Last checked at 21 Jul 2021 07:00
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® 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® market. Approximately 20% of the Company's investor base is in North America.
Adriatic has upgraded to the OTCQX from the Pink® 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.
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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 NPV8, 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 41km2 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 99km2 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.