Vancouver, British Columbia – Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) (“Lancaster”), announces its common shares are now approved for trading on the OTCQB Venture Market in the U.S. under the symbol LANRF, effective October 10, 2023.
Lancaster will continue to trade on the Canadian Securities Exchange under its existing stock symbol LCR.
“Our listing on the OTCQB Venture Market is in harmony with our exploration roadmap. We’re curating a robust portfolio of lithium properties to address the burgeoning demand for U.S.-sourced lithium, driven by the rise in electric vehicles and further catalyzed by the U.S. Inflation Reduction Act of 2022, initiated by Biden, to augment domestic lithium supply,” says Lancaster Resources CEO, Penny White.
The OTCQB Venture is the premier marketplace for entrepreneurial and development stage U.S. and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB Venture quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
Lancaster also has the Depository Trust Company (“DTC”) full-service eligibility in the United States. DTC settlement services provide a more efficient and lower cost settlement process for investors and brokers trading Canadian securities in the United States. DTC eligibility enables shares of Lancaster to be distributed, settled, and serviced through DTC’s automated processes, thereby taking advantage of the efficiencies created in the electronic method of clearing securities and the resulting cost benefits that DTC provides through accelerated settlement processes.
About Lancaster Resources Inc.
Lancaster Resources is engaged in exploring energy transition metals to take advantage of the global shift towards decarbonization and electrification. Its Alkali Flat Lithium Project, in Lordsburg, New Mexico, USA, involves the exploration of a below-surface lithium brine target. Lancaster’s goal is to produce Climate-Positive Lithium there using direct lithium extraction technology and solar power. Lancaster also has the rights to acquire a 100% interest in the Trans Taiga Lithium Property located within the James Bay lithium district of Quebec. Lancaster plans to conduct exploration activities with a holistic view of stakeholder interests. Recognizing the importance of the diverse interest of various stakeholders, the company considers the environmental, social, and economic impacts of its activities, aimed at balancing resource exploration with sustainable practices, cultural sensitivity, and fair benefit distribution. Guiding Lancaster Resources’ journey is a skilled management and technical team, with collective involvement in over 15 commercial mineral discoveries, and endowed with extensive experience in the creation of lithium brine targets and the exploration and development of Lithium projects across Canada, the American West, Mexico, and South America.
Penny White, President & Chief Executive Officer, Lancaster Resources Inc.
Tel: 604 923 6100
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events, or Lancaster’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, ”estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward- looking information and are based on Lancaster’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the ability of Lancaster to execute its exploration plans, ability to enter into a long form agreement for the acquisition of the Trans Taiga Lithium Property, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties and integrate sustainable energy sources and innovative technologies for climate-positive resource production constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information.
Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.