What has happened?
Blackstone Minerals (ASX:BSX) (OTCQX:BLSTF) announced that due to the recent uplift in their share price, they have commenced trading on the US-based OTCQX Markets under the stock ticker OTCQX:BLSTF. Their recent upgrade to OTCQX follows after previously trading on the OTCQB since the 3rd of December.
What are the key highlights?
- Blackstone Officially commences trading on the US-based OTCQX Best Market after trading on the OTCQB since the 3rd of December.
- The move provides North American Investors with three key advantages such as that trades are denominated in US Dollars (USD), trading is possible in the North American time zone and that the OTCQX share is the same class of Ordinary Share to ASX traded stock (ASX: BSX), not a synthetic. Meaning that the shares are simply registered in two different registries.
- The Company believes that trading on the OTCQX will further enhance the visibility and accessibility of the Company to U.S. investors.
- Blackstone also reaffirmed that the company’s primary listing will continue to be on the ASX with shares now also tradeable on the OTCQX market.
What does this mean?
The move for Blackstone from OTCQB to OTCQX is significant as this not only improves their reach to North American investors but also reiterates their commitment to upholding the strict eligibility requirements listing on the OTCQX has. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction. Additionally, the OTCQX is also regulated by the SEC.
This important step in the growth aspirations for the Company follows on from the significant interest shown by North American Investors. This step is part of the Company’s strategy to raise awareness of the Company’s Ta Khoa Nickel-Copper-PGE Project, located 160km west of Hanoi in the Son La Province of Vietnam.
