Vancouver- based Ceylon Graphite Corp. announces that its common shares have been approved for trading on the OTCQB Venture Market in the United States from 3rd of December this year.
Ceylon Graphite owns rights to several graphite mines in Sri Lanka and already started production in at least one of the mines.
The Company’s U.S. listing is now trading under the symbol “CYLYF” while the Company’s primary Canadian listing is continuing to trade on the TSX Venture Exchange under “CYL”.
The Company’s common shares are eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”). DTC eligibility allows for cost-effective clearing and secure settlement, in turn simplifying and accelerating the settlement process for investors.
“We are very pleased to have our US trading status upgraded to OTCQB. This will provide the Company with greater market exposure, increase our visibility within the global investment community, further broaden our shareholder base, and increase the volume of our tradable securities” Ceylon Graphite, CEO, Bharat Parashar said.
The OTCQB has been setup targeting early-stage and developing U.S. and international companies. To be eligible, companies need to be current in their reporting and undergo an annual verification and management certification process.