FYI Resources begins trading on US-based OTC Market
FYI Resources Ltd (ASX:FYI) (OTCMKTS:FYIRF) has received the green light from the Securities and Exchange Commission (SEC) for trading on the US-based OTC market.
Following the clarification of an Australian accounting principle definition, the US securities trading governing body SEC is satisfied and has granted FYI quotation to OTC.
FYI started trading on the OTC on May 4, 2021, in the United States under the stock code OTCQB:FYIRF.
The company believes that trading on the OTCQX will enhance its visibility and accessibility to the growing market of North American retail, high net worth and institutional investors.
Increased US investor interest
FYI looks forward to a long-term relationship with the OTC in engaging with, and building, its North American shareholder base in response to an increase in US investor interest.
This interest is in FYI’s fully integrated flowsheet design which delivers high purity alumina (HPA) coupled with strong project financial metrics, a positive ESG impact and increasing investment exposure into electric vehicle and strategic battery minerals supply chain opportunities.
Primary advantages to North American investors include:
- Allows trading of FYI in local time zone;
- Trades and settlements are in US Dollars (no exchange rate risk or additional fees);
- The OTCQX is a common share (same class) as the FYI shares traded on the ASX (ASX:FYI); and
- All shares are maintained through the company’s current share registry, Automic Group.
DTC eligibility
FYI is also seeking eligibility from The Depository Trust and Clearing Corporation (DTC) and this process is independent of trading on the OTCQX.
DTC manages electronic clearing and settlement of publicly-traded companies across the US and in more than 130 other countries, thereby giving investors around the world the opportunity to trade in the securities of member companies electronically from their online accounts.
It provides for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process of daily trades.
Such eligibility will ensure a more liquid and transparent market for the company’s common shares within the US as is the case with daily on-market trading on the ASX.
FYI anticipates this process will be completed this month and will advise the market accordingly.
In the interim OTCQX trading will be conducted through OTC market maker, B Riley Financial.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/948507/fyi-resources-begins-trading-on-us-based-otc-market-948507.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
