Noram Ventures Inc. (TSXV:NRM) (OTCBB:NRVTF:US) is pleased to announce that it has been made eligible for book-entry delivery and depository services of the Depository Trust Company (DTC) to facilitate electronic settlement and transfer of its common shares on the U.S. stock exchange OTC.
The Depository Trust Company is one of the world’s largest securities depositories. While there is no requirement that any security be held at DTC to trade, many brokerage firms and issuers want to take advantage of the efficiencies and cost benefits that DTC offers. In contrast many stock exchanges require DTC eligibility prior to listing of a security.
The DTC accepts deposits of securities from its participants only, which are usually clearing firms. DTC helps boost efficiencies, reduce risk and lower costs for participants, issuers and investors throughout the life cycle of a security. The benefits begin with the eligibility/underwriting process, which enables the initial distribution of a security offering to be made electronically to financial institutions that are DTC participants and ultimately to investors. Once a security becomes eligible, DTC, through its nominee Cede & Co., is the registered holder of the securities, routinely processing dividend and interest payments and managing the electronic, book-entry transfers of interests in securities among participants. These participants are often holding and transferring interests in the securities at the direction of their customers, including ultimate beneficial owners.
This electronic method of clearing securities accelerates the receipt of stock and cash, and thus streamlines the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
“This approval will broaden Noram’s appeal to U.S. investors and will allow brokers and professional advisers previously unable or unwilling to follow or recommend the company’s stock, to become more familiar with our corporate story at this pivotal stage of our company,” stated Mark Ireton, President and CEO. “The DTC approval comes swiftly on the heels of a number of recent milestones for the company,” continued Mark Ireton. “With the recent completion of core drilling on NRM’s Clayton Valley, Nevada, Zues lithium clay claims, we are very pleased to be able to confirm our eligibility. Electronic trading is the standard in today’s financial marketplace, and becoming DTC eligible greatly simplifies the process of trading our common stock in the U.S., vastly widening our audience and potential shareholder base. Further, by facility and enabling trading over a broader range of firms. DTC eligibility increases the efficiency and security of the market for our shareholders, lowers the cost and transaction risk, and serves as a reflection of our ongoing efforts to support our growing investor base as the company develops.”
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite deposits and becoming a low-cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral properties. Current projects include lithium properties in the Clayton Valley of Nevada and the Hector Lode in San Bernardino County, California; and the Jumbo graphite property in southeastern British Columbia. Noram’s long term strategy is to build a multi-national lithium-graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia.
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.
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.