Altaley Mining Corporation said its common shares are now trading on the OTCQX Best Market under the symbol ATLYF. Its shares will also continue to trade on the TSX Ventures Exchange and the Frankfurt Stock Exchange.
The OTCQX Best Market is the highest market tier of OTC markets on which 10,000 US and global securities trade. Altaley said trading on the exchange will enhance its visibility and accessibility to US investors.
"We are pleased to reach the milestone of trading on OTCQX, as this will provide our valued US investors with greater liquidity and execution services through OTCQX,” CEO Ralph Shearing said in a statement.
“This is an important step in the evolution of the company. With greater visibility afforded to investors through the mandated disclosure requirements of the OTCQX market, we anticipate that this upgrade will strengthen confidence in Altaley by retail and institutional investors alike."
READ: Altaley Mining delivers C$7.6M in income during 2Q thanks to strong output from its Campo Morado mine
To be eligible for the OTCQX Best Market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with US securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
Altaley said it has also completed the process of securing Depository Trust Company eligibility for its common shares. DTC manages electronic clearing and settlement of publicly-traded companies across the United States and in 131 other countries. Trading through DTC allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process of daily trades.
Altaley holds two wholly-owned Mexican gold, silver, and base metal mining projects.
Campo Morado is an operating polymetallic base metal mine in Mexico with mining and milling equipment currently producing at an average rate of approximately 2,000 tonnes per day.
Altaley’s other asset is the Tahuehueto project is in northwestern Durango State, Mexico where construction has been advanced to nearly 70% of completion.
Contact the author at stephen.gunnion@proactiveinvestors.com