SYDNEY: Hot Chili Limited (ASX:HCH), an Australia-based mineral exploration company, announced that its application to join the US-based OTCQX market has been accepted and the Company’s shares will commence trading in the US on the OTCQX Best Market under the ticker OTCQX: HHLKF on 7 April 2022.
The OTCQX Best Market is the highest tier of OTC Markets Group’s market platforms, on which 12,000 US and international securities trade. The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
Hot Chili Limited has upgraded to OTCQX from the OTCQB Venture Market where it has been trading since 6 May 2021. By upgrading to the OTCQX the Company is positioned to enhance its visibility and broaden its access to the extensive market of US retail, high net worth and institutional investors.
The primary advantages to North American investors of the Company’s inclusion on the OTCQX platform include:
• It allows trading of HCH securities in the local time zone; appealing to investors and brokers who prefer securities that trade and settle during US trading hours.
• Trades and settlements are conducted in US Dollars with no exchange rate risk or additional FX fees.
The Company’s shares will continue to trade on the Australian Securities Exchange and the TSX Venture Exchange under the symbol HCH, with its shares now also tradeable on the OTCQX market (www.otcmarkets.com).
Christian Easterday, Managing Director Hot Chili, commented: “We are delighted to be moving up to OTCQX, as we deliver the next level of growth. An upgrade to OTCQX is a logical next step for Hot Chili. This designation is OTC Market’s top tier and a step towards greater liquidity and support to our active North American investor outreach.”
Hot Chili is developing the large-scale Costa Fuego Project – a copper hub comprising the Cortadera, Productora and San Antonio deposits, all of which have updated Mineral Resource Estimates (MRE) and lie proximal to one another at low-altitude elevations (800m to 1,000m), 600km north of Santiago and within 50km of port, making it one of the lowest altitude major developments in the Americas.