- Peninsula Energy (PEN) has begun trading on the OTCQB Venture Market under the ticker code PENMF
- In mid-January, Peninsula announced it had begun trading on the U.S. over-the-counter (OTC) Pink Market
- The OTC Pink Market is the lowest and most speculative tier of the three marketplaces for trading OTC stocks
- The upgrade to the OTCQB comes in response to strong trading volumes after trading commenced on the OTC Pink Market
- The OTCQB is the middle tier for OTC stocks and consists of mainly early-stage and international companies that are not yet able to qualify for the OTCQX
- OTC markets allow shares to be traded directly between investors rather than through a formal exchange such as the ASX or NYSE
- Peninsula is up 6.25 per cent and shares are trading at 17 cents
Peninsula Energy (PEN) has begun trading on the OTCQB Venture Market under the ticker code PENMF.
In mid-January, Peninsula announced it had begun trading on the U.S. over-the-counter (OTC) Pink Market.
The OTC Pink Market is the lowest and most speculative tier of the three marketplaces for trading OTC stocks.
The upgrade to the OTCQB comes in response to strong trading volumes after trading commenced on the OTC Pink Market.
The OTCQB is the middle tier for OTC stocks and consists of mainly early-stage and international companies that are not yet able to qualify for the OTCQX.
It primarily consists of shell companies, penny stocks and small foreign companies.
OTC markets allow shares to be traded directly between investors rather than through a formal exchange such as the ASX or NYSE.
While they are generally riskier and more prone to manipulation, it is easier to trade between international parties.
“U.S.-based investors have demonstrated a keen awareness of Peninsula and our flagship Lance Project located in the state of Wyoming but they have been limited to trading of shares during Australian market hours,” CEO and Managing Director Wayne Heili said.
“We are very pleased to now offer access to Peninsula securities on the U.S.-based OTCQB Venture Market, only weeks after commencing trading on the OTC Pink Market,” he added.
Peninsula is up 6.25 per cent and shares are trading at 17 cents at 12:22 pm AEDT.