How do investors convert common shares into ADRs?

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Investors Can Convert Common Shares into ADRs by Instructing Their Broker or Custodian

Investors can convert First Phosphate common shares into American Depositary Receipts (ADRs) by directing their broker or custodian to deliver the common shares. This delivery process involves sending the common shares through CDS to The Bank of New York Mellon's (BNY) safekeeping account at CIBC Mellon. This conversion facility is available at no cost to participants until December 31, 2026, facilitated by BNY, which serves as the depositary bank for the ADR program.
Process for Conversion

To initiate the conversion of common shares to ADRs, investors must provide instructions to their broker or custodian. These instructions should specify the delivery of the First Phosphate common shares to BNY's safekeeping account. The shares are then moved via CDS to this designated account, enabling the conversion into ADRs.
Ongoing Conversion Availability

The opportunity for market participants to convert First Phosphate common shares into ADRs without incurring fees continues until December 31, 2026. This provision is managed by The Bank of New York Mellon, the appointed depositary bank responsible for the administration of the ADR program.
BNY's Role in ADR Management

The Bank of New York Mellon plays a central role in the issuance and cancellation of First Phosphate ADRs. BNY executes these actions based on the instructions received from various market participants, ensuring the smooth operation of the ADR facility. The common shares that underlie the ADRs are held in custody by BNY.

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How do investors convert common shares into ADRs?

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