Pele Mountain Resources Inc. (TSX Venture: GEM; OTCQX:GOLDF) announced today that its shares have commenced trading in the United States on the OTC market’s prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com. Pele’s U.S. trading symbol is “GOLDF”. Pele’s shares are also listed on Canada’s TSX Venture Exchange under the symbol “GEM”.
Pele President and CEO Al Shefsky stated, “With rapidly increasing interest in our Eco Ridge Mine Rare Earths and Uranium Project and our portfolio of Northern Ontario gold properties, we are pleased to begin trading on OTCQX International. The OTCQX will provide Pele with a cost-effective means of enhancing its visibility and liquidity, benefiting all of our investors, especially those residing in the United States.”
Pele anticipates delivery of an updated Preliminary Assessment for Eco Ridge, including economic modeling and a timeline for advancing the project through the feasibility and licensing stages, during the current calendar quarter. Pele recently received an updated NI 43-101 Resource Estimate for Eco Ridge which, for the first time, included both rare earth oxides and uranium oxide. The Eco Ridge Resource Estimate can be viewed at: http://www.pelemountain.com/mineral-resources.php.
The OTCQX is the premium tier of the OTC marketplace, providing Pele with exposure to American institutional and retail investors. OTCQX International is reserved for companies that are listed on a qualified stock exchange in their home country, providing a visible presence in the U.S., without the duplicative regulatory burdens of a traditional U.S. exchange listing.
Merriman Capital, Inc. of San Francisco will serve as Pele’s Principal American Liaison (“PAL”) on OTCQX International, and will be responsible for providing guidance on OTCQX requirements and compliance with U.S. securities laws. Merriman Capital, Inc. is a wholly-owned subsidiary of Merriman Holdings, Inc. (NASDAQ:MERR) and is a member of FINRA and SIPC.