Brazilian Rare Earths Commences Trading on the OTCQX Market
Sydney, Nov 1, 2024 AEST (ABN Newswire) - Brazilian Rare Earths Limited (
ASX:BRE) (BRELY:OTCMKTS) announces that its fully paid ordinary shares (OTCQX:BRETF) and American Depositary Receipts Program (ADR Program) (BRELY) commenced trading on the OTCQX market, effective 31 October 2024.
The OTCQX market is designed to expand the reach of Brazilian Rare Earths within the North American capital markets, providing accessible investment options for retail and institutional investors - without the duplicative regulatory requirements of a full U.S. exchange listing. BRE confirms that no new shares have been issued in connection with the ADR Program or inclusion on the OTCQX.
The ADR Program is a USD-denominated trading instrument that enables U.S. investors to buy shares in non U.S. companies without the complexity of cross-border or cross-currency transactions. The Bank of New York Mellon (BNYM) has been appointed as the depositary bank for the ADR Program. In accordance with the deposit agreement lodged with the United States Securities and Exchange Commission, BNYM holds a corresponding number of BRE ordinary shares in custody for each ADR issued. Each BRE ADR represents five ASX-listed BRE ordinary shares.
About Brazilian Rare Earths Limited
Brazilian Rare Earths Limited (ASX:BRE) is an Australian company, rapidly advancing its Tier 1 rare earth project in Northeast Brazil.
Company exploration to date has discovered and delineated a globally significant, district-scale mineral province containing large volumes of both heavy and light rare earths critical to advanced industries and applications that will deliver a green energy transition.
The Company is led by a team of experienced mining executives and geologists with hundreds of years of cumulative experience in finding, developing, and operating mineral assets to generate value across a wide variety of jurisdictions, and commodities throughout the globe.
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