Harena Rare Earths Plc (LSE: HREE), the rare earths company focused on the Ampasindava ionic clay rare earth project in Madagascar (the ‘Ampasindava Project‘), is pleased to announce that its ordinary shares of 0.5 pence each (‘Ordinary Shares‘) have been approved to trade on the OTCQB Venture Market (‘OTCQB‘) in the United States (the ‘U.S.‘) and will commence cross-trading on the OTCQB at market open today under the ticker symbol ‘OTCQB: CRMNF’. The Company continues to maintain its primary quotation on the London Stock Exchange’s Main Market (the ‘Main Market‘).
The OTCQB, recognised by the U.S. Securities and Exchange Commission as an Established Public Market, serves as a leading platform for both domestic and international growth-stage companies. Admission to the OTCQB requires companies to maintain up-to-date financial reporting, meet minimum bid price criteria, and complete an annual verification and management certification process. Harena was advised during the admission process by Donohoe Advisory Associates LLC (‘Donohoe Advisory‘).
The Company believes that cross-trading on both the Main Market and the OTCQB will not only increase liquidity in its shares, thanks to a broader pool of investors, but will also provide investors in the United States with easier access to trading in Harena’s ordinary shares.
Harena has seen considerable investor interest from the U.S. and given the Company’s strategic focus on the U.S. market for the procurement of its rare earth deposits, the OTCQB market offers the Company strong synergies as it looks to further the development of the Ampasindava Project.
Appointment of Siebert as U.S. Broker and Financial Adviser
As cross-trading on the OTCQB market will now be initiated, Harena has appointed Siebert Financial Corporation (‘Siebert‘) as the Company’s U.S. broker and financial advisor.
The board of directors of Harena (the ‘Board‘ or the ‘Directors‘) believes that the appointment of Siebert is an important step in broadening access to U.S. investors and supporting the effective promotion of the Company’s shares in the U.S.
Siebert (NASDAQ: SIEB) is a publicly traded broker-dealer in the U.S. with approximately US$20 billion in assets under management through its retail advisors. Headquartered in Miami, Siebert’s investment banking practice provides advisory and financing solutions to a broad range of industries with major offices in New York, Washington DC and Los Angeles, and a presence in more than ten additional U.S. locations.
Ivan Murphy, Executive Chairman of Harena, said:
‘The ever-growing demand for critical minerals from the U.S. and the focus on breaking its reliance on China makes it a key market for Harena. As such, the initiation of Harena’s cross-trading on the OTCQB marks an important milestone for the Company as we further broaden our investor base by making it easier for U.S. investors to gain exposure to our world-class Amapsindava Project.’
Ajay Asija, Co-Head of Investment Banking, Muriel Siebert & Co., said:
‘At Siebert we would like to use this engagement to build a long-term relationship with Harena and its US investors. As such we will support outreach to investors, provide market colour, provide access to individuals in our professional network, and serve as a trusted advisor to the Company as it navigates U.S. capital markets.’
For further information please contact:
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Harena Rare Earths Plc Ivan Murphy, Executive Chairman Allan Mulligan, Executive Technical Director |
+44 (0)20 7770 6424 |
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Allenby Capital Limited – UK Financial Adviser & Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking) |
+44 (0)20 3328 5656 info@allenbycapital.com |
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Muriel Siebert & Co. – US Financial Adviser & Broker Ajay Asija, Co-Head of Investment Banking |
+1 (917) 902 7823 aasija@siebert.com |
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Celicourt Communications – Public Relations Mark Antelme / Charles Denley-Myerson |
+44 (0)20 7770 6424 harena@celicourt.uk |
Notes to editors
Harena (www.harenaresources.com) is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar (Harena’s interest is 100%). The project hosts one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals, specifically heavy rare earths, including neodymium (Nd), dysprosium (Dy), and praseodymium (Pr), which are critical for the composition of neodymium magnets (NdFeB). Harena is committed to low-impact, high recovery mining, providing a sustainable supply of critical minerals for the global energy transition and military defence industries as well as meeting the ever-growing demand for NdFeB from the robotics sector.
About Donohoe Advisory Associates LLC
Donohoe Advisory Associates is a premier provider of specialized consulting and advisory services for companies and law firms navigating the full OTC Markets and national exchange listing process. With extensive expertise in regulatory requirements, disclosure standards, and market eligibility, Donohoe Advisory supports issuers in preparing, submitting, and managing successful applications across the OTC marketplace including OTCQB, OTCQX, OTCID, Form 211 submissions, and ongoing compliance oversight. The firm led Harena Rare Earth’s OTCQB application and coordinated the successful clearance of its Form 211, helping position the company for enhanced visibility and market access in the U.S. All principals of Donohoe Advisory are former NYSE, Nasdaq, and OTC Markets officials.
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