(MENAFN- ABN Newswire)
The directors of Nova Minerals Limited (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) are pleased to announce that its application to uplist to the OTCQB market in the United States has been accepted and the Company's shares are now trading under the ticker symbol NVAAF.
HIGHLIGHTS:
- Official dual-listing on the US OTCQB market as of 3 April 2020, ticker symbol NVAAF
- B. Riley FBR appointed as OTC Sponsor
- DTC eligibility application in progress
The Company's primary listing continues to be the Australian Securities Exchange ("ASX"), with the shares now dual-listed on the OTCQB Market in the United States.
The OTCQB market has high financial reporting standards and strong corporate governance requirements, both of which are satisfied through Nova's ongoing compliance with ASX listing rules.
Prompted by numerous investor requests, Nova has sought the OTCQB listing to provide current and potential North American investors with enhanced trading accessibility and liquidity. The listing provides Nova with access to one of the largest investment markets in the world at nominal cost, with no additional compliance requirements.
No new shares are being issued in connection with the listing on the OTCQB market. Existing ordinary shares of Nova may now also be traded on the OTCQB Market and investors can find real-time quotes and market information on the OTC Markets website:
https://www.otcmarkets.com/stock/NVAAF/overview
The Company has initiated the application for Depository Trust Clearing ("DTC") eligibility, which will allow the Company's shares to be electronically cleared and settled through the DTC, and greatly broadens the pool of brokerage firms that will allow their clients to trade the stock. Pending DTC eligibility, trading of the shares will be handled by brokers who will act as market makers. In the interim OTCQB trading will be conducted through B. Riley FBR Inc.ii as market maker. A list of other brokers operating on the OTC Markets is available from the following link:
https://www.otcmarkets.com/otc-link/broker-dealer-directory
B. Riley FBR, based in Los Angeles with offices across the United States, provides corporate finance, research, sales and trading services. Their investment banking services include secondary and follow-on offerings, institutional private placements and M&A advisory services. B. Riley FBR brings extensive experience in the OTC sponsorship process and acted as the company's sponsor throughout the process of obtaining their OTCQB quotation.
NOVA Chairman, Mr. Avi Kimelman said: "An OTCQB listing provides Nova Minerals with access to the world's largest investment market.
Nova Minerals is at a critical stage of its development with an established 2.5Moz inferred gold resource on a small area to about 100m depth and open significantly in all directions at the Estelle Gold district, our exploration efforts to date have produced results at at under $1 per discovery ounce and we intend to maintain this run rate by continually opening up new targets within the Korbel prospect as well as the 220km2 Estelle Gold District. Furthermore, we anticipate to ramp up the diamond drill rigs to test the deposit at depth and utilise the company owned RC drill rig to test these new zones with the Korbel target are in figure 1* and along strike of the current resource area within Korbel target in the near term. Korbel target area is one of 15 known targets on the project area.
Nova is in a strong position to significantly increase resources and gives our shareholders more exposure to significant exploration upside throughout 2020 and beyond across the Korbel project alone with a clear objective to push Block B "Starter Pit" towards a feasibility study in 2021 (ASX announcement: 02 September 2019 and 9 December, 2019) on the path to production.
We are excited to be broadening our exposure in the global investment community. Joining the OTCQB market will be matched with an active investor engagement program, to ensure our investment attractions and growth prospects are highlighted with new investors that have shown considerable interest in Nova."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2I3H2451
Nova Minerals Limited ( ASX:NVA ) ( FRA:QM3 ) is an ASX-listed minerals explorer focused on lithium, gold and mineral exploration in Canada, Alaska and Australia.
The company plans to create shareholder value through two-pronged strategy:
- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.
- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.
Nova Minerals LtdP: +61-3-9614-0600F: +61-3-9614-0550WWW: novaminerals.com.au
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