Surge Battery Metals Submits Application to List on NASDAQ Capital Markets
Surge Battery Metals (NILI.V), which saw its shares drop more than 7% yesterday, submitted an initial application to list its common shares on the Nasdaq Capital Market, it said on Wednesday.The proposed Nasdaq listing is intended to support its longer-term capital markets strategy by "increasing its visibility with U.S. institutional and retail investors, broadening its potential shareholder base, and enhancing trading liquidity over time", the company added."This application reflects an important step in positioning Surge for a potential transition to a more senior U.S. exchange," said Chairman Graham Harris. "With approximately C$30 million in treasury, a fully funded pre-feasibility study, and a high-quality lithium asset, we believe the Company is well positioned to continue executing its strategy and, broaden its capital markets profile."Shares of the company closed down 7.4% to $0.63 on Tuesday on the TSX Venture Exchange.
