OTC Markets Group Welcomes Allied Gold Corp. to OTCQX
Rhea-AI Summary
OTC Markets Group Inc. (OTCQX: OTCM) has announced that Allied Gold Corp. (TSX: AAUC; OTCQX: AAUCF) has qualified to trade on the OTCQX® Best Market, upgrading from the Pink® market. Allied Gold, based in Toronto, Canada, begins trading on OTCQX under the symbol 'AAUCF' on September 9, 2024. This upgrade provides transparent trading for U.S. investors and allows the company to utilize its home market reporting to make 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. Peter Marrone, Chairman and CEO of Allied Gold, expressed enthusiasm about the upgrade, stating it will allow a broader set of shareholders to invest while improving trading liquidity and unlocking value. JWTT Inc. acted as the company's OTCQX sponsor.
Positive
- Upgrade to OTCQX Best Market from Pink market
- Potential for broader shareholder base and improved trading liquidity
- Compliance with high financial standards and best practice corporate governance
Negative
- None.
News Market Reaction – OTCM
In the trading session that priced this news, OTCM declined 2.72%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Allied Gold Corp. (TSX: AAUC; OTCQX: AAUCF), based in Toronto, Canada, has qualified to trade on the OTCQX® Best Market. Allied Gold Corp. upgraded to OTCQX from the Pink® market.
Allied Gold Corp. begins trading today on OTCQX under the symbol “AAUCF.” 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.
“We are pleased to start trading on OTCQX which will allow a broader set of shareholders to invest in Allied Gold, while improving trading liquidity and unlocking value,” said Peter Marrone, Chairman and CEO of Allied Gold.
JWTT Inc. acted as the company’s OTCQX sponsor.
About Allied Gold Corp.
Allied Gold is a Canadian-based gold producer with a significant growth profile and mineral endowment which operates a portfolio of three producing assets and development projects located in Côte d'Ivoire, Mali, and Ethiopia. Led by a team of mining executives with operational and development experience and proven success in creating value, Allied Gold is progressing through exploration, construction and operational enhancements to become a mid-tier next generation gold producer in Africa and ultimately a leading senior global gold 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
