace with the United States reporting Companies; and OTC Pink, the open marketplace with variable Reporting companies. The OTCQX marketplace offers the informed and trading for the United States and global companies. The OTCQB marketplace offers informed trading for securities of smaller or developing companies that are reporting to a United States regulator (SEC, Bank, or Insurance). The OTC Pink marketplace offers trading in a spectrum of equity securities through any broker.
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