Fireweed Zinc (FWZ) announced the company is applying for trading eligibility on the OTCQB market and DTC eligibility.
The company hopes the Over The Counter Market (OTCQB) listing and Depository Trust Company (DTC) eligibility will open it up to more U.S. investment. The Vancouver-based company's common shares will continue to trade in Canada on the TSXV under the symbol FWZ after the OTCQB listing. The listing of the company’s common shares on the OTCQB remains subject to approval as does settlement through the DTC.
The OTCQB provides investors improved visibility to enhance trading decisions while DTC eligibility will enable an accelerated settlement process and allow shares to be efficiently transferred between brokerage accounts electronically within the United States.
"We have had significant interest expressed from US-based investors and listing on the OTCQB will provide institutional and retail investors with easier access to trade in our shares. This new listing will also assist existing US shareholders who have purchased our shares through the OTC Grey Market as it will address new requirements of pending SEC rules for trading in the USA while also enhancing our liquidity," said Fireweed CEO Brandon Macdonald.
Fireweed Zinc is focused on zinc-lead-silver. The company is advancing its district-scale 940-square-kilometre Macmillan Pass Project in Yukon.
Fireweed Zinc is down 1.32 per cent, trading at $0.75 at 11:17 am ET.