Brazilian Rare Earths Limited (BRELY) Commences Trading on the OTCQX Market
Brazilian Rare Earths Limited (ASX:BRE) (OTCMKTS:BRELY) 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.
Bernardo da Veiga MD and CEO Brazilian Rare Earths bdv@brazilianrareearths.com
News Provided by ABN Newswire
