PERTH, Australia, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Bannerman Resources Limited (ASX:BMN, NSX:BMN) (“Bannerman” or “the Company”) is pleased to advise that the Company’s ordinary shares have been approved for trading on the OTCQB Venture Market (“OTCQB”) under the symbol “BNNLF”.

HIGHLIGHTS

  • OTC Markets is a well-established trading platform in the US
  • “QB” quotation significantly expands global access to investment in Bannerman shares
  • U.S. and Canadian investors, in particular, will gain simpler, live-market trading access to BNNLF ordinary shares
  • Timing reflects increasing uranium sentiment, particularly in the U.S. where s232 trade investigation into uranium imports has increased investor awareness of uranium macro trends

The OTCQB is a U.S. trading platform operated by OTC Markets Group in New York. The OTCQB market, often referred to as a “QB” quotation, is structured to provide live-market trading during the North American business day in early-stage and developing companies that may hold primary listings in other markets. Eligibility for OTCQB quotation requires a company to undergo an annual verification and management certification process, meet minimum standards of financial reporting and transparency, and pass other tests relating to the company’s capital structure and share price.

Bannerman had already established a degree of liquidity on OTC Markets through a Pinks quotation under the symbol “BNNLF”. The decision to commence trading through the higher-profile OTCQB now enables Bannerman to engage a far greater network of North American investor, data and media partners, thereby significantly expanding the potential pool of investors in, and followers of, the Company from the U.S. and other jurisdictions.

Bannerman’s shares will continue to trade on ASX under its existing symbol “BMN”. The trading on OTC is non-dilutive to existing Bannerman shareholders.  No capital is being raised and no new shares are being issued to enable trading on the OTCQB.

Viriathus Capital LLC served as the Company’s financial advisor and the securities law firm Sichenzia Ross Ference Kesner LLP served as the Company’s OTC Markets Sponsor.

Bannerman’s Chief Executive Officer, Mr Brandon Munro, said, “We are delighted to be able to provide global investors with enhanced access to the Bannerman story through the OTC platform, at a time when uranium market dynamics are tightening. The enhanced accessibility and live-market opportunity that an OTCQB quotation offers North American investors is particularly timely, given uranium market dynamics have increasingly appeared on the radar of US retail and institutional investors following the s232 trade investigation into uranium imports. As a result of heightening geopolitical tension, investors are becoming increasingly aware of the vital role that African uranium must play in meeting increasing global uranium demand - and Bannerman offers compelling exposure to this dynamic.”

For further information please contact:

Brandon Munro
Chief Executive Officer
Perth, Western Australia
Tel: +61 (8) 9381 1436
info@bannermanresources.com.au
Robert Dalton
Company Secretary
Perth, Western Australia
Tel: +61 (8) 9381 1436
info@bannermanresources.com.au
Michael Vaughan (Media)
Fivemark Partners
Perth, Western Australia
Tel: +61 422 602 720
michael.vaughan@fivemark.com.au
   
About Bannerman - Bannerman Resources Limited is an ASX and NSX listed exploration and development company with uranium interests in Namibia, a southern African country which is a premier uranium mining jurisdiction.  Bannerman’s principal asset is its 95%-owned Etango Project situated near CNNC’s Rössing uranium mine, Paladin’s Langer Heinrich uranium mine and CGNPC’s Husab uranium mine. A definitive feasibility study has confirmed the viability of a large open pit and heap leach operation at one of the world’s largest undeveloped uranium deposits. From 2015 to 2017, Bannerman conducted a large scale heap leach demonstration program to provide further assurance to financing parties, generate process information for the detailed engineering design phase and build and enhance internal capability. More information is available on Bannerman’s website at www.bannermanresources.com.