OTC Markets Group Welcomes Bannerman Energy Ltd to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. (OTCM) announced that Bannerman Energy Ltd (OTCQX: BNNLF) has upgraded to the OTCQX Best Market from the OTCQB Venture Market. This transition allows Bannerman to reach a broader U.S. investor audience and demonstrates its commitment to high financial standards and corporate governance. The company's Etango-8 Project in Namibia is positioned for development, with a Definitive Feasibility Study expected in Q4 2022. This upgrade is a significant milestone for Bannerman as it advances its uranium development strategy.

Positive

• Bannerman upgraded to OTCQX Best Market, enhancing visibility among U.S. investors.
• Demonstrates commitment to high financial standards and corporate governance.
• Progressing towards Definitive Feasibility Study for the Etango-8 Project.

Negative

• None.

NEW YORK, Sept. 07, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Bannerman Energy Ltd (ASX: BMN; OTCQX: BNNLF), a company which engages in exploration and development of uranium properties in Namibia, Southern Africa, has qualified to trade on the OTCQX^® Best Market. Bannerman Energy Ltd upgraded to OTCQX from the OTCQB^® Venture Market.

Bannerman Energy Ltd begins trading today on OTCQX under the symbol “BNNLF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Bannerman Managing Director and CEO, Brandon Munro said, “Bannerman’s upgrade to the OTCQX^® Best Market reflects our strategy to introduce the Company to a broader international audience. The more highly regulated financial and corporate governance requirements of the OTCQX are attractive to many larger investors and specialist funds. This recognition presents a timely progression for Bannerman, as we progress the Definitive Feasibility Study evaluating the transition of our Etango-8 Project from development to production.”

About Bannerman Energy Ltd

Bannerman Energy Ltd is a uranium development company listed on the Australian and Namibian stock exchanges and traded on the OTCQX Market in the US.

Its flagship asset, the advanced Etango Uranium Project located in the Erongo Region of Namibia, Southern Africa, is one of the largest undeveloped uranium assets in the world. With all environmental permits in place for development and having published its Pre-Feasibility Study (PFS) in August 2021, the Company is now well advanced towards completing a Definitive Feasibility Study (DFS) in Q4 CY 2022.

Bannerman also holds a 41.8% shareholding in Namibia Critical Metals Inc, the developer of the fully permitted Lofdal Heavy Rare Earths Project, one of the very few development projects outside China that offer substantial future production of dysprosium and terbium.

For further information see www.bannermanenergy.com

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

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

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

FAQ

When does Bannerman Energy start trading on OTCQX?

Bannerman Energy Ltd begins trading on the OTCQX under the symbol 'BNNLF' on September 7, 2022.

What does it mean for Bannerman Energy to upgrade to OTCQX?

Upgrading to OTCQX means Bannerman Energy meets higher financial standards and corporate governance, allowing better access to U.S. investors.

What is the significance of the Etango-8 Project for Bannerman Energy?

The Etango-8 Project is a major uranium development project for Bannerman, with a Definitive Feasibility Study expected to be completed in Q4 2022.