London-Listed Altona Rare Earths has announced that it has applied for its ordinary shares to be admitted to trading on the OTCQB Venture Market in the US.

The company, in a statement to shareholders, explains that it has submitted its application for its ordinary shares to be quoted on the OTCQB Venture Market, a recognised US trading platform for established and developing companies.

Altona says no new shares will be issued in connection with the OTCQB quotation, adding that admission remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements.

The company's shares will continue to trade on the LSE.

Altona says this application represents a natural and strategic step following the company's recent successful engagement with the US Trade and Development Agency (USTDA).

As announced on February 9, Altona says it received confirmation of USTDA support for the Monte Muambe rare earths project, in Mozambique, validating the project's relevance to US critical mineral supply chains.

The company says the signature of the grant agreement is imminent.

The board believes admission to trading on the OTCQB will provide North American institutional and retail investors with the same convenience to invest as those in the UK; increase the company's visibility among North American investors seeking exposure to critical minerals, particularly rare earths, as well as potential strategic partners; and enhance liquidity and broaden the company's shareholder base over time.

The company explains that the OTCQB's reporting and listing requirements align closely with those of major non-US stock exchanges, making seamless access straightforward for LSE Main Market companies such as Altona.

Altona expresses that this application represents an initial but important step in a broader strategic alignment with US partners and investors, adding that the board will continue to develop and evaluate supporting growth strategies as it advances the Monte Muambe rare earths project through its next phases of development.

"Our application to trade on the OTCQB follows the positive outcome of our engagement with USTDA and reflects the growing strategic alignment between Altona, our Monte Muambe project and US critical mineral priorities.

“With this foundational step now complete, we believe the momentum is right to begin strategically positioning the company towards the North American capital markets,” says CEO Cedric Simonet.