White Rock Minerals Ltd (ASX:WRM, OTCQX:WRMCF) has made it much simpler for US investors to trade the company’s shares on the OTCQX by securing Depository Trust Company (DTC) approval.
This allows real-time electronic clearing and settlement in the USA for its OTCQX-quoted ordinary shares through the Depository Trust & Clearing Corporation (DTCC).
As well as simplifying the trading process, this approval will enhance the liquidity of White Rock’s shares on the OTCQX by greatly broadening the pool of brokerage firms that will allow their clients to trade the stock.
Online brokers such as Ameritrade, Fidelity, Charles Schwab (NYSE:SCHW) and E-Trade all offer OTCQX trades.
Effective immediately
White Rock’s managing director and CEO, Matt Gill said: “We are excited that we have DTC electronic trading as White Rock shares can now be traded in USD for those who wish to do so in the North American time zone.
"We receive requests almost daily from US investors who have had difficulty buying our stock and are pleased to announce that we have obtained DTC eligibility, effective immediately.
"This should simplify trading and enhance liquidity with a wider pool of investors.”
Advantages of OTC trading
DTC is a subsidiary of the DTCC, a US company that manages the electronic clearing and settlement of publicly traded companies.
Three key advantages of trading the OTCQX:WRMC stock:
- Trades and settlements in US Dollars (USD);
- Trading in the North American time zone; and
- WRMCF is the same class Ordinary Shares to ASX traded stock (White Rock Minerals Ltd (ASX:WRM, OTCQX:WRMCF)), not a synthetic. The shares are simply registered in two different share registries.
Investors should inquire of their respective brokers whether OTC shares are available.
"We would like to thank our transfer agent Dynamic Stock Transfer, our OTC Sponsor MCAP LLC and our legal advisor Rimon Law," Gill added.
White Rock assets
White Rock, an explorer and near-stage gold producer, has three assets:
- • Key asset, Red Mountain/Last Chance – Globally significant zinc–silver VMS polymetallic and IRGS gold project in Alaska, a Tier 1 jurisdiction;
- • New asset, Woods Point – Victorian gold project. Bringing new strategy and capital to a large 660 square kilometre exploration land package and high-grade gold mine (past production >800,000 ounces at 26 g/t); and
- • Mt Carrington – a near-term production asset: JORC resources for gold and silver, on ML with a PFS and existing infrastructure, with an EIS and DFS being advanced by JV partner.
