Inter-Citic Shares Commence Trading on the U.S. OTCQX
TORONTO, ONTARIO -- (Marketwire) -- 03/29/11 -- Inter-Citic Minerals Inc. (TSX: ICI)(OTCQX: ICMTF) ('Inter-Citic' or 'the Company') President and CEO James Moore is pleased to announce that the Company's shares commenced trading today on the OTCQX®, the U.S. Over-the-Counter (OTC) market's highest tier, under the symbol ICMTF.
The OTCQX is the most prestigious of the three tiers of the OTC, and is recognized as a quality-controlled marketplace in the United States for investor-friendly companies. In 2010, securities on the OTC platform traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange.
Companies that join the OTCQX demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards. OTCQX is fully electronic and gives investors access through all major online and full-service brokerage firms in the U.S., including Schwab, E-TRADE, Scottrade, TD Ameritrade, and Fidelity. Trades are settled and cleared in the U.S. similar to any NASDAQ or NYSE stock and trade reports are disseminated through Yahoo, Bloomberg, Reuters, and most other financial data providers. Investors can find current financial disclosure and real-time Level 2 quotes for Inter-Citic on www.OTCQX.com and www.OTCMarkets.com.
'Joining the top tier OTCQX in addition to our current TSX listing means our substantial number of U.S. investors will have easier access to our stock as well as greater transparency in their trades,' said James Moore, Inter-Citic's President and CEO. 'We have watched our retail investor following in the U.S. explode in the past few years, and we fully expect this upgrade will help liquidity and share price for our investors both in the U.S. and in Canada. We are very pleased to join the impressive list of major international companies whose shares trade on the OTCQX.'
Inter-Citic has engaged the services of Merriman Capital, Inc., a wholly-owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR) (Member FINRA/SIPC), a financial services firm based in San Francisco focused on fast-growing companies and their institutional investors, to serve as the Company's Principal American Liaison ('PAL') on OTCQX, responsible for providing guidance on OTCQX requirements.
On Behalf of the Board:
James J. Moore, President & CEO
ABOUT INTER-CITIC:
Toronto-based Inter-Citic Minerals Inc. is an exploration and development company advancing its Dachang Gold Project in the People's Republic of China. Inter-Citic is listed on the TSX under the symbol ICI. Inter-Citic's website is www.inter-citic.com.
Investors are encouraged to review 'Risk Factors' associated with the Dachang project as outlined in the Company's 2010 Financial Statements and Annual Information Form, along with updates, available on the SEDAR website at www.sedar.com. The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading 'Risk Factors' in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
Contacts:
Inter-Citic Minerals Inc.
Stephen Lautens
Vice President, Corporate Communications
(905) 479-5072 x 227
stephen@inter-citic.com