Shares in Harena Rare Earths (HREE) have been approved for trading on the OTCQB Venture Market in the United States.
Trading will commence today under the ticker symbol OTCQB: CRMNF.
The company continues to maintain its primary quotation on the London Stock Exchange's Main Market, and is progressing with the development of its Ampasindava rare earths project in Madagascar.
In conjunction with the OTCQB listing, Harena has appointed Siebert Financial Corporation as its US broker and financial advisor.
The appointment of Siebert is part of a process of broadening the company’s access to U.S. investors and supporting the effective promotion of the company's shares in the U.S.
Siebert is a publicly traded broker-dealer with approximately US$20 billion in assets under management through its retail advisors. Headquartered in Miami, Siebert's investment banking practice provides advisory and financing solutions to a broad range of industries with major offices in New York, Washington DC and Los Angeles, and a presence in more than ten additional U.S. locations.
"The ever-growing demand for critical minerals from the U.S. and the focus on breaking its reliance on China makes it a key market for Harena,” said Ivan Murphy, executive chairman of Harena.
“As such, the initiation of Harena's cross-trading on the OTCQB marks an important milestone for the company as we further broaden our investor base by making it easier for US investors to gain exposure to our world-class Ampasindava project."
View from Vox
The new OTCQB listing and the appointment of Siebert go a long way combined towards realising Harena’s established strategy of increasing its exposure to the US. The Ampasindava project lies on the coast of Madagascar, and the plan is to ship product directly into US markets. The involvement of US investors and potential partners will be crucial in taking the company on to its next steps.