From few weeks, several of you are claiming about the fact they don't succeed to sell or buy their share of Nickel 28 in US.
Could you explain me further? I don't understand.
Nickel 28 is Canadian company. The company is quoted under NKL acronym on TSX.V market. Recently, Nickel 28 is also quoted in Frankfurt under the acronym of
3JC0.
For my part, I am from Belgium and I buy some years ago on the Canadian market.
I had already seen in the past that there is a third acronym CONXF on the OTC market. I have done some search on this market.
Below an extract of the site businessinsider:" What does OTC mean?
OTC markets are electronic networks that allow two parties to trade with each other using a dealer-broker as a middleman. They are known as dealer networks or markets. In contrast, stock exchanges are auction markets. A price for a stock is posted (the "ask"), and then investors make offers for it, bidding against each other.
Companies that trade OTC are considered public but unlisted. This means their stock can be openly bought and sold, but that the stock is not listed on a major exchange such as the NYSE or Nasdaq. So these equities are subject to the rules and requirements that these exchanges impose on their listed companies. No governing institution is watching them, in other words.
That said, there are still federal regulatory hoops to jump through. Many OTC stocks are subject to at least some oversight by the SEC. In fact, SEC regulations were updated in September 2020 to enhance disclosure and investor protections by ensuring that broker-dealers do not publish price quotes for a security when current information about that security is not publicly available. Also, OTC trading is usually done through a licensed broker-dealer. Broker-dealers are regulated by the Financial Industry Regulatory Authority (FINRA). "
A little bit later:" OTC trading has had a shady reputation. Partly that's because of the basic way it operates. In contrast to the total transparency of the stock exchanges, where prices are displayed for all to see, OTC is a buyer and seller secretly negotiating a price. The seller might offer the stock to one buyer for one price and to another buyer for another."
When I read it, it's clear that this market is a parallel market. The responsablility of the buy and sell is under OTC responsablility not in the company in their list.
For me, if there is an adaptation of SEC regulation, knowing that Nickel 28 isn't officially on the US market, should not be completed by Nickel28 but by OTC. Let imagine that I create a company to sell and buy share. If the Belgian government impose to have admin doc completed, it will be my responsibility.
What do you think?