NEW$ !Focus Metals Inc (C-FMS) - News Release
Focus Metals to trade on OTCQX July 14
2011-07-13 10:34 ET - News Release
Shares issued 82,156,175
FMS Close 2011-07-12 C$ 1.00
Mr. Gary Economo reports
FINRA APPROVES FOCUS METALS' APPLICATION FOR U.S. TRADING ON OTCQX INTERNATIONAL AND STANDARD AND POOR'S COVERAGE BEGINS
Trading of Focus Metals Inc. stock on the OTCQX is set to begin Thursday, July 14, 2011, after the Financial Industry Regulatory Authority (FINRA) approves the company's application to trade on the premium exchange.
Focus Metals president and chief executive officer Gary Economo said the company will trade under the symbol FCSMF.
OTC Markets Inc. operates the leading electronic quotation and trading system and facilitates trading in securities not listed on a U.S. stock exchange. OTC Markets assigns securities to a three tiered system: the quality-controlled OTCQX marketplace, the U.S. registered and reporting OTCQB marketplace, and the speculative trading Pink Sheets marketplace.
The three tiers constitute the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange.
Focus Metals is a graphite mine developer with its flagship asset, the Lac Knife project, located in northern Quebec, near the cities of Wabush and Labrador City.
Lac Knife is a uniquely high-grade flake graphite project with extensive historical work completed. The company is also earning a 50% stake in its Kwyjibo, Quebec, rare earths and copper project in partnership with SOQUEM, the commercial mining and investment company owned by the Quebec government.
Focus Metals also owns unexplored platinum, gold and copper properties in the Labrador Trough region of Northern Quebec.
In February this year, the company announced its intention to form a U.S.-Canada-Asia joint venture to develop, patent and secure global rights for applications of graphene technologies. The joint venture is based in New York City and is headed by the eminent scientist Dr. Gordon Chiu.
S & P Coverage
Mr. Economo also announced today that Standard and Poor's has begun covering Focus Metals through its Market Access Program, an information distribution service that makes material company information available to over 100,000 investment professionals and brokers.
"After a remarkable first year of operations, Focus Metals is setting the stage to expand our graphite brand through one of the world's premier trading platforms," Mr. Economo said.
"As a company with a purpose of building shareholder value, the trading of Focus Metals shares in the U.S. as "FCSMF" and coverage by Standard and Poor's provides us with access to the world's largest and safest market.
"In return," he said, "it offers liquidity to U.S. investors looking for a technology-driven stock from a safe and reliable trading partner. "
Mr. Economo added that trading on both OTCQX and the TSX-Venture exchanges should diversify the company's shareholder base and provide the impetus to further expand market capitalization.
The Company also announces the grant of options to purchase 685,000 common shares of the Company to certain employees and consultants. Each option entitles the holder to purchase one common share of the Company at the price of $1.00 per share. The options are granted pursuant to the Company's incentive stock option plan and under the plan, the options are available for exercise for a period of five years.
We seek Safe Harbor.