Bannerman begins trading on OTCQX
Developer of the Etango-8 Uranium project in Namibia, Bannerman Energy has started share trading on the OTCQX in the US, after having been upgraded from the OTCQB.
The OTCQX is the highest quality tier of OTC markets and offers trading in companies that are not listed on traditional exchanges.
The company, which will continue to trade under the OTC market symbol BNNLF, said on Wednesday that the approval to trade on the OTCQX was a significant corporate milestone, and appropriately timed ahead of the definitive feasibility study for the Etango-8 project, in Namibia, which is due for completion in the December quarter.
“Bannerman’s upgrade to the OTCQX reflects our strategy to introduce the company to a broader international audience. The more highly regulated financial and corporate governance requirements of the OTCQX are attractive to many larger investors and specialist funds,” said Bannerman MD and CEO Brandon Munro in a statement this week.
Munro said the recognition presents a timely progression for Bannerman, as progress has been made on the feasibility study evaluating the transition of their Etango-8 project from development to production.