TORONTO, March 08, 2021 (GLOBE NEWSWIRE) -- 79North Inc. (CSE: JQ; OTCQB: SVNTF; FRA: 6120) (“79North” or the “Company”) announces that it has received approval from the OTC Market Group Inc. and commenced trading on the OTCQB® Venture Market (“OTCQB”) under the ticker symbol “SVNTF” on March 5, 2021. 79North’s common shares will continue to trade on the Canadian Securities Exchange and the Frankfurt Stock Exchange. In addition, 79North’s common shares are eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”).
Jon North, President and Chief Executive Officer of 79North commented, “We are proud to now join the OTCQB Venture Market. The OTCQB listing and DTC eligibility will provide 79North increased visibility with U.S. institutional and retail investors and more efficient access to our company’s information for their investment decisions. These steps demonstrate our commitment to increasing our investor base while providing our current and future U.S. investors convenient access to the same ease of trading, timely news and information enjoyed by investors in Canada. It is anticipated that, in time, all of our shareholders stand to benefit from the increased exposure, broadening of our shareholder base and improved liquidity.”
The OTCQB offers developing Canadian companies the benefits of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Streamlined market standards enable Canadian companies to provide a strong baseline of transparency to inform and engage U.S. investors. As a verified market with efficient access to U.S. investors, the OTCQB helps Canadian companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation. OTCQB companies provide current company information and meet financial standards that enable brokers to more easily quote and trade a security. Companies engage a far greater network of U.S. investors, data distributors and media partners, ensuring U.S. investors have access to the same high-quality information that is available to investors in Canada, but through U.S. platforms and portals to conduct research. To learn more about the OTCQB, please visit www.otcmarkets.com.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible”. DTC eligibility is expected to create a seamless process of trading and enhance liquidity of 79North’s common shares in the United States over time.
About 79North Inc.
79North, is led by a team with extensive mineral exploration expertise and a track record of discoveries and exits in South America and globally. 79North currently holds an indirect interest in mineral concessions in northern Suriname and aims to become the premier junior exploration company in this under explored district of the prolific Guiana Shield. 79North’s growing portfolio of high-quality targets which have not undergone modern exploration or drilling have a long history of artisanal mining and are strategically located in close proximity to modern gold mines operated by major mining companies. 79North is a mineral exploration company focused on the acquisition, exploration, and development of properties for the mining of gold and other minerals.
For further information please visit www.79North.ca or contact:
Jon North, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation, including information with respect to the Company’s future plans. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political, and social uncertainties, including related to Covid-19; and the delay or failure to receive board, shareholder, or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 79North assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.