Sunday , April 14 2024

Akobo to apply to trade on OTC Markets platform

Scandinavian-based Ethiopian gold exploration and boutique mining company Akobo Minerals has announced plans to apply for trading on the OTC Markets platform in the US

In addition, the company intends to secure a Nkr 30-million convertible loan and  believes there are several benefits of having an additional US-based quotation for its shares.

The development comes on the backdrop of the company having a full listing on two markets in Europe.

Akobo, which owns the Segele gold project in Ethiopia, already has a full listing on two markets in Europe, but believes there are several benefits of having an additional US-based quotation for its shares.

The main benefit is having a freely tradeable security with a US ticker symbol and a dollar share quote that will enable the Akobo share to become available to all US investors through their broker of choice, it states.

Secondly, Akobo is already listed on the Euronext exchange in Oslo and, therefore, qualifies to trade on the OTCQX Best Market.

“The listing process of securing an OTC cross-trade in the US is simplified without having to do any additional US regulatory or legal work,” it points out.

“As the company moves towards gold production from our boutique mine in Ethiopia, we want to ensure that new investors have greater access to trading of our shares,” said the company in a statement.

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