Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

FYI Resources begins trading on US-based OTC Market

% of readers think this story is Fact. Add your two cents.


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


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.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.