Energy Fuels seeks stock-exchange listing
Energy Fuels Inc. is seeking to be listed on a United States stock exchange, the company announced.
The company on Tuesday submitted its application to be listed on an unidentified exchange.
The two major stock exchanges in the United States are the New York Stock Exchange and the NASDAQ.
They also completed a reverse split, or share consolidation, of 50 to 1, to boost the price of its shares and make it more attractive to investors.
“We currently have almost 1 billion shares outstanding, as we’ve mainly grown through the issuance of shares,” said Curtis Moore, director of investor and public relations.
Energy Fuels’ pre-consolidation price in the range of 12 cents per share was a barrier, Moore said.
“Indeed, there are many institutional investors that cannot own us, even if they wanted to,” Moore said. “In short, if someone wants to own Energy Fuels, we want them to be able to do so.”
As a result of the consolidation, Energy Fuels shares will trade over the counter for 20 days under the symbol “EFRFD.”
The “D” was added by the U.S. Financial Industry Regulatory Authority to denote the consolidation.
After the 20-day period, the company’s trading symbol is to revert to EFRFF.
Energy Fuels has been listed on the Toronto stock exchange.
In addition to seeking a new stock market, Energy Fuels completed its acquisition of Strathmore Minerals as of Aug. 30, Moore noted.