TSX-V: SMP
Frankfurt: 5RE
OTC: SMPEF
VANCOUVER, BC, Nov. 24, 2020 /CNW/ - Southern Empire Resources
Corp. (Southern Empire) (TSXV: SMP) (Frankfurt: 5RE) (OTC: SMPEF) announces that
electronic trading of its common shares is now facilitated in the
U.S.A. through the SEC-registered
Alternative Trading System quotation facilities (known as OTC Link®
ATS) of OTC Markets Group, Inc.
Southern Empire's common shares now trade on the OTC
Markets system with the trading symbol "SMPEF". This
will allow Southern Empire access to an expanding, broader range of
non-Canadian investors and is expected to increase the convenience
of trading and liquidity of its common shares within the
U.S.A.
Southern Empire shares continue to trade on the TSX Venture
Exchange (TSX-V), trading symbol "SMP", and on the Frankfurt Börse
with the trading symbol "5RE".
Broker-dealers that trade equity securities, corporate bonds,
government securities, American depository receipts (ADRs) and
derivative products in the over-the-counter market (OTC) are
regulated by the Financial Industry Regulatory Authority (FINRA).
OTC Markets Group, Inc. is a registered broker-dealer and member of
FINRA.
OTC Link® ATS, owned by OTC Markets Group, Inc., is an
electronic inter-dealer quotation system that displays quotes,
last-sale prices, and volume information for about 11,000 OTC
equity securities that are not listed on a U.S. national securities
exchange. Eighty-nine broker-dealers, also qualified with FINRA as
market makers, subscribe to OTC Link® ATS and generated an annual
dollar volume of trades totalling $375
billion in 2019. For more information, please visit OTC
Markets Group, Inc. website at https://www.otcmarkets.com.
Market Maker Engaged
Southern Empire has engaged Venture Liquidity Providers Inc.
(VLP) to provide market making services through a registered
broker, W.D. Latimer Co. Limited, in accordance with TSX-V
policies. VLP may trade shares of Southern Empire on the TSX-V for
the purposes of maintaining an orderly market and improving trading
liquidity. VLP and Southern Empire act at arm's length. In
consideration of the services provided by VLP, Southern Empire will
pay a monthly fee of $5,000 and VLP
will not receive any shares or options as compensation. The term of
the VLP market making agreement is one year but it may be
terminated by either party immediately upon written notice.
Andrew Davidson Appointed as Director
Southern Empire is pleased to welcome Mr. Andrew Davidson to the board of directors.
Mr. Davidson is well-versed in all aspects of TSX-V company
operations and will be a valuable addition to the board for his
longstanding experience in guiding exploration companies at their
earliest stages. Working closely with our technical operations
group, Mr. Davidson will continue to play a leading role in
ensuring that Southern Empire has sufficient capital to allow for
the prompt and uninterrupted exploration of its gold projects.
About Southern Empire Resources Corp.
Southern Empire is focused on the acquisition, exploration and
development of gold deposits in North
America.
In the Cargo Muchacho mountains of Imperial County, California, Southern Empire
owns 100% of the historical gold producing American Girl Mine
property and also holds options to acquire a 100% interest in the
adjacent 2,160 hectare (5,338 acre) Oro Cruz Property located
approximately 22.5 kilometres (km; 14 miles) southeast of the
operating Mesquite gold mine of Equinox Gold Corp.
With a history that includes extensive drilling and large-scale
open pit and underground mining by the American Girl Mining Joint
Venture (53 per cent owned by MK Gold Company, then a subsidiary of
Morrison-Knudsen Corporation, and 47 per cent owned by Hecla Mining
Company), which was suspended during the gold market downturn in
1996, the Oro Cruz Gold Project hosts many exploration targets in
addition to a high-grade oxide gold zone that, based on the
historical mine operation records, is amenable to conventional heap
leach extractive methods.
Southern Empire is well-financed, having completed two
oversubscribed, non-brokered private placement financings during
2020; see Southern Empire's news releases dated March 18 and June 12,
2020 for details. With its strong working capital position,
which also includes a significant equity holding in Bullfrog Gold
Corp., Southern Empire has the financial resources to continue
exploration and development programs at Oro Cruz and also consider
new opportunities.
On behalf of the Board of Directors of Southern Empire
Resources Corp.,
Dale Wallster, CEO and
Director
Cautionary Notice on Forward-Looking
Information
Information provided in this news release may
contain forward-looking statements that are based on assumptions as
of the date of this news release. These statements reflect
management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance.
Southern Empire cautions that all forward-looking statements are
inherently uncertain and that actual performance may be affected by
a number of material factors, many of which are beyond its
respective control. Such factors include, among other things: risks
and uncertainties relating to Southern Empire limited operating
history, the need to comply with environmental and governmental
regulations, results of exploration programs on its projects and
those risks and uncertainties identified in its annual and interim
financial statements and management discussion and analysis.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward-looking
information. Except as required under applicable securities
legislation, Southern Empire undertakes no obligation to publicly
update or revise forward-looking information.
Work Programs During the COVID-19 Pandemic
Timing of
Southern Empire's exploration programs will be contingent on
governmental regulations regarding the COVID-19 pandemic and also
the availability of exploration-related personnel, drill
contractors, equipment, lodging, et cetera. Southern Empire will
adhere to COVID-19 directives regarding safe working practices
putting worker, community and national safety first and will
proceed with exploration and development work programs only if
potential COVID-19 risks can be effectively managed.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Southern Empire Resources Corp.
