Primary Energy Metals to uplist to OTC Venture Market

Primary Energy Metals Inc () (OTCMKTS:PEMTF) announced Thursday that it has won approval to uplist its shares to the OTC Venture Market from the Pinks.

The Vancouver-based exploration and development company will continue to trade over-the-counter under the symbol PEMTF while its shares will continue to trade on the Canadian Stock Exchange under PRIM and on the Frankfurt Exchange under 1WZ:GR.

READ: Primary Energy Metals looks back at 'pivotal' 2018; amends Exco deal

No details of when the OTC uplisting will take place were provided in the company’s statement.

In other news, the company has secured DTC eligibility from the Depository Trust Company to allow for electronic settlement and transfer of its shares in the US.

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“We expect our presence on the OTC, together with having DTC eligibility, to further enhance trading liquidity and provide additional exposure to US and institutional investors,” said Patrick Morris, Primary’s CEO in a statement.

Primary Energy is engaged in the business of acquiring, exploring and developing vanadium, cobalt, copper and nickel-focused mineral resource properties. Its current projects include a gold/cobalt venture in Hazelton, British Columbia and Quebec as well as two vanadium permits in Spain.

Primary Energy Metals shares popped by 8.7% to US$0.023 in over-the-counter morning trade Thursday.

Contact Ellen Kelleher at [email protected]