Lake Resources OTC shares approved for real-time electronic clearing and settlement in US

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) (FRA:LK1) has secured DTC approval to allow real-time electronic clearing and settlement in the US for its OTCQB-listed common shares through the Depository Trust & Clearing Corporation (DTCC). This will simplify trading and enhance liquidity for investors in North America and globally, amid a continued upturn in the lithium sector on the back of the accelerating EV revolution. "Wider pool of investors"  Chairman Stu Crow said: “We are excited that we have secured DTC electronic trading, allowing Lake shares to be traded in USD for the convenience of North American investors. “This should simplify trading and enhance liquidity with a wider pool of investors." Key advantages Lake first gained a secondary compliance listing on the OTC QB market with the ticker code LLKKF in December 2019, with B Riley FBR acting as OTC Sponsor. Compliance requirements are essentially the same as the Australian securities exchange with announcements automatically uploaded onto the OTC platform. Three key advantages of the OTC QB trading of LLKKF comprise: Trading and settlement in US dollars (USD); Trading in the North American time zone; and LLKKF is the same class of Ordinary Shares as ASX traded stock (ASX:LKE), registered in two different registries. Crow added: “We would like to thank our transfer agent Dynamic Stock Transfer, our OTC Sponsor B Riley and our legal advisor Lucosky Brookman for facilitating this important step for Lake in broadening our global investor base." Shares have been more than 13% higher intra-day to A$0.17 after reaching A$0.18 on Tuesday, a new high of almost three years. Lake is a clean lithium developer utilising direct extraction technology for the production of sustainable, high purity lithium from its flagship Kachi Project within the Lithium Triangle. This direct extraction method delivers a solution for two rising demands of electric vehicle batteries – high purity battery materials to avoid performance issues, and sustainable, responsibly sourced materials.