Harena Resources (HREE) , the rare earths company focused on the Ampasindava ionic clay rare earth project in Madagascar, is to file an application with the OTC Markets Group for its shares to be publicly cross-traded on the OTCQB Venture Market.
The OTCQB Market will provide easier access to trading in Harena shares to investors in North America.
Donohoe Advisory Associates LLC, a leading advisory firm focused exclusively on assisting companies with Nasdaq, NYSE, and OTC Markets listing matters, will act as OTC Sponsor to the company.
"Cross-trading on the OTCQB Market is an important step for the company as we seek to connect with key U.S. stakeholders, including not only investors seeking exposure to our strategically important rare earth project, but also institutions and corporate partners,” said Ivan Murphy, non-executive chairman of Harena.
“Furthermore, it reflects our recognition of the ever-growing U.S. critical mineral demand and breaking the reliance on China. We are delighted to be working with Donohoe Advisory and we look forward to progressing our OTCQB Market application."
View from Vox
Murphy has been spending a fair bit of time in the US recently, connecting with potential offtake partners and making contacts inside the US government apparatus. The OTC listing will add to the company’s visibility in the US, and ought to help along nicely its plans of selling rare earths directly into the US markets.