Immuron seeks better access to US investors

Company News

Immuron (ASX: IMC) has announced it has submitted the necessary filing documents to upgrade its American Depository Receipts (ADRs) program of OTC 'pink sheets' to an OTCQB Listing.

The company said OTCQB is recognised as an Established Public Markets platform by the US Securities and Exchange Commission.

The decision follows the company's recent roadshow in the US.

The OTC is a decentralised market where securities not listed on a major exchange are traded directly and electronically by market participants.

According to the company, the OTCQB listing will enable it to have a direct link to a diverse network of brokers and dealers who can provide liquidity and execution services for its securities in the US.

"This is seen by the Board of Immuron as the next step in the expansion and diversification of Immuron's shareholder investment base, particularly as the US market continues to recognise the value proposition which Australian biotechnology companies, such as Immuron, offer to prospective investors and shareholders," it said.

The company also said it intends to apply for a full US National Exchange listing in the coming months.