Bradda Head Lithium Ltd Proposed Listing on OTC Markets (3040P)
October 18 2021 - 1:00AM
UK Regulatory
TIDMBHL
RNS Number : 3040P
Bradda Head Lithium Ltd
18 October 2021
18 October 2021
Bradda Head Lithium Ltd.
("Bradda Head", "Bradda", or the "Company")
Proposed Listing on OTC Markets and North American Broker
Engaged
Bradda Head Lithium Ltd. (AIM: BHL), the North America-focused
lithium development group, is pleased to announce that it has
started the process to list on the US OTC Markets platform. The
Company's ordinary shares will be cross-traded on the OTCQB Board
of the OTC Markets. This listing will be in addition to the
existing quoting on the AIM of the Stock Exchange in London.
Bradda's 100%-owned lithium assets are located in Arizona and
Nevada, and the company is developing these assets with the
end-goal to produce low-carbon footprint, low operating cost,
battery-grade lithium end-products. Currently the US produces c.5kt
per year of LCE (Lithium Carbonate Equivalent), and forecasts
estimate that c.250kt LCE will be needed by 2025 in the US for
domestic supply.
The objective of applying to the OTCQB in New York is to provide
efficient access to U.S. investors, enhance liquidity and
facilitate a fair valuation for the Company going forward. The
Company is of the view that through trading on the OTCQB, Bradda
Head can engage with a significant network of U.S. investors, data
distributors and media partners, ensuring that U.S. investors have
access to the same level of information and disclosure that is
available to investors in the United Kingdom, but through
U.S.-facing platforms and portals used to conduct research.
Trading on the US OTC market will have no impact on the
Company's existing ordinary shares trading on the AIM of the London
Stock Exchange. No new ordinary shares will be issued as part of
the cross-trade. The Group will continue to make announcements and
disclosures to the London Stock Exchange through the Regulatory
News Channel and has no Sarbanes-Oxley or SEC reporting
requirements. The OTCQB Market cross-trading facility will provide
U.S. based investors with the ability to access Bradda Head's
shares in U.S. dollars during U.S market hours.
The cross-trading facility is provided through OTC Markets Group
Inc., located in New York. OTC Markets operates the world's largest
electronic interdealer quotation system for U.S. broker-dealers and
offers multiple media channels to increase the visibility of
OTC-listed companies. Independent studies show that trading on the
OTC by an international company positively affects the liquidity of
its shares.
The Company will provide further updates as its shares are
admitted to trading on OTCQB.
Bradda has also engaged Red Cloud to act as its broker in North
America. Red Cloud is a well-known organisation within North
America and has the capability to help Bradda engage with North
American investors and help to share the Bradda story. Bradda's
assets are located in Arizona and Nevada, and the combination of
the OTC listing and the engagement of Red Cloud will help Bradda
reach investors who want to invest in North American lithium
stories.
Charles FitzRoy, CEO of Bradda Head, commented:
"We are delighted to have commenced the process of being
admitted to trading on the OTCQB market.
"Given Bradda Head's strategy of developing critical US lithium
projects to supply the domestic market,
the current aggressive exploration programme that we are
undertaking and the significant interest in lithium in the US, we
believe that listing on the OTC will enable us to gain greater
visibility, further broaden our shareholder base and increase
demand and liquidity in one of the world's major lithium
markets.
"Red Cloud are a renowned and trusted North American broker with
the ability to reach investors who can't trade AIM-quoted
companies. Bradda's assets are in the US and we have had
significant interest showing that the North American market is
looking for investments in lithium companies in the US. "
For further information please visit the Company's website:
www.braddaheadltd.com
Contact:
Bradda Head Lithium Limited +44 (0) 1624 639 396
Charlie FitzRoy, CEO
Denham Eke, Finance Director
Beaumont Cornish (Nomad)
James Biddle/Roland Cornish +44 20 7220 1666
Peterhouse (Joint Broker) +44 207 469 0930
Charles Goodfellow
Duncan Vasey
Lucy Williams
Shard Capital (Joint Broker) +44 207 186 9927
Damon Heath
Isabella Pierre
Red Cloud (North American Broker) +1 416 803 3562
Joe Fars
Tavistock (PR) + 44 20 7920 3150
Nick Elwes braddahead@tavistock.co.uk
Oliver Lamb
Adam Baynes
Notes to Editors
Bradda Head Lithium Ltd. is a North America-focused lithium
development group. The Company currently has interests in a variety
of lithium projects, the most advanced of which are in Central and
Western Arizona: the Burro Creek project (Burro Creek East Project,
and the Burro Creek West Project) and the Wikieup Project.
The Burro Creek East Project has an estimated an Inferred
Mineral Resource (JORC) of 42.6 Mt of lithium bearing clays at an
average grade of 818 ppm of lithium for 185,000 tonnes of lithium
carbonate equivalent (LCE). The Burro Creek East Project also has
additional exploration potential for extensions to the current
model of between 50,000 to 300,000 tonnes of lithium carbonate
equivalent.
The Group intends to continue to develop its three phase one
projects in Arizona, whilst endeavouring to unlock value at its
other prospective pegmatite and brine assets in Arizona, Nevada and
Pennsylvania.
All Bradda Head's licences are held on a 100% equity basis and
are in close proximity to the required infrastructure.
Bradda Head is quoted on the AIM market of the London Stock
Exchange with the ticker of BHL.
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