Moneta Porcupine Mines Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta") is pleased to announce that its common shares will commence trading today in the United States of America ("U.S.A.") on the OTCQX® Best Market under the symbol "MEAUF". Moneta has been upgraded to OTCQX from the Pink® market.
Mr. Gary O'Connor, CEO, commented, "We are very pleased to have met the stringent requirements for the graduation to the OTCQX best market. We look forward to the additional exposure that the listing will provide Moneta in reaching new institutional and retail investors and which will contribute to increased liquidity for the Company. Moneta has one of the largest undeveloped gold projects in North America located in Timmins, Ontario, Canada which has been Canada's most prolific gold camp for the past 100 years, producing over 85 million ounces of gold."
Investors can find Real-Time Level 2 quotes as well as current financial disclosures and general information for the Company at https://www.otcmarkets.com/stock/MEAUF/overview. The OTC Markets Group Inc. is an operator of financial markets for 11,000 U.S.A. and global securities. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S.A. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Moneta was sponsored for the listing by Stifel Nicolaus & Company Inc.
Moneta is a Canadian based gold exploration company focussed on the Timmins Gold Camp in Ontario. The Company's flagship project, covering the Golden Highway and Garrison Gold deposits, is located 100 km east of Timmins and hosts a total indicated resource of 3,967,000 ounces contained gold and a total inferred resource of 4,399,000 ounces contained gold. The project includes a total of 3,335,000 ounces of open pit indicated resources contained within 116.7 Mt @ 0.89 g/t Au and 2,270,000 ounces of open pit inferred resources contained within 79.4 Mt @ 0.89 g/t Au, at a cut-off grade of 0.30 g/t Au. The project also includes 632,000 ounces of indicated underground resources contained within 4.9 Mt @ 4.05 g/t Au and 2,129,000 ounces of inferred underground resources within 15.7 Mt @ 4.21 g/t Au, at a 2.60 g/t Au cut-off grade at South West and 3.00 g/t Au cut-off grade at the other underground deposits.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
Linda Armstrong, Investor Relations
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof;further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
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