CHARLOTTE, N.C.--(BUSINESS WIRE)--IperionX Limited (“IperionX” or “Company”) (NASDAQ: IPX, ASX: IPX) is pleased to announce that the Company’s registration statement on Form 20-F to register its ordinary shares with the United States Securities and Exchange Commission (“SEC”) has been declared effective, and its American depositary shares (“ADSs”) have been approved for listing on the Nasdaq Capital Market (“Nasdaq”).
Trading on Nasdaq is expected to commence in the U.S. on or about June 21, 2022 under the ticker symbol “IPX”. Each ADS represents ten (10) ordinary shares in the Company. IperionX will maintain its existing listing of ordinary shares on the Australian Securities Exchange (“ASX”) under the same symbol “IPX”.
Listing on Nasdaq in the United States will enhance the visibility and accessibility of IperionX to the extensive U.S. market of retail and institutional investors and allow investors to trade IperionX’s ADSs directly in the U.S., in U.S. dollars during normal U.S. trading hours, including through their retail, online or institutional broker-dealer.
The SEC registration and Nasdaq listing process does not include any capital raising.
Anastasios (Taso) Arima, IperionX’s CEO and Managing Director said:
“Nasdaq is one of the world’s premier venues for growth companies, and we believe this listing will provide increased liquidity for current investors and will increase IperionX’s exposure to institutional and retail investors in the United States. The Nasdaq listing comes at an important time in IperionX’s growth path as we look to scale our patented titanium metal powder technologies in the U.S. using 100% recycled titanium feedstock and progress our rare earth and titanium critical mineral project in Tennessee with the completion of an economic scoping study.”
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities.
IperionX’s mission is to be the leading developer of low-carbon, sustainable, critical material supply chains focused on advanced industries including space, aerospace, electric vehicles and 3D printing. IperionX’s titanium technologies have the potential to produce titanium products which are sustainable, 100% recyclable, low-carbon intensity and at product qualities which exceed current industry standards. The Company also holds a 100% interest in the Titan Project, located in Tennessee, U.S., which is rich in rare earth minerals.
Forward Looking Statements
Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding the timing of any Nasdaq listing, plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation, as well as other uncertainties and risks summarized in filings made by the Company from time to time with the Australian Securities Exchange and in the Form 20-F filed with the U.S. Securities and Exchange Commission.
Forward looking statements are based on the Company and its management’s assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.
There may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Except as required by applicable law or stock exchange listing rules, the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.