Recognized by the U.S. Securities and Exchange Commission as an established public marketplace, the OTCQB serves as a leading platform for both domestic and international growth-stage companies. Admission to the OTCQB requires companies to maintain up-to-date financial reporting, meet minimum bid price criteria and complete an annual verification and management certification process. Harena was advised during the admissions process by Donohoe Advisory Associates LLC (“Donohoe advice“).
The company believes that cross-trading on both the Main Market and the OTCQB will not only increase liquidity in its shares through a broader pool of investors, but also provide investors in the United States with easier access to trading in Harena’s common stock.
Harena has seen significant investor interest from the US and given the company’s strategic focus on the US rare earth acquisition market, the OTCQB market offers the company strong synergies as it pursues further development of the Ampasindava project.
Appointment of Siebert as American broker and financial advisor
As cross-trading will now commence on the OTCQB market, Harena has appointed Siebert Financial Corporation (“Siebert“) as the company’s U.S. broker and financial advisor.
The Harena Board of Directors (the “Board“or the”Directors“) believes that Siebert’s appointment is an important step in broadening access to US investors and supporting the effective promotion of the company’s shares in the US
Siebert (NASDAQ: SIEB) is a publicly traded US broker-dealer with approximately US$20 billion in assets under management through its retail advisors. Headquartered in Miami, Siebert’s investment banking practice provides advisory and financing solutions to a broad range of industries with major offices in New York, Washington DC and Los Angeles, and a presence in more than ten additional locations across the US.
Ivan Murphy, Executive Chairman of Harena, said:
“The ever-growing demand for critical minerals from the US and the focus on breaking dependence on China makes it an important market for Harena. As such, the start of Harena’s cross-trading on the OTCQB marks an important milestone for the company as we further broaden our investor base by making it easier for US investors to gain exposure to our world-class Amapsindava project.”
Ajay Asija, Co-Head of Investment Banking, Muriel Siebert & Co., said:
“At Siebert, we are eager to use this involvement to build a long-term relationship with Harena and its U.S. investors. As such, we will support investor outreach, provide market color, provide access to individuals in our professional network and serve as a trusted advisor to the company as it navigates the U.S. capital markets.”
For more information please contact:
| Harena Rare Earths Plc Ivan Murphy, Executive Chairman Allan Mulligan, Executive Technical Director | +44 (0)20 7770 6424 |
Allenby Capital Limited – Financial advisor and broker in Great Britain Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Amrit Nahal / Kelly Gardiner (sales and business brokerage) | +44 (0)20 3328 5656 info@allenbycapital.com |
Muriel Siebert & Co. – American financial advisor and broker Ajay Asija, Co-Head of Investment Banking | +1 (917) 902 7823 aasija@siebert.com |
Celicourt communications – Public Relations Mark Antelme / Charles Denley-Myerson | +44 (0)20 7770 6424 haara@celicourt.uk |
Notes for editors
Wealth (www.harenaresources.com) is a rare earth exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar (Harena’s stake is 100%). The project hosts one of the largest rare earth ionic clay deposits outside China, with significant concentrations of high-quality magnet metals, especially heavy rare earth metals, including neodymium (Nd), dysprosium (Dy) and praseodymium (Pr), which are critical to the composition of neodymium magnets (NdFeB). Harena is committed to low-impact, high-recovery mining, providing a sustainable supply of crucial minerals for the global energy transition and military defense industry, and meeting the ever-growing demand for NdFeB from the robotics sector.
About Donohoe Advisory Associates LLC
Donohoe Advisory Associates is a leading provider of specialist advisory and advisory services for companies and law firms working through the full OTC market and national stock exchange listing process. With extensive expertise in regulatory requirements, disclosure standards and market suitability, Donohoe Advisory supports issuers in preparing, filing and managing successful applications in the OTC market, including OTCQB, OTCQX, OTCID, Form 211 submissions and ongoing compliance monitoring. The company led Harena Rare Earth’s OTCQB application and coordinated the successful approval of Form 211, positioning the company for improved visibility and market access in the US. All of Donohoe Advisory’s directors are former officers of NYSE, Nasdaq and OTC Markets.
Source
#Start #crosstrading #OTCQB #Venture #Market