OTC Markets Group Welcomes Adriatic Metals PLC to OTCQX

Rhea-AI Summary

On July 21, 2021, OTC Markets Group Inc. announced that Adriatic Metals PLC, a precious and base metals developer, has upgraded to the OTCQX® Best Market from the Pink® market. Trading under the symbol ADMLF, this upgrade is aimed at providing greater transparency for U.S. investors by adhering to high financial standards and governance practices. The company is advancing the Vares Silver Project in Bosnia & Herzegovina, with a robust pre-feasibility study showing a post-tax NPV of US$1,040 million and an IRR of 113%.

Positive

• Upgrade to OTCQX from the Pink market enhances investor transparency.
• Robust pre-feasibility study for Vares Silver Project shows US$1,040 million post-tax NPV and 113% IRR.
• Company well-funded and exploring across a 41 km2 concession package.

Negative

• None.

NEW YORK, July 21, 2021 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Adriatic Metals PLC (ASX: ADT; LSE: ADT1; OTCQX: ADMLF), a precious and base metals developer, has qualified to trade on the OTCQX® Best Market. Adriatic Metals PLC upgraded to OTCQX from the Pink® market.

Adriatic Metals PLC begins trading today on OTCQX under the symbol "ADMLF." The symbol symbol "ADMLF" represents the company's CDI's (CHESS Depositary Interests) listing on the Australian Stock Exchange. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

Galanopoulos & Company acted as the company's OTCQX sponsor.

About Adriatic Metals PLC
Adriatic Metals PLC is a precious and base metals developer that is advancing the world class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.

The Vares Project Pre-Feasibility Study boasts robust economics of US$1,040 million post-tax NPV8, 113% post-tax IRR and a capex of US$173 million. Adriatic is the only publicly listed mining company exploring in Bosnia and is leveraging its first mover advantage. The Company is well-funded and concurrent with the advancing Definitive Feasibility Study, continues to explore across its large, highly prospective 41 km2 concession package. Adriatic Metals completed the acquisition TSX-listed Tethyan Resource Corp. in Q4 2020, which contained the Raska Zinc-Silver Project in southern Serbia. The Company is exploring across its 99km2 highly prospective concession area, which includes around the formerly operating Kizevak and Sastavci polymetallic mines.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities.  Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com 

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SOURCE OTC Markets Group Inc.

FAQ

What is the significance of Adriatic Metals PLC joining OTCQX?

The upgrade to OTCQX indicates a commitment to transparency and adherence to high financial standards, which is beneficial for U.S. investors.

What is the new stock symbol for Adriatic Metals on OTCQX?

Adriatic Metals PLC trades under the symbol 'ADMLF' on the OTCQX.

What are the financial highlights of the Vares Silver Project?

The Vares Silver Project has a post-tax NPV of US$1,040 million and a post-tax IRR of 113%.

When did Adriatic Metals PLC start trading on OTCQX?

Adriatic Metals PLC began trading on OTCQX on July 21, 2021.