Brisbane, January 20, 2021 AEST (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX: LKE) (FR: LK1) (OTCMKTS: LLKKF) announced today that it has obtained DTC approval to enable real-time electronic clearing and settlement in the United States for its common shares listed on the OTCQB through the Depository Trust & Clearing Corporation ( “DTCC”).
The move will simplify trade and improve liquidity for investors in North America and around the world, as the lithium industry continues to recover from the acceleration of the electric vehicle revolution.
Lake first obtained a secondary compliance list on the OTC QB market with ticker code LLKKF in December 2019, with B. Riley FBR acting as OTC sponsor. The compliance requirements are essentially the same as the Australian Stock Exchange, with the announcements automatically uploaded to the OTC platform.
The company obtained full service eligibility from DTCC in November 2020 and is now able to perform electronic clearing and settlement in real time. DTCC is a subsidiary of the Depository Trust Company, a US company that manages electronic clearing and settlement of listed companies.
Online brokers such as Ameritrade, Fidelity, Charles Schwab, and E-Trade all offer OTCQB transactions. Investors should ask their respective brokers if OTC stocks are available for Lake.
The three key benefits of LLKKF OTC QB trading include:
1. Trading and settlement in US dollars (USD);
2. Trading in the North American time zone; and
3. LLKKF is the same class of ordinary shares as the shares traded on the ASX (ASX: LKE), recorded in two different registers.
Lake Resources Chairman Stu Crow said, “We are delighted to have secured DTC e-commerce, allowing Lake shares to be traded in USD for the convenience of North American investors. This should simplify trading and improve liquidity with a larger pool of investors.
“We would like to thank our transfer agent Dynamic Stock Transfer, our OTC sponsor B. Riley and our legal counsel Lucosky Brookman for facilitating this important step for Lake in expanding our global investor base.”
Lake Resources NL is a clean lithium developer using direct mining technology for the production of sustainable, high purity lithium from its flagship Kachi project in the lithium triangle. This direct extraction method offers a solution to two growing demands for electric vehicle batteries: high purity battery materials to avoid performance issues, and sustainable and responsibly sourced materials.
About Lake Resources NL
Lake Resources NL (ASX: LKE) (OTCMKTS: LLKKF) is a clean lithium developer using clean direct mining technology for the development of sustainable, high purity lithium from its flagship Kachi project, as well as three other lithium brine projects in Argentina. The projects occupy a prime location in the Lithium Triangle, where 40% of the world’s lithium is produced at the lowest cost.
This method will allow Lake Resources to be an efficient, responsible, environmentally friendly and competitive supplier of high purity lithium, easily scalable and in demand by manufacturers of electric vehicles and Tier 1 batteries.
Lake Resources NL