Nasdaq is proud to welcome Piedmont Lithium Limited. (ASX:PLL, OTC – Nasdaq Intl Designation: PLLLY) to the Nasdaq International Designation Program. Piedmont Lithium will commence trading in the United States through American Depository Receipts (“ADRs”), via a Sponsored Level 1 ADR program with The Bank of New York Mellon as a depositary. Piedmont is the first pure Lithium Project to join Nasdaq International and holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between 1950 and 1990. The TSB is one of the premier localities in the world to be exploring for lithium pegmatites given its history of lithium bearing spodumene mining, favorable geology and ideal location with easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.
Piedmont Lithium Limited joins the following other Australian companies: Alexium International Group Limited (OTC – Nasdaq Intl Designation: AXXIY), Audio Pixels Holdings (OTC – Nasdaq Intl Designation: ADPXY), Clinuvel Pharmaceuticals (OTC – Nasdaq Intl Designation: CLVLY), Macquarie Group (OTC – Nasdaq Intl Select Designation: MQBKY) and QANTAS Airways Limited (OTC – Nasdaq Intl Select Designation: QABSY).
The Nasdaq International Designation program is designed for non-U.S.-based companies that have level 1 American Depository Receipts or shares that trade in the over-the-counter (OTC) market. As a member of the program, Piedmont Lithium can now leverage additional visibility in the U.S. investment community and resources for investor relations support.
Commenting on their recent expansion, Piedmont Lithium’s President and Chief Executive Officer Keith Phillips said:
“This is an outstanding outcome for the Company and we are excited to begin an extensive US marketing campaign with a Nasdaq International Designation which allows US investors to trade in US dollars, during US trading hours and at a share price more conducive to the US investment community.
“I have been very pleased with the initial feedback from our US marketing efforts to-date and this listing is consistent with our ‘US asset, US management, US listing’ strategy. We continue to be highly encouraged by the results of our Phase 2 drilling campaign and look forward to updating the market on our project development plans for what we believe to be the world’s most strategically located lithium project.”
Launched in December 2015, the Nasdaq International Designation is home to a diverse range of companies in innovative industries across the globe. In addition to Australia, our members hail from Canada, Japan, Germany, Brazil, the U.K., and the Netherlands. We look forward to helping our members grow their brand, increase liquidity and shape their personal message to the investment community.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.