White Rock Minerals Ltd Gets DTC Approval for OTC E-Commerce
âWe receive inquiries almost daily from US investors who have had difficulty purchasing our shares and are happy to report that we have obtained DTC eligibility, effective immediately. This should simplify trading and improve liquidity with a larger pool of investors, âMD said.
White Rock Minerals Ltd (ASX: WRM, OTCQX: WRMCF) has made it much easier for US investors to trade the company’s shares on the OTCQX by getting approval from the Depository Trust Company (DTC).
This enables real-time electronic clearing and settlement in the United States for its OTCQX-listed common stock through the Depository Trust & Clearing Corporation (DTCC).
In addition to streamlining the trading process, this approval will improve the liquidity of White Rock shares on the OTCQX by significantly expanding the pool of brokerage firms that will allow their clients to trade the shares.
Online brokers such as Ameritrade, Fidelity, Charles Schwab (NYSE: SCHW), and E-Trade all offer OTCQX transactions.
White Rock Managing Director and CEO Matt Gill said, âWe are thrilled to have DTC e-commerce as White Rock shares can now be traded in USD for those wishing to do so in the North Timezone. American.
âWe receive inquiries almost daily from US investors who have had difficulty purchasing our shares and are happy to report that we have obtained DTC eligibility, effective immediately.
“This should simplify trading and improve liquidity with a larger pool of investors.”
Benefits of OTC trading
DTC is a subsidiary of DTCC, a US company that manages electronic clearing and settlement of publicly traded companies.
Three key advantages of trading OTCQX: WRMC stock:
- Transactions and settlements in US dollars (USD);
- Trade in the North American time zone; and
- WRMCF is the same class of common stock as stocks traded by ASX (White Rock Minerals Ltd (ASX: WRM, OTCQX: WRMCF)), not a synthetic. The shares are simply entered in two different share registers.
Investors should ask their respective brokers if OTC stocks are available.
âWe would like to thank our transfer agent Dynamic Stock Transfer, our sponsor OTC MCAP LLC and our legal counsel Rimon Law,â added Gill.
The strengths of White Rock
White Rock, a near-stage gold explorer and producer, has three assets:
- â¢ Key Asset, Red Mountain / Last Chance – VMS Zinc Silver Polymetallic and IRGS Gold Project of Global Importance in Alaska, a Tier 1 jurisdiction;
- â¢ New asset, Woods Point – Victorian Gold Project. Bring new strategy and new capital to a large 660 square kilometer exploration land complex and high grade gold mine (past production> 800,000 ounces at 26 g / t); and
- â¢ Mt Carrington – a short-term production asset: JORC resources for gold and silver, on ML with PFS and existing infrastructure, with EIS and DFS advanced by partner JV.