Fireweed Zinc Announces Application for Trading on the OTCQB Market and DTC Eligibility in the USA
August 19 2021 - 7:30AM
FIREWEED ZINC LTD. (“
Fireweed” or the
“
Company”) (TSXV: FWZ) is pleased to announce that
it has applied to have its shares listed for trading on the
OTCQB® Market (the "
OTCQB") and full
eligibility through the Depository Trust Company
(“
DTC”) for electronic settlement and clearing of
its common shares in the United States of America. Fireweed
currently trades on the TSX Venture Exchange
(“
TSXV”) in Canada under the symbol “FWZ” and will
continue to trade on the TSXV after the OTCQB listing.
Brandon Macdonald, CEO, stated, "We have had
significant interest expressed from US-based investors and listing
on the OTCQB will provide institutional and retail investors with
easier access to trade in our shares. This new listing will also
assist existing US shareholders who have purchased our shares
through the OTC Grey Market as it will address new requirements of
pending SEC rules for trading in the USA while also enhancing our
liquidity."
The listing of the Company’s common shares on
the OTCQB remains subject to the approval of the OTCQB and the
satisfaction of applicable listing requirements. Similarly, the
clearance of settlement through DTC remains subject to DTC
approval.
The OTCQB, operated by the OTC Markets Group in
New York, is the premiere marketplace for early stage and
developing U.S. and international companies. Participating
companies must be current in their financial reporting and undergo
an annual verification and management certification process,
including meeting a minimum bid price and other financial
conditions. With more compliance and quality standards, the OTCQB
provides investors improved visibility to enhance trading
decisions. The OTCQB is recognized by the United States Securities
and Exchange Commission (“SEC”) as an established
public market providing public information for analysis and value
of securities. DTC eligibility will enable an accelerated
settlement process and allow Fireweed’s shares to be efficiently
transferred between brokerage accounts electronically within the
United States.
About Fireweed Zinc Ltd. (TSXV:
FWZ): Fireweed Zinc is a public mineral exploration
company focused on zinc-lead-silver and managed by a veteran team
of mining industry professionals. The Company is advancing its
district-scale 940 km2 Macmillan Pass Project in Yukon, Canada,
which is host to the 100% owned Tom and Jason zinc-lead-silver
deposits with current Mineral Resources and a PEA economic study
(see Fireweed news releases dated January 10, 2018, and May 23,
2018, respectively, and reports filed on www.sedar.com for
details) as well as the Boundary Zone, Tom North Zone and End Zone
which have significant zinc-lead-silver mineralization drilled but
not yet classified as mineral resources. The project also includes
large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro,
Sol, Ben, and Stump) which cover exploration targets in the
district where previous and recent work identified zinc, lead and
silver prospects, and geophysical and geochemical anomalies in
prospective host geology.
Additional information about Fireweed Zinc and
its Macmillan Pass Zinc Project including maps and drill sections
can be found on the Company’s website at
www.FireweedZinc.com and at www.sedar.com.
ON BEHALF OF FIREWEED ZINC
LTD.
“Brandon Macdonald”
CEO & Director
Neither the 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.
Cautionary Statements
US Disclosure StatementsThis news release does
not constitute an offer to sell or a solicitation of an offer to
buy any securities in the United States. Fireweed securities are
not currently registered under the United States Securities Act of
1933 , as amended (the "U.S. Securities Act"), or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless and until registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
Forward Looking StatementsThis news release may
contain “forward-looking” statements and information relating to
the Company, the OTC listing application, and the Macmillan Pass
Project that are based on the beliefs of Company management, as
well as assumptions made by and information currently available to
Company management. Such statements reflect the current risks,
uncertainties and assumptions related to certain factors including
but not limited to, without limitations, exploration and
development risks, expenditure and financing requirements, general
economic conditions, changes in financial markets, pandemics, the
ability to properly and efficiently staff the Company’s operations,
the sufficiency of working capital and funding for continued
operations, title matters, First Nations relations, operating
hazards, political and economic factors, competitive factors, metal
prices, relationships with vendors and strategic partners,
governmental regulations and oversight, permitting, seasonality and
weather, technological change, industry practices, and one-time
events. Additional risks are set out in the Company’s prospectus
dated May 9, 2017, and filed under the Company’s profile on SEDAR
at www.sedar.com. Should any one or more risks or uncertainties
materialize or change, or should any underlying assumptions prove
incorrect, actual results and forward-looking statements may vary
materially from those described herein. The Company does not
undertake to update forward‐looking statements or forward‐looking
information, except as required by law.
Contact:Brandon MacDonald Phone: (604)
646-8361
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