NEW YORK , April 20, 2021 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Foran Mining Corporation (TSX-V: FOM) (OTCQX: FMCXF), an exploration and development company with a strategy to build the world's first copper mine designed to be carbon neutral from day one of production, has qualified to trade on the OTCQX ® Best Market. Foran Mining Corporation upgraded to OTCQX from the Pink ® market.
Foran Mining Corporation ("Foran") begins trading today on OTCQX under the symbol "FMCXF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
Dan Myerson , Executive Chair of Foran, commented: "We are delighted to commence trading on OTCQX. This means that investors in the USA can now gain exposure to our strategy to build the world's first copper mine designed to be carbon neutral from day one of production. By using renewable energy and electric fleets at our McIlvenna Bay project, which is located in Canada in one of the world's premier mining jurisdictions, we anticipate delivering superior returns for our shareholders, beyond what would be achievable from traditional forms of mining.
"We are re-imagining mining from the underground up, protecting the earth with zero-emission technologies and carbon-reducing practices, and focusing on worker safety, quality of life, and community. This will mean that the products we need for our daily lives and the world of tomorrow, like cell phones, solar and wind technologies, and electric vehicles, have a lower social, environmental and economic cost. The recent board appointment of Dr. Jean Rogers , who has almost 20 years of experience at the forefront of the development of ESG standards and principles, together with a range of top engineering and environmental consultants, demonstrates our commitment to responsible mining. Our compliance with ESG principles also removes the reputational risk and barriers that can prevent some from gaining exposure to the strong returns which are traditionally associated with investing in mining projects. With this in mind, we look forward to welcoming new investors to our register."
Securities Law USA , PLLC acted as the company's OTCQX sponsor.
About Foran Mining Corporation
Foran is an exploration and development company, and committed to supporting a greener future and creating maximum value for all stakeholders – creating safe jobs, supporting local communities as well as both preserving and enhancing the environment. Our goal is to build the first mine in Canada designed to be carbon neutral from day one of production. We are in the feasibility stage of development for our flagship McIlvenna Bay project in eastern Saskatchewan . McIlvenna Bay is a copper-zinc-gold-silver rich VMS deposit intended to be the center of a new mining camp in a prolific district that has already been producing for 100 years. McIlvenna Bay sits just 65km from Flin Flon, Manitoba and is part of the world class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba , through Flin Flon to Foran's ground in eastern Saskatchewan , a distance of over 225km.
McIlvenna Bay is the largest undeveloped VMS deposit in the region. The Company filed a NI 43-101 Technical Report for the PFS on the McIlvenna Bay Deposit on SEDAR on April 28, 2020 . Foran's copper-zinc VMS Bigstone Deposit is expected to serve as additional feed for the mill at McIlvenna Bay. The Company filed a NI 43-101 Technical Report for the Bigstone Deposit's first resource estimate on January 21, 2021 .
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX ® Best Market, the OTCQB ® Venture Market and the Pink ® Open Market for 11,000 U.S. and global securities. Through OTC Link ® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com .
OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.
Subscribe to the OTC Markets RSS Feed
Media Contact:
OTC Markets Group Inc.
+1 (212) 896-4428
media@otcmarkets.com
View original content to download multimedia: http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-foran-mining-corporation-fmcxf-to-otcqx-301272220.html
SOURCE OTC Markets Group Inc.