OTC Markets Group Welcomes Sovereign Metals Limited to OTCQX

Rhea-AI Summary

OTC Markets Group announced that Sovereign Metals (ASX: SVM; AIM: SVML; OTCQX: SVMLF) has qualified to trade on the OTCQX Best Market.

Sovereign Metals upgraded from the Pink market and begins trading under the symbol “SVMLF.”

This upgrade facilitates transparent trading for U.S. investors, providing access to the company's financial disclosures and Real-Time Level 2 quotes on otcmarkets.com.

To qualify for OTCQX, companies must meet high financial standards, follow best practices in corporate governance, and comply with applicable securities laws.

Managing Director Frank Eagar expressed enthusiasm about enhancing U.S. investor engagement as Sovereign Metals positions itself as a future supplier of critical minerals.

Positive

• Sovereign Metals upgraded from the Pink market to OTCQX, enhancing trading transparency.
• The upgrade enables U.S. investors to access financial disclosures and Real-Time Level 2 quotes.
• Positioning as a future supplier of critical minerals could attract more investors.

Negative

• Sovereign Metals must maintain high financial standards and corporate governance to remain on OTCQX, which could pose continuous pressure on compliance.

NEW YORK, July 05, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Sovereign Metals Limited (ASX: SVM; AIM: SVML; OTCQX: SVMLF), a future critical minerals supplier, has qualified to trade on the OTCQX® Best Market. Sovereign Metals Limited upgraded to OTCQX from the Pink® market.

Sovereign Metals Limited. begins trading today on OTCQX under the symbol “SVMLF.” 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.

Sovereign Metals Limited’s Managing Director Frank Eagar commented: “We are pleased to have been upgraded to the OTCQX, the top tier of the OTC Markets. We look forward to increasing our engagement with U.S. investors that can now directly invest in Sovereign, a future supplier of critical minerals.”

About Sovereign Metals Limited
Sovereign Metals Limited is focused on becoming a market leader in supplying two critical minerals to global markets: titanium, in the form of rutile, and graphite. Rutile is the purest, highest-grade natural form of titanium dioxide (TiO2) and is the preferred feedstock in manufacturing titanium pigment and producing titanium metals.Titanium is essential for various industries, including aerospace, defense, pigments, medical and consumer technologies. Graphite is vital for the energy transition as the largest component of a lithium-ion battery. Currently, China dominates the supply of both critical minerals. Sovereign’s 100% owned Tier-One Kasiya Rutile-Graphite Project, located in the southeast African country of Malawi, is both the world’s largest known rutile deposit and second-largest flake graphite deposit. Through numerous technical studies, Sovereign has already confirmed that the Kasiya project could be the world’s largest and lowest-cost producer of rutile and graphite and is currently undertaking an optimisation study. Sovereign’s strategic investor and one of the world’s largest and most accomplished global mining companies, Rio Tinto continues to provide assistance and advice on technical and marketing aspects of Kasiya. With sustainability a core pillar of Sovereign’s strategy, Kasiya would have the lowest greenhouse gas emissions of any high-grade titanium feedstock or graphite producer.

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

What is the recent upgrade for Sovereign Metals on OTCQX?

Sovereign Metals has been upgraded from the Pink market to the OTCQX Best Market.

What symbol does Sovereign Metals trade under on the OTCQX?

Sovereign Metals trades under the symbol 'SVMLF' on the OTCQX.

When did Sovereign Metals start trading on OTCQX?

Sovereign Metals began trading on OTCQX on July 5, 2024.

Why is the OTCQX upgrade significant for Sovereign Metals ?

The upgrade to OTCQX enhances trading transparency and allows U.S. investors to invest in the company with access to vital financial information.

What requirements did Sovereign Metals need to meet to qualify for OTCQX?

Sovereign Metals had to meet high financial standards, follow best practice corporate governance, and comply with applicable securities laws.

Where can U.S. investors find financial disclosures for Sovereign Metals?

U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for Sovereign Metals on www.otcmarkets.com.