London-listed Harena Rare Earths’ ordinary shares of 0.5p each have been approved to trade on the OTCQB Venture Market in the US, and will start cross-trading at market open on November 18.

The company, which is focused on the Ampasindava ionic clay rare earth project, in Madagascar, continues to maintain its primary quotation on the LSE main market.

The OTCQB, recognised by the US Securities and Exchange Commission as an established public market, serves as a platform for both domestic and international growth-stage companies.

Admission to the OTCQB requires companies to maintain up-to-date financial reporting, meet minimum bid price criteria and complete a yearly verification and management certification process.

The company says it believes that cross-trading on both the LSE main market and the OTCQB will not only increase liquidity in its shares, owing to a broader pool of investors, but will also provide investors in the US with easier access to trading in Harena’s ordinary shares.

Harena informs that it has seen considerable investor interest from the US and, given the company’s strategic focus on this market for the procurement of its rare earth deposits, the OTCQB market offers strong synergies as it looks to further the development of the Ampasindava project.

As cross-trading on the OTCQB market will now be initiated, Harena has appointed US-based publicly traded broker-dealer Siebert Financial as its US broker and financial adviser.

Harena’s board believes this is an important step in broadening access to US investors and supporting the effective promotion of the company’s shares in the US.

“The ever-growing demand for critical minerals from the US and the focus on breaking its reliance on China makes it a key market for Harena. As such, the initiation of Harena’s cross-trading on the OTCQB marks an important milestone for the company as we further broaden our investor base by making it easier for US investors to gain exposure to our world-class Ampasindava project,” Harena executive chairperson Ivan Murphy avers.

“At Siebert, we would like to use this engagement to build a long-term relationship with Harena and its US investors. As such, we will support outreach to investors, provide market colour, provide access to individuals in our professional network and serve as a trusted adviser to the company as it navigates US capital markets,” Muriel Siebert & Co investment banking co-head Ajay Asija says.