Lotus’ US shares upgraded to OTCQX Best Market
Africa-focused uranium company Lotus Resources’ shares have started trading on the US-based OTCQX Best Market, an upgrade from the OTCQB Venture Market.
The company’s OTC ticker symbol remains LTSRF.
Lotus shares have traded on the OTCQB Venture Market since April 2021.
Lotus has recently met key criteria to be upgraded to trading on the OTCQX Market and started trading in the US from May 31.
OTCQX Market has higher standards and attracts a wider range of investors, Lotus explains.
To qualify for the OTCQX Market, companies must, among other things, meet a higher set of financial standards, and follow best practice corporate governance, with ongoing disclosure.
Owing to its more established reputation, stricter compliance requirements and broader pool of investors, the OTCQX Market generally has higher trading volumes and liquidity than the OTCQB Market, Lotus avers.
It posits that the upgrade further broadens Lotus’ eligible investor base.
Lotus recently entered the ASX300 index, which the company says considerably broadens its ASX investor base.
Trading on the OTCQX Market provides further exposure to a broader North American investor base, it adds.
“Lotus has traded on the OTCQB Market since April 2021, and we have found the resulting opportunity to engage with North American investors very beneficial for the company.
“We are pleased to have met the stricter trading criteria and been upgraded to the OCTQX, the top tier of OTC Markets, and we look forward to seeing increased volumes resulting from a broader base of potential North American investors that can now invest in Lotus,” says MD Keith Bowes.
Lotus holds an 85% interest in the Kayelekera uranium project, in Malawi, and full ownership of the Letlhakane uranium project, in Botswana.
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