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OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Their data-driven disclosure standards form the foundation of their three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market. Through their OTC Link® Alternative Trading Systems (ATSs), the company provides critical market infrastructure relied upon by broker-dealers to facilitate trading. This innovative model offers companies more efficient access to the U.S. financial markets.
OTC Markets Group is committed to enhancing market transparency, boosting investor confidence, and improving the efficiency of trading processes. Their recent financial results for Q1 2024 reflect a strong focus on enhancing trading functionality, investor information, and market integrity. The company continues to invest in its people, platforms, and processes to build a more resilient and scalable organization, aligning operating costs with revenue generation to deliver value to shareholders.
Recent achievements include the successful sponsorship of companies like Horizon Copper and Roth CH Acquisition Co., which have commenced trading on the OTCQX Market. These companies benefit from streamlined market standards that allow them to utilize their home market reporting to make their information available to U.S. investors. OTC Markets Group also supports companies, such as Marpai, Inc. and American Oncology Network, Inc., transitioning from Nasdaq to OTCQX, ensuring continued visibility and compliance with high financial standards.
With a focus on creating better informed and more efficient markets, OTC Markets Group continues to evolve and expand its services, building on a foundation of transparency and regulatory compliance. For more information, visit www.otcmarkets.com.
OTC Markets Group Inc. (OTCM) announced that Trident Royalties PLC (OTCQX: TDTRF) has qualified to trade on the OTCQX® Best Market, effective April 5, 2023. This listing allows Trident access to a broader pool of U.S. investors interested in diverse commodities, including lithium and gold. The OTCQX Market offers cost-effective trading solutions for companies listed on qualified international exchanges, and Trident's entry aligns with its strategy of building a diversified mining royalty portfolio. Stifel, Nicolaus & Company acted as Trident's OTCQX sponsor.
OTC Markets Group Inc. (OTCM) has announced that Reunion Gold Corporation (OTCQX: RGDFF), a gold explorer in South America, has upgraded to trade on the OTCQX® Best Market from the OTCQB® Venture Market. This transition allows Reunion Gold to increase visibility among U.S. investors and signifies meeting high financial standards and corporate governance practices. Trading under the symbol “RGDFF,” the company is focused on its Oko West gold discovery in Guyana. This achievement marks a significant milestone for Reunion Gold as it seeks to enhance its market presence and possibly attract more investment.
OTC Markets Group Inc. (OTCM) announced that Medinotec Inc. (MDNC) has qualified to trade on the OTCQX® Best Market. This significant milestone allows Medinotec to enhance visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards and adhere to best corporate governance practices. Medinotec is focused on expanding its operations in the U.S. market, particularly with its award-winning Trachealtor product. CEO Gregory Vizirgianakis and CFO Pieter van Niekerk expressed pride in this achievement, emphasizing the company's commitment to shareholder value and transparency.
OTC Markets Group Inc. (OTCM) announced that MCF Energy Ltd. (TSX-V: MCF; OTCQX: MCFNF) has upgraded to the OTCQX Best Market from the Pink market, enabling better trading for U.S. investors. This transition signifies compliance with high financial standards and best practice governance, providing MCF Energy with increased visibility and access to capital markets. The company, established in 2022, focuses on exploring natural gas resources in Europe and aims to contribute to energy security with projects in Austria and Germany.
OTC Markets Group reported a 2% increase in gross revenues for 2022, totaling $105.1 million. Operating income fell 3% to $36.8 million, with a profit margin of 36.1%, down from 38.0% in 2021. Net income for 2022 was $30.8 million, a 1% rise, leading to a GAAP diluted EPS of $2.53. The fourth quarter showed gross revenues of $27.3 million, up 4% year-over-year, but operating income dropped 8% to $9.9 million. Shareholder returns included $29.1 million in dividends and buybacks, an 8% increase compared to 2021. A quarterly dividend of $0.18 per share was announced for Q1 2023.
OTC Markets Group Inc. (OTCM) announced that Aker BP ASA, a leading independent oil and gas producer in Norway, has upgraded to the OTCQX® Best Market from the Pink® market. With an $18.5 billion market cap, Aker BP ASA will now trade under the symbols “AKRBF” and “AKRBY.” This upgrade aims to enhance trading transparency for U.S. investors and aligns with Aker BP’s growth strategy, which includes plans for significant developments in profitable oil fields. The company produces over 400,000 barrels of oil equivalent daily, boasting low-cost operations and minimal emission intensity in the sector.
OTC Markets Group Inc. (OTCM) announced that SPENN Technology A/S (OTCQX: SPNNF) has graduated to the OTCQX® Best Market from the OTCQB® Venture Market, effective March 2, 2023. This transition allows SPENN Technology to increase visibility and access to U.S. investors, enhancing liquidity and trading volume for its securities. CEO Jens Glaso expressed optimism regarding the benefits this upgrade will bring to shareholders. The OTCQX Market requires adherence to high financial standards and best practices in corporate governance, marking a significant milestone for SPENN Technology as it aims to strengthen its position in the U.S. market.
OTC Markets Group Inc. (OTCM) will release its financial results for the fourth quarter and fiscal year ending December 31, 2022, on March 8, 2023, after market close. A conference call and webcast are scheduled for March 9, 2023, at 8:30 a.m. ET, where management will discuss these results in detail. Participants can register for the live call to ask questions. The earnings release, transcript, and management presentation will be available on the company's Investor Relations website.
OTC Markets Group Inc. (OTCM) announces that Hafnia Ltd. (OTCQX: HAFNF) has upgraded to the OTCQX® Best Market from the Pink® market. This upgrade, effective on February 28, 2023, allows Hafnia to trade under the symbol HAFNF, enhancing transparency for U.S. investors. As a $2.5 billion market cap company with a significant fleet of over 225 tankers, this transition is expected to attract greater interest from U.S. investors. Hafnia aims to leverage its OTCQX listing for better trading volumes and shareholder returns. SEB Securities, Inc. sponsored this OTCQX upgrade.
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