Geomega Upgraded to OTCQB for its US Listing
October 04 2021 - 8:00AM
Geomega Resources Inc. (“
Geomega” or the
“
Corporation”) (TSX.V: GMA) (OTC: GOMRF), a
developer of clean technologies for the mining, refining and
recycling of rare earths, is pleased to announce that its common
shares have been upgraded to trade on the OTCQB Venture Market (the
“OTCQB”), operated by the OTC Market Group, New York. The
Corporation’s U.S. shares will continue trading under its current
U.S. symbol “GOMRF”.
The Corporation’s Canadian trading symbol
remains unchanged and will continue to trade on the TSX Venture
Exchange under the symbol “GMA”.
The OTCQB is the premier venture marketplace for
early-stage and developing U.S. and international companies that
are committed to providing a high-quality trading and information
experience for their U.S. investors. Participating companies must
meet high financial standards, including be current in their
financing reporting, follow best practice corporate governance,
have a professional third-party sponsor introduction and undergo an
annual verification and management certification process. The OTCQB
is recognized by the Securities and Exchange Commission as an
established public market and provides a strong baseline of
transparency and current public information to investors that need
to analyze, value, and trade securities. Investors can find current
financial disclosure and Real-Time Level 2 quotes for the Company
on www.otcmarkets.com.
“We are very pleased to commence trading on the
OTCQB. This listing will broaden our shareholder base in the U.S.
and aligns with our corporate objective to offer a rare earths
recycling solution to the U.S. which due to its dependence on
imports of neodymium magnets, has significant national security
implications.” commented Kiril Mugerman, President and CEO of
Geomega.
About Geomega
(www.geomega.ca)Geomega
develops innovative technologies for extraction and separation of
rare earth elements and other critical metals essential for a
sustainable future. With a focus on renewable energies, vehicle
electrification, automation and reduction in energy usage, rare
earth magnets or neo-magnets (NdFeB) are at the center of all these
technologies. Geomega’s strategy revolves around gradually
de-risking its innovative technology and delivering cashflow and
return value to shareholders while working directly with the main
players in these industries to recycle the magnets that power all
those technologies.
As its technologies are demonstrated on larger
scales, Geomega is committed to work with major partners to help
extract value from mining feeds, tailings and other industrial
residues which contain rare earths and other critical metals.
Irrespective of the metal or the source, Geomega adopts a
consistent approach to reduce the environmental impact and to
contribute to lowering greenhouse gases emissions through recycling
the major reagents in the process.
Geomega’s core project is based around the ISR
Technology (Innord’s Separation of Rare Earths), a proprietary,
low-cost, environmentally friendly way to tap into a C$1.5 billion
global market to recycle magnet production waste and end of life
magnets profitably and safely.
Geomega also owns the Montviel rare earth
carbonatite deposit, the largest 43-101 bastnaesite resource
estimate in North America and holds over 16.8M shares, representing
approximately 16% of the issued and outstanding shares, of Kintavar
Exploration Inc. (KTR.V), a mineral exploration company that is
exploring for copper projects in Quebec, Canada.
For further information, please
contact:
Kiril MugermanPresident and CEOGeomega450-641-5119
ext.5653kmugerman@geomega.ca |
|
Nancy ThompsonVorticom Public
Relations212-532-2208nancyt@vorticom.comTwitter: @Geomega_REE |
Cautions Regarding Forward-Looking
Statements Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains statements that may
constitute “forward-looking information” or “forward-looking
statements” within the meaning of applicable Canadian securities
legislation. Forward-looking information and statements may
include, among others, statements regarding future plans, costs,
objectives or performance of the Corporation, or the assumptions
underlying any of the foregoing. In this news release, words such
as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”,
“anticipate”, “intend”, “plan”, “estimate” “target” and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at
or by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including as regards the
commercialization of any of the technology referred to above, or if
any of them do so, what benefits the Corporation will derive.
Forward-looking statements and information are based on information
available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond the Corporation’s control. These risks,
uncertainties and assumptions include, but are not limited to,
those described under “Risk Factors” in the Corporation’s annual
management’s discussion and analysis for the fiscal year ended May
31, 2021, which is available on SEDAR at www.sedar.com; they could
cause actual events or results to differ materially from those
projected in any forward-looking statements. The Corporation does
not intend, nor does the Corporation undertake any obligation, to
update or revise any forward-looking information or statements
contained in this news release to reflect subsequent information,
events or circumstances or otherwise, except if required by
applicable laws.
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