Namibia Critical Metals trades common shares on OTCQB


Namibia Critical Metals Inc.'s common shares started trading on the Over-the-Counter Quantitative Brokers (OTCQB) Venture Market in the US on March 28.

If shares trade on the OTC market, they are not listed on major stock exchanges. Instead, a dealer network facilitates any buy and sell orders of the shares.

The Namibia Critical Metals Inc. (NCMI) is developing the Lofdal Tier-1 Heavy Rare Earth Project in Namibia.

Lofdal has a globally significant deposit of the heavy rare earth metals dysprosium and terbium. 

The Lofdal Project is fully permitted with a 25-year mining license and is under a joint venture agreement with Japan Organization for Metals and Energy Security (JOGMEC).

Eligibility for OTCQB quotation requires a company to undergo an annual verification and management certification process, meet minimum financial reporting and transparency standards, and pass other tests relating to the company's capital structure and share price.

The company said the decision to commence trading through the higher‐profile OTCQB enables them to engage a far greater network of North American investors, data and media partners to expand the potential pool of investors significantly and followers from the US and other jurisdictions.

According to the company, OTC Markets is a well‐established trading platform in the US, and the QB quotation will significantly expand global access to investment in the shares.

It further said that US investors, in particular, will gain simpler, live‐market trading access to the common shares while increasing interest and awareness in the rare earth sector.

"The trading on OTC is non‐dilutive to existing shareholders. No capital is being raised, and no new shares are being issued to enable trading on the OTCQB," the company said in a statement.

Namibia Critical Metals president Darrin Campbell said: "We are delighted to be able to provide US investors with enhanced access to the NCMI story through the OTC platform. We have seen a significant increase in US-based shareholders over the last two years as the rare earth sector, in general, has grabbed the attention of investors worldwide."

NCMI is also listed on the Toronto Stock Exchange Venture (TSXV) market. 


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