Silver Falcon Mining, Inc. (SFMI) Receives Communication From OTC Market Group, Inc. About Recent Trading Platform Change
BRADENTON, FL -- (Marketwire) -- 03/14/11 -- Silver Falcon Mining, Inc. (OTCBB: SFMI) announces that it has received a communication from OTC Market Group, Inc. about the recent trading platform change from the FINRA system to the OTCQX superior electronic interdealer quotation system. Management believes that this letter will help clarify the move and explains the inaccuracies in its displayed stock data.
The letter has been attached below in its entirety:
'Dear Silver Falcon Mining, Inc.,
'OTC Markets Group Inc. (OTCQX) operates the largest electronic marketplace for broker-dealers to trade unlisted stocks.
'Because of our investment in technology, the vast majority of regulated brokers-dealers have chosen to quote your company's securities on our superior electronic interdealer quotation system. Your shares are designated on our system as trading on the OTCQB™ tier, where investors can easily identify companies that file current information with a U.S. regulator, such as the SEC. To make sure that the marketplace is well-informed, we are currently providing FREE real-time quotes in your stock for your investors on www.otcmarkets.com.
'As many of you have inquired about the continuous migration of broker-dealer quotes moving off of FINRA's OTC Bulletin Board, we would like to provide you with an update on the reasons that have driven this move, and what impact, if any, this will have on investor trading and access. There are also some misperceptions due to the fact that some financial websites have not updated their systems and are not displaying accurate quotes (or no quotes at all) and are mistakenly showing SEC reporting companies as Pink (sometimes showing .PK on the end of their tickers).
'We want to assure you that as long as you are current with your SEC reporting obligations or (for banks) current with your bank regulator filings, we will not be labeling you as trading on the OTC Pink tier (formerly known as Pink Sheets). We want to inform you that you can direct your investors to www.otcmarkets.com to get accurate information on professional real-time quotations. Companies quoted on our platform that report to a U.S. regulator are either designated as OTCQB, or, for companies that successfully take the steps needed to qualify, OTCQX®, the highest tier of the OTC marketplace.
'I highly encourage you to view our OTCQB fact sheet here:
'http://www.otcmarkets.com/content/doc/ps/OTCQBfactsheet.pdf. This can be sent to your investors to explain what has happened and what it means for your stock to trade on OTCQB. If you have any additional questions, please do not hesitate to contact me.
'Please keep an eye out for future communications from myself and my colleagues at OTC Markets Group. Over the next year we will be introducing some exciting new services for OTCQB companies like yours, and will be looking for your feedback and input on how we can create a better and more informed marketplace for your investors.'
Pierre Quilliam, CEO, Silver Falcon Mining, Inc., states, 'We appreciate receiving this letter of clarification from OTC Markets and SFMI will continue to update its shareholders about further information on this new trading platform as is necessary.'
Further Information: contact Rich Kaiser, Investor Relations, 800-631-8127 and/or visit http://www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
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Contact:
Rich Kaiser
800-631-8127