Share Name Share Symbol Market Type Share ISIN Share Description
Bradda Head Lithium Limited LSE:BHL London Ordinary Share VGG154091083 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -0.66% 7.475 7.25 7.70 7.525 7.475 7.525 176,510 15:12:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining - - - - 22

Bradda Head Lithium Ltd Proposed Listing on OTC Markets

18/10/2021 7:00am

UK Regulatory (RNS & others)

Bradda Head Lithium (LSE:BHL)
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RNS Number : 3040P

Bradda Head Lithium Ltd

18 October 2021

18 October 2021

Bradda Head Lithium Ltd.

("Bradda Head", "Bradda", or the "Company")

Proposed Listing on OTC Markets and North American Broker Engaged

Bradda Head Lithium Ltd. (AIM: BHL), the North America-focused lithium development group, is pleased to announce that it has started the process to list on the US OTC Markets platform. The Company's ordinary shares will be cross-traded on the OTCQB Board of the OTC Markets. This listing will be in addition to the existing quoting on the AIM of the Stock Exchange in London.

Bradda's 100%-owned lithium assets are located in Arizona and Nevada, and the company is developing these assets with the end-goal to produce low-carbon footprint, low operating cost, battery-grade lithium end-products. Currently the US produces c.5kt per year of LCE (Lithium Carbonate Equivalent), and forecasts estimate that c.250kt LCE will be needed by 2025 in the US for domestic supply.

The objective of applying to the OTCQB in New York is to provide efficient access to U.S. investors, enhance liquidity and facilitate a fair valuation for the Company going forward. The Company is of the view that through trading on the OTCQB, Bradda Head can engage with a significant network of U.S. investors, data distributors and media partners, ensuring that U.S. investors have access to the same level of information and disclosure that is available to investors in the United Kingdom, but through U.S.-facing platforms and portals used to conduct research.

Trading on the US OTC market will have no impact on the Company's existing ordinary shares trading on the AIM of the London Stock Exchange. No new ordinary shares will be issued as part of the cross-trade. The Group will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Channel and has no Sarbanes-Oxley or SEC reporting requirements. The OTCQB Market cross-trading facility will provide U.S. based investors with the ability to access Bradda Head's shares in U.S. dollars during U.S market hours.

The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for U.S. broker-dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Independent studies show that trading on the OTC by an international company positively affects the liquidity of its shares.

The Company will provide further updates as its shares are admitted to trading on OTCQB.

Bradda has also engaged Red Cloud to act as its broker in North America. Red Cloud is a well-known organisation within North America and has the capability to help Bradda engage with North American investors and help to share the Bradda story. Bradda's assets are located in Arizona and Nevada, and the combination of the OTC listing and the engagement of Red Cloud will help Bradda reach investors who want to invest in North American lithium stories.

Charles FitzRoy, CEO of Bradda Head, commented:

"We are delighted to have commenced the process of being admitted to trading on the OTCQB market.

"Given Bradda Head's strategy of developing critical US lithium projects to supply the domestic market,

the current aggressive exploration programme that we are undertaking and the significant interest in lithium in the US, we believe that listing on the OTC will enable us to gain greater visibility, further broaden our shareholder base and increase demand and liquidity in one of the world's major lithium markets.

"Red Cloud are a renowned and trusted North American broker with the ability to reach investors who can't trade AIM-quoted companies. Bradda's assets are in the US and we have had significant interest showing that the North American market is looking for investments in lithium companies in the US. "

For further information please visit the Company's website: www.braddaheadltd.com


 Bradda Head Lithium Limited          +44 (0) 1624 639 396 
 Charlie FitzRoy, CEO 
  Denham Eke, Finance Director 
 Beaumont Cornish (Nomad) 
  James Biddle/Roland Cornish         +44 20 7220 1666 
 Peterhouse (Joint Broker)            +44 207 469 0930 
 Charles Goodfellow 
  Duncan Vasey 
  Lucy Williams 
 Shard Capital (Joint Broker)         +44 207 186 9927 
 Damon Heath 
  Isabella Pierre 
 Red Cloud (North American Broker)    +1 416 803 3562 
 Joe Fars 
 Tavistock (PR)                       + 44 20 7920 3150 
 Nick Elwes                           braddahead@tavistock.co.uk 
  Oliver Lamb 
  Adam Baynes 

Notes to Editors

Bradda Head Lithium Ltd. is a North America-focused lithium development group. The Company currently has interests in a variety of lithium projects, the most advanced of which are in Central and Western Arizona: the Burro Creek project (Burro Creek East Project, and the Burro Creek West Project) and the Wikieup Project.

The Burro Creek East Project has an estimated an Inferred Mineral Resource (JORC) of 42.6 Mt of lithium bearing clays at an average grade of 818 ppm of lithium for 185,000 tonnes of lithium carbonate equivalent (LCE). The Burro Creek East Project also has additional exploration potential for extensions to the current model of between 50,000 to 300,000 tonnes of lithium carbonate equivalent.

The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada and Pennsylvania.

All Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure.

Bradda Head is quoted on the AIM market of the London Stock Exchange with the ticker of BHL.

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October 18, 2021 02:00 ET (06:00 GMT)

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