Business
DTC Eligibility for OTCQX Electronic Trading
DTC Eligibility for OTCQX Electronic Trading.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n\n26 May 2023\nCorporate Update\nDTC Eligibility for OTCQX Electronic Trading\n \nAtlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, \"Atlantic Lithium\" or the \"Company\"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, is pleased to announce that the Company's common shares (\"Common Shares\") listed on the OTCQX® Best Market (\"OTCQX\") in the United States are now eligible for electronic clearing and settlement through the Depository Trust Company (\"DTC\").\n \nDTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be \"DTC Eligible\".\n \nDTC eligibility is expected to simplify the process of trading and transferring the Common Shares and to enhance the liquidity of the Common Shares in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers. This enables the Common Shares to be traded over a wider selection of brokerage firms.\n \nOnline brokers such as TD Ameritrade, Fidelity Investments, Charles Schwab and E*TRADE all offer OTCQX trades. Investors trading via other online brokers should contact their respective brokers to ascertain whether OTCQX shares can be made available to them.\n \nThe Company believes that trading on the OTCQX market provides enhanced investor benefits and greater, more efficient access to prospective investors in the US, where there is significant interest in lithium due to its role in the global decarbonisation thematic.\n \nThe Company commenced trading on the OTCQX in November 2021, with B. Riley Securities, Inc. acting as the Company's sponsor. In January 2023, the Company was pleased to announce that it had been listed in the 2023 OTCQX® Best 50, an annual ranking of the top performing companies traded on the OTCQX Best Market in 2022.\n \nAtlantic Lithium shares trade on the OTCQX under the ticker \"ALLIF\".\n \nCommenting, Amanda Harsas, Finance Director & Company Secretary of Atlantic Lithium, said:\n \n\"We consider DTC eligibility to be a tremendous value-add for exi...