Ordinary Shares Commence Trading on the OTCQB Venture Market
Perth, June 27, 2018 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (DYLLF:OTCMKTS) (Namibian Stock Exchange:DYL) is pleased to announce that the Company's ordinary shares have been approved for trading on the OTCQB Venture Market in the United States (US) under the symbol "DYLLF." The OTCQB is a U.S. trading platform operated by OTC Markets Group in New York.
HIGHLIGHTS
- U.S. investors now have easier, real time trading access to Deep Yellow's Ordinary Shares through the OTC trading platform.
- This development significantly expands the pool of investors able to invest in the Company.
Deep Yellow shares will continue trading on the ASX under its existing symbol DYL. For clarity, this dual listing structure is non-dilutive to existing Deep Yellow shareholders - that is, no capital is being raised and no new shares are being issued.
The OTCQB Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their financial reporting, pass a minimum $0.01 bid price test and undergo an annual company verification and management certification process. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for U.S. investors. Through trading on OTCQB, companies can engage a far greater network of U.S. investor, data distributors and media partners, ensuring U.S. investors have access to the same high-quality information that is available to investors in Australia, but through U.S. platforms and portals used to conduct research.
"We are pleased to announce our new trading relationship with OTCQB. As part of our ongoing strategy to introduce Deep Yellow to a broader international audience, this milestone will provide greater visibility, better access to the U.S. investment community, and improved convenience of trading in Deep Yellow's ordinary shares," said John Borshoff, Managing Director.
The securities law firm Sichenzia Ross Ference Kesner LLP served as the Company's OTC Markets Sponsor and Viriathus Capital LLC served as the Company's financial advisor.
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
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