Alderon Commences Trading on OTCQX
July 09 2010 - 6:00PM
Marketwired
Alderon Resource Corp. (TSX VENTURE: ADV)(OTCQX: ALDFF)(PINK
SHEETS: ALDFF) ("Alderon") is pleased to announce that it has
commenced trading on the OTC market's prestigious tier, OTCQX
International as of July 8, 2010 under the symbol of ALDFF.
Investors can find current financial disclosure and Real-Time Level
2 quotes for Alderon on www.otcqx.com and www.otcmarkets.com.
About OTCQX
The OTCQX Marketplace is the premier tier of the U.S. OTC
market. Investor-focused companies use the quality controlled OTCQX
listing platform to offer investors transparent trading, superior
information, and easy access through their regulated U.S.
broker-dealers. The innovative OTCQX platform offers companies and
their shareholders a level of marketplace services formerly
available only on a U.S. stock exchange. For more information and
to view a full list of OTCQX-listed companies, visit
www.otcqx.com.
About Pink OTC Markets Inc.
Pink OTC Markets Inc. (OTCQX: PINK) operates the leading
electronic interdealer quotation and trading system for over 9,000
securities not listed on a U.S. stock exchange. Pink OTC Markets
segments these securities into three tiers: the quality-controlled
OTCQX marketplace, the U.S. registered and reporting OTCQB
marketplace, and the speculative trading Pink Sheets marketplace.
These 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. Our products and services
promote market transparency, improve price discovery, facilitate
regulatory compliance, and increase the quality of issuer
disclosure, to the benefit of all OTC market participants. To learn
more about how Pink OTC Markets' products and services make OTC
markets more transparent, informed, and efficient, please visit our
websites at www.otcmarkets.com, www.pinkotc.com and www.otcqx.com
or contact us at info@pinkotc.com.
Alderon would also like to announce that it has entered into an
independent contractor agreement dated as of May 15, 2010 (the
"F&M Agreement") with Forbes & Manhattan, Inc. ("Forbes")
under which Alderon engages Forbes to provide financial, legal,
administrative, management and geological consulting services to
Alderon as required from time to time. The term of the F&M
Agreement is from July 2, 2010 to December 31, 2012. Under the
terms of the F&M Agreement, Alderon will pay Forbes a monthly
base fee of $10,000 plus applicable taxes. In addition, on July 2,
2010, Alderon paid to Forbes a signing bonus of $30,000, plus
applicable taxes.
Alderon has also entered into an independent contractor
agreement dated as of May 15, 2010 (the "2051580 Agreement") with
2051580 Ontario, Inc. ("2051580") under which Alderon engages
2051580 to provide the services of Stan Bharti to act as Executive
Chairman of Alderon and to provide financial, management and
business consulting services to Alderon as required from time to
time. The term of the 2051580 Agreement is from July 2, 2010 to
December 31, 2012. Under the terms of the 2051580 Agreement,
Alderon will pay 2051580 a monthly base fee of $10,000 plus
applicable taxes. In addition, on July 2, 2010, Alderon paid to
2051580 a signing bonus of $30,000, plus applicable taxes.
About Alderon
Alderon is a leading iron ore exploration and development
company in Canada. The Kami Project is located within an existing
iron ore district and is slated for near term production. The
Alderon team is comprised of skilled professionals with significant
iron ore expertise to advance Kami towards production.
For more information on Alderon, please visit our website at
www.alderonmining.com.
ALDERON RESOURCE CORP.
On behalf of the Board
Mark Morabito, President & CEO
This news release may contain forward-looking statements. These
statements are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ
materially because of factors discussed in the management
discussion and analysis section of our interim and most recent
annual financial statement or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities
regulations. We do not assume any obligation to update any
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Alderon Resource Corp. - Vancouver Office Mark
Morabito President & CEO 604-681-8030 604-681-8039 (FAX)
Alderon Resource Corp. - Toronto Office 416-861-5877 416-861-5887
(FAX) info@alderonmining.com www.alderonmining.com
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