Thomson wraps up entitlement offer and gains access to world’s biggest market
Investors have demonstrated their confidence in Thomson and its projects by oversubscribing for a $138,859 options issue to help fund exploration activity.
It comes as the company dual lists on the US OTCQB Market under the code TMZRF to provide current and potential North American investors with appropriate accessibility and liquidity to invest in the company.
Thomson Resources (ASX:TMZ) plans to use the proceeds from the entitlement offer to fund exploration on its projects such as the Webbs and Conrad silver projects, Mt Carrington silver-gold project, Texas silver project and Silver Spur silver project.
The company had offered eligible shareholder one option priced at 0.1c and exercisable at 11.5c on or before 28 October 2024 for every four existing shares.
Listing on the OTCQB gives Thomson access one of the world’s largest investment markets in the world at nominal cost and no additional compliance requirements.
It will now set up a DTC facility to complement the OTCQB listing.
This will reduce the cost of trading for US residents and is done by making the company’s ordinary shares eligible for settlement via The Depository Trust Company, which provides clearing and settlement efficiencies by making “book-entry” changes to ownership of securities.
“Dual listing on the OTCQB provides Thomson Resources access to one of the largest investment markets in the world. Broadening our exposure in the global investment community provides current and potential investors with accessibility and liquidity to invest in the company,” executive chairman David Williams noted.
This article was developed in collaboration with Thomson Resources, 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.