Metallum Resources Inc. commences trading on USA based OTCQB Market
HIGHLIGHTS- Metallum is now trading on USA based OTCQB under the ticker code of MTLLF
- The OTC listing aims to provides greater visibility and liquidity of Metallum shares
Metallum Resources Inc., July 27, 2022 - (TSXV:MZN); (OTC:MTLLF) ("Metallum" or the "Company") is pleased to announce a secondary listing on the OTCQB marketplace under the symbol "MTLLF". The Company's common shares will continue to trade on the TSX Venture Exchange under the symbol "MZN". https://www.otcmarkets.com/stock/MTLLF/overview
Trading of Metallum shares on the OTC is aimed at enhancing the visibility and accessibility of the Company to US based investors, with the listing allowing potential US investors to both trade and settle in US dollars.
The OTC is an established trading platform, operated by OTC Markets Group in New York, providing livemarket trading in companies which hold primary listings in other markets. Trading of Metallum shares on the OTC imposes no additional compliance or regulatory standards over and above the Company's existing compliance requirements as a Canadian incorporated entity listed on the TSX Venture Exchange.
OTC trading is non-dilutive to existing Metallum shareholders, as no new shares are being issued to enable trading on the OTC.
President and CEO, Kerem Usenmez commented, "The listing on OTCQB expands Metallum to a larger audience with the key objective to improve liquidity in the stock. We have had a lot of interest from US based investors seeking to participate in our story - an OTC listing makes this a much simpler process for them to buy shares in the Company."
ON BEHALF OF THE BOARD
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 604-688-5288; Fax: 604-682-1514
Email: info@metallumzinc.com
Website: metallumzinc.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the OTCQB listing, the Feasibility Study, the updated economics for the Project, and the Company's development plans for the Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the merits of the OTCQB listing; the uncertainties inherent in the Feasibility Study and the updated economics of the Project; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration and development efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the OTCQB listing will provide greater liquidity; the accuracy of the Feasibility Study and the updated economics of the Project; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Qualified Person
The technical information in this news release has been reviewed and approved by Andrew Tims, P.Geo., Exploration Manager of the Company, and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
ABOUT METALLUM RESOURCES
Metallum Resources (MZN.TSXV; OTCQB:MTLLF) owns 100% of the Superior Lake Zinc and Copper Project in Ontario, Canada. The Project ranks as the highest grade zinc project in North America with a resource of 2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.
The Company completed a positive Feasibility Study that highlights the Project will rank in the lowest quartile of operating costs (C1 costs - C$0.44 / lb; AISC C$0.51 / lb). These low costs driven by the high grade of the Project drive robust economic returns. The majority of permits and licenses are in place allowing for a quick re-development following a Final investment Decision.
For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com.