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Hot Chili Limited (ASX:HCH) (TSXV:HCH) (OTCQX:HHLKF) (the "Company") is pleased to announce that its application to join the US-based OTCQX market has been accepted and the Company's shares will commence trading in the US on the OTCQX® Best Market under the ticker OTCQX: HHLKF on 7 April 2022.
The OTCQX Best Market is the highest tier of OTC Markets Group's market platforms, on which 12,000 US and international securities trade. The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
Hot Chili Ltd has upgraded to OTCQX from the OTCQB® Venture Market where it has been trading since 6 May 2021. By upgrading to the OTCQX the Company is positioned to enhance its visibility and broaden its access to the extensive market of US retail, high net worth and institutional investors.
The primary advantages to North American investors of the Company's inclusion on the OTCQX platform include:
• It allows trading of HCH securities in the local time zone; appealing to investors and brokers who prefer securities that trade and settle during US trading hours.
• Trades and settlements are conducted in US Dollars with no exchange rate risk or additional FX fees.
The Company's shares will continue to trade on the Australian Securities Exchange and the TSX Venture Exchange under the symbol HCH, with its shares now also tradeable on the OTCQX market (www.otcmarkets.com).
Christian Easterday, Managing Director Hot Chili, commented:
"We are delighted to be moving up to OTCQX, as we deliver the next level of growth. An upgrade to OTCQX is a logical next step for Hot Chili. This designation is OTC Market's top tier and a step towards greater liquidity and support to our active North American investor outreach."
About Hot Chili
Hot Chili is developing the large-scale Costa Fuego Project - a copper hub comprising the Cortadera, Productora and San Antonio deposits, all of which have updated Mineral Resource Estimates ("MRE" or "resource") and lie proximal to one another at low-altitude elevations (800m to 1,000m), 600km north of Santiago and within 50km of port, making it one of the lowest altitude major developments in the Americas.
Costa Fuego's Indicated Resource is 725 Mt grading 0.47% CuEq (copper equivalent), containing 2.8 Mt Cu, 2.6 Moz Au, 10.5 Moz Ag, and 67 kt Mo and the Inferred Resource is 202 Mt grading 0.36% CuEq containing 0.6 Mt Cu, 0.4 Moz Au, 2 Moz Ag and 13 kt Mo.
Certain statements contained in this news release, including information as to the future financial or operating performance of Hot Chili and its projects may include statements that are "forward‐looking statements" which may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, and capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Hot Chili, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.
Hot Chili disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this news release or to reflect the occurrence of unanticipated events, other than as may be required by law. The words "believe", "expect", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward‐looking statements.
All forward‐looking statements made in this news release are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not a guarantee of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Details
Graham Farrell
+1 416-842-9003
Graham.Farrell@harbor-access.com
Investor Relations
Jonathan Paterson
+1 475-477-9401
Jonathan.Paterson@Harbor-Access.com
Managing Director
Christian Easterday
Company Website
https://www.hotchili.net.au/investors/
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