Grand Gulf Energy (ASX:GGE) begins trading on OTCQB – The Market Herald

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  • Grand Gulf Energy (GGE) begins trading on the OTCQB in the United States with stock code GRGUF
  • The OTCQB is the mid-tier for over-the-counter (OTC) equities and consists primarily of start-ups and international companies
  • Over-the-counter markets allow stocks to be traded directly between investors rather than through a formal exchange such as the ASX or NYSE
  • To register with the OTCQB, companies must meet high financial and securities reporting standards, pass a bid test and undergo an annual audit
  • Grand Gulf Energy ends the day 22.9% in the green with shares trading at 5.9 cents

Grand Gulf Energy (GGE) has started trading on the OTCQB in the United States with the code GRGUF.

The OTCQB is the mid-tier for over-the-counter (OTC) equities and consists primarily of early-stage and international companies that are not yet eligible for the higher-tier OTCQX.

It consists mainly of shell companies, penny stocks and small foreign companies.

To register with the OTCQB, companies must meet high financial and securities reporting standards, pass a bid test, and undergo an annual audit.

Over-the-counter markets allow stocks to be traded directly between investors rather than through a formal exchange such as the ASX or NYSE.

Although they are generally riskier and more prone to manipulation, it is easier to trade between international parties.

Trading on the OTCQB helps companies create shareholder value and obtain liquidity.

“With our assets and helium extraction partner located in the United States, Grand Gulf has attracted significant interest from North American-based investors,” said Managing Director Dane Lance.

“As the first potential entrepreneur Jesse #1 Pure Helium Well kicks off in mid-April 2022, it is time for OTCQB trading to improve the company’s visibility and accessibility to North American shareholders and media partners.

“An OTCQB listing makes it easy for U.S. investors to purchase Grand Gulf stock in their own
time zone and currency.

GGE’s primary listing will remain on the ASX with its secondary listing on the OTCQB.

Grand Gulf Energy ended the day 22.9% in the green with shares trading at 5.9 cents.

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