Theta Gold Mines Ltd's (ASX:TGM) (OTCMKTS:TGMGF) OTCQB-listed shares are now eligible for electronic clearing and settlement through The Depository Trust Company (DTC) in the United States after DTC eligibility was approved.
DTC is a subsidiary of The Depository Trust & Clearing Corporation, part of the US Federal Reserve System that manages the electronic clearing and settlement of publicly-traded companies.
Attaining DTC eligibility is expected to simplify the process of trading and enhance liquidity of the company's shares on the OTCQB by greatly broadening the pool of brokerage firms that will allow their clients to trade the stock.
“Stock can be traded in USD”
Theta Gold chairman Bill Guy said the company was extremely pleased that it had obtained DTC eligibility.
“This means the company's stock can now be traded in USD for those who wish to do so in the American time zone.
“We would like to thank our DTC filing agent Glendale Securities, our transfer agent Dynamic Stock Transfer, our OTC Sponsor BRiley FBR and our legal advisor Lucosky Brookman for their efforts."
The three key advantages of trading TGMGF stock are:
- Trades and settlements are in US Dollars (USD);
- Trading occurs in the North American timezone; and
- TGMGF is the same class Ordinary Shares to ASX traded stock (Read More – Source