Adriatic Metals PLC Adriatic Upgrades to the OTCQX (9456F)
July 21 2021 - 01:00AM
UK Regulatory
TIDMADT1
RNS Number : 9456F
Adriatic Metals PLC
21 July 2021
Adriatic Metals PLC
('Adriatic Metals' or the 'Company')
ADRIATIC METALS UPGRADES TO THE OTCQX AND COMMENCES TRADING
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF ) is pleased
to announce that it has qualified to upgrade onto the OTCQX(R) Best
Market ("OTCQX"), the OTC Markets Group's premier market for
established companies seeking U.S. investors. Adriatic will
commence trading today on the OTCQX under the symbol 'ADMLF'.
By upgrading to the OTCQX, Adriatic enables its current and
prospective U.S. investors improved market visibility, increased
trading liquidity and the most up-to-date information otherwise not
found on the Pink(R) market. Approximately 20% of the Company's
investor base is in North America.
Adriatic has upgraded to the OTCQX from the Pink(R) market,
where it has traded for just over 12 months. The Company will
continue to trade under the same ticker symbol, ADMLF.
ADMLF represents the Company's CHESS Depositary Interests
("CDIs") listed on the Australian Stock Exchange ("ASX").
Therefore, trading volume in ADMLF on the OTCQX will be shown as
volume traded in ADT shares on the ASX.
To qualify for trading on the OTCQX, the Company must meet high
financial standards, follow best practice in corporate governance
and demonstrate compliance with applicable securities laws.
OTC Markets Group Inc. is an operator of financial markets for
11,000 U.S. and global securities. U.S. investors can find current
financial disclosure and real-time Level 2 quotes for the Company
at www.otcmarkets.com/stock/ADTLF .
Galanopoulos & Company acted as the company's OTCQX
sponsor.
** ENDS **
For further information please visit www.adriaticmetals.com or
@adriaticmetals visit on Twitter; or contact:
Adriatic Metals PLC
Paul Cronin / Thomas Horton Tel: +44 (0) 7866
913207
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia) Tel: +61 2 9263 2700
James Asensio (UK) Tel: +44 (0) 207
523 8000
RBC Capital Markets (Joint Corporate Broker)
Marcus Jackson / Jamil Miah Tel: +44 (0) 20 7653
4000
Stifel Nicolaus Europe Limited (Joint Corporate
Broker)
Ashton Clanfield / Callum Stewart Tel: +44 (0) 20 7710
7600
Tavistock Communications Limited
Charles Vivian Tel: +44 (0) 7977
297 903
The Capital Network
Julia Maguire / Lelde Smits Tel: +61 2 8999 3699
ABOUT ADRIATIC METALS
Adriatic Metals PLC ((ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a
precious and base metals developer that is advancing the
world-class Vares Silver Project in Bosnia & Herzegovina, as
well as the Raska Zinc-Silver Project in Serbia.
The Vares Project Pre-Feasibility Study boasts robust economics
of US$1,040 million post-tax NPV(8) , 113% post-tax IRR and a capex
of US$173 million. Adriatic is the only publicly listed mining
company exploring in Bosnia and is leveraging its first-mover
advantage. The Company is well-funded and concurrent with the
advancing Definitive Feasibility Study, continues to explore across
its large, highly prospective 41km(2) concession package.
Adriatic Metals completed the acquisition TSX-listed Tethyan
Resource Corp. in Q4 2020, which contained the Raska Zinc-Silver
Project in southern Serbia. The Company is exploring across its
99km(2) highly prospective concession area, which includes around
the formerly operating Kizevak and Sastavci polymetallic mines.
There have been no material changes to the assumptions
underpinning the forecast financial information derived from the
production target in the 15 October 2020 announcement and these
assumptions continue to apply and have not materially changed.
Adriatic Metals is not aware of any new information or data that
materially affects the information included in the announcement of
the updated Mineral Resource Estimate announced on 1 September 2020
and all material assumptions and technical parameters underpinning
the Mineral Resource Estimate continue to apply and have not
materially changed.
ABOUT GALANOPOULOS & COMPANY
Galanopoulos & Company is a boutique law practice dedicated
exclusively to U.S. and Canadian corporate and securities law. The
practice includes a full range of public company services from
initial and alternative public offerings to private placements of
equity and debt securities and other financing transactions, the
continuous disclosure obligations of public companies reporting
with U.S. and Canadian securities regulators, as well as listings
on international securities exchanges in collaboration with a broad
network of law firms. The firm's clients operate in a variety of
industries such as financial services, resource exploration and
development, and biotechnology, and include financial market
intermediaries, funds, and publicly held corporations.
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END
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