Plateau Uranium Inc. has received notification that its common shares have been approved for trading on the OTCQB market in the United States, with trading commencing at the opening on Sept. 29, 2017, under the ticker symbol PLUUF. The OTCQB market is a venture marketplace for early-stage and developing companies operated by OTC Markets Group Inc. The company’s common shares will continue to trade on the TSX Venture Exchange.
The listing facilitates trading in Plateau Uranium common shares for U.S. investors and in U.S. dollars and recognizes the importance of the company’s stakeholders, based in the United States, as the company advances the company’s Peruvian uranium-lithium projects.
Ted O’Connor, chief executive officer of Plateau Uranium, stated: “This listing was undertaken to better serve the needs of our growing U.S. investor base and is another step in the long-term development of the company.
“The U.S. currently has the world’s largest existing nuclear fleet requiring 50 million pounds U3O8 annually, yet imports over 90 per cent of its required uranium. The current U.S. energy administration has highlighted its focus on energy security, electrical grid stability, reducing greenhouse gas emissions and air pollution and has highlighted nuclear energy as an important part of the current and future energy mix for the country. This bodes well for companies like Plateau Uranium that anticipates significant uranium production from a stable, mining-friendly jurisdiction in the Americas. Our plans to have production on-line in the early 2020s time frame can feed a U.S. and global nuclear energy market that is growing at a faster pace than at any time in the past 20 years.
“Global battery production will see extensive growth in the coming years from both electrified vehicles and energy grid storage requirements. This is exactly why we are working towards unlocking value from lithium co-production from our uranium projects with lowest-quartile uranium production cost potential. The OTCQB listing will allow increased U.S. investor participation in Plateau Uranium’s future growth.”
Ian Stalker, chairman, commented: “Vehicle electrification plans and forecasts not only show substantial growth for battery metals like lithium, but also highlights the need for growth in low carbon electricity generation, which is an optimistic time for investors in these sectors. With Plateau Uranium, both exciting sectors converge, and we are pleased to provide U.S. investors the ability to more easily participate in Plateau Uranium’s bright future as a uranium and lithium producer.”
About Plateau Uranium Inc.
Plateau Uranium is a Canadian uranium-lithium exploration and development company focused on its properties on the Macusani plateau in southeastern Peru. The company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 square kilometres) situated near significant infrastructure.
Source: Plateau Uranium