European Metals Holdings Ltd (LON:EMH) is set to increase its exposure to investors in the United States.
It has hired Deutsche Bank for an American Depositary Shares (ADS) facility and it will have its ADS shares listed on the OTC Market, starting in July. Each ADS unit will represent 20 ordinary European Metals shares.
The company said it intends to run an extensive marketing campaign to begin to target US investors, alongside efforts to build relationships with US banks, green energy funds, institutional investors and brokers.
“Launching an ADS program in the United States signals a key milestone as we drive development forward at our Cinovec Project and boost visibility among US investors,” said executive chairman Keith Coughlan.
“We will begin an extensive US marketing campaign with the ADSs and Nasdaq International Designation to enable investors to trade the ADS electronically ‘commission free’ on most retail trading platforms such as Charles Schwab, E-Trade, TD Ameritrade in US dollars, during US trading hours.”
Coughlan added: “Our focus will be to attract US and Global green energy funds and institutional investors who recognise the significance of the Cinovec Project, its ESG principles and potentially low carbon footprint.
“We continue to be highly encouraged by the results of our Definitive Feasibility Study and look forward to updating the market on project development plan.”
European Metals noted that its proposed listing on the Prague Stock Exchange has been postponed, at t the suggestion of the exchange.
The Cinovec project, in Czech Republic, is host to the largest lithium resource in Europe, and one of the largest undeveloped tin resources in the World.
A recently completed study confirmed Cinovec among the lowest cost hard rock lithium projects in the World.