Deep Sea Minerals (SEAS.CN) has filed a listing application with the Nasdaq Capital Market in connection with a planned uplisting of its common shares in the United States, the company said on Friday.
The company believes that a U.S. exchange listing, if completed, would complement its existing listing on the Canadian Securities Exchange and position it to access deeper and more diversified capital markets as it continues to advance its development objectives.
The proposed listing of the company's common shares on the Nasdaq remains subject to satisfaction of Nasdaq's initial listing requirements, receipt of all required regulatory approvals, and completion of customary listing processes, said the company.
There can be no assurance that the company's application will be approved or that a listing on the Nasdaq will be completed, it added.
"We believe that pursuing a U.S. exchange listing represents an important step in Deep Sea Minerals' long-term growth strategy," said James Deckelman, Chief Executive Officer of Deep Sea Minerals. "A listing on the Nasdaq is expected to enhance our visibility within the global investment community, broaden access to institutional and retail investors, and support increased liquidity for our shareholders as we continue advancing our development objectives."
Shares of the company were last seen up $0.18 at $1.68 on the Canadian Securities Exchange.
Price: $1.70, Change: $+0.20, Percent Change: +13.33%