Invictus shares just became easier to trade in the US
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Trading of Invictus’ shares on the OTCQB platform is expected to become a lot easier after it secured Depository Trust Company (DTC) approval.
The approval allows for real time electronic clearing and settlement of its OTCQB quoted shares through the Depository Trust & Clearing Corporation, greatly broadening the pool of brokerage firms allowing clients to trade the stock.
Trading on OTCQB already provides Invictus Energy (ASX:IVZ) with access to one of the largest investment markets in the world at nominal cost and with fewer additional compliance requirements compared to traditional major exchanges.
“DTC eligibility will streamline the process for both existing and prospective investors to participate in the company’s future anticipated growth,” managing director Scott Macmillan said.
“Approval comes at a pivotal time for the company, following the release of an updated prospective resource estimate for the Mukuyu prospect at our 80% owned and operated Cabora Bassa project in Zimbabwe.
“Mukuyu-1 is on track to spud next month and will target an estimated 20 trillion cubic feet and 845 million barrels of conventional gas condensate.
“A discovery at Mukuyu would not only be transformational for Invictus and our shareholders, but for Zimbabwe and the wider southern Africa energy market.”
The recent Makuutu resource upgrade takes what was already an exciting play up into the stratosphere as one of the largest conventional exploration targets globally.
Success of the maiden exploration well next month is potentially transformational to the company and Zimbabwe by opening up a substantial source of gas to energy hungry Southern Africa.
This article was developed in collaboration with Invictus Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.