Upgrades to Trade on the OTCQX Best Market in the U.S.
Perth, Oct 9, 2018 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (OTCQX:DYLLF) (Namibian Stock Exchange:DYL) is pleased to announce that the Company's ordinary shares have been approved for trading on the OTCQX Best Market in the United States (U.S.) having upgraded from the OTCQB Venture Market.
HIGHLIGHTS
- Deep Yellow qualifies to trade on OTCQX--the top tier of OTC Markets
- Allows more U.S. brokers to trade Deep Yellow securities and increased visibility.
"We are pleased to qualify to upgrade to the OTCQX Best Market after successfully building shareholder value and visibility on the OTCQB Venture Market," said John Borshoff, Managing Director/CEO. "This is evidenced by the fact that Deep Yellow's shares have markedly improved trading with our thirty-day average trading volume in the U.S. more than doubling since we began trading on the OTCQB Market. By upgrading our shares to OTCQX, we believe this move signals to investors that Deep Yellow represents the highest standards by joining peer companies that meet high financial standards, follow best practice corporate governance and are distinguished by the integrity of their operations".
The securities law firm Sichenzia Ross Ference Kesner LLP served as the Company's OTCQX 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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