Golden Tag Initiates Actions for Uplifting to OTCQB Market
October 09 2020 - 9:13AM
Golden Tag Resources Ltd. (“
Golden Tag” or the
"
Company") (TSX.V: GOG) is pleased to announce
that the Company has initiated the process to have the Company’s
common shares quoted on the OTCQB Venture Market (the
“
OTCQB”). The listing of the Company’s common
shares on the OTCQB would be an uplift from the current OTC Pink
Market and remains subject to the approval of the OTCQB and the
satisfaction of applicable listing requirements.
Greg McKenzie, President and CEO commented,
"Application and admission to the OTCQB is part of our long-term
strategy to grow our shareholder base in the United States, a
market that traditionally has a strong demand for investment in
silver. We have also taken recent steps to attract investors from
Markets in Asia through disseminating translated materials and
participating in the GCFF Virtual Conference".
The Company anticipates that the move to the
OTCQB will provide enhanced investor benefits including access to
the most current information while reducing the trading limits and
restrictions, greater access to analyst coverage and news services,
and more comprehensive compliance requirements. The OTCQB is
considered by the Securities and Exchange Commission (SEC) as an
"established public market" for the purpose of determining the
public market price when registering securities for resale with the
SEC. The OTCQB increases transparency, management certification and
compliance requirements, and the majority of broker dealers trade
stocks on the OTCQB. Historically this has resulted in greater
liquidity and awareness for companies that reach the OTCQB
tier.
The OTCQB is a venture market designed for
early-stage and developing US and international companies. To be
eligible, companies must be current in their reporting and undergo
an annual verification and management certification process.
Repricing of Stock
Options
The pricing of 9,900,000 incentive stock
options, as announced on September 3, 2020, has been repriced from
$0.325 to $0.33.
About Golden Tag Resources
Golden Tag Resources Ltd. is a junior
exploration company exploring for high-grade silver deposits. The
Company holds a 100% interest in the San Diego property in Durango
State, Mexico. The San Diego property is located within the
Velardeña Mining District, the site of several mines having
produced silver, zinc, lead and gold over the past century. For
more information regarding the San Diego property please visit our
website at www.goldentag.ca. Golden Tag has no debt and is well
funded with cash balances of approximately $9.0 million.
For additional information, please
contact:
Greg McKenzie, President & CEOEmail:
info@goldentag.cawww.goldentag.ca Cautionary
Statement:
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
Certain statements in this news release are
forward-looking and involve a number of risks and uncertainties.
Such forward-looking statements are within the meaning of the
phrase ‘forward-looking information’ in the Canadian Securities
Administrators’ National Instrument 51-102 – Continuous Disclosure
Obligations. Forward-looking statements are not comprised of
historical facts. Forward-looking statements include estimates and
statements that describe the Company’s future plans, objectives or
goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company’s
intentions regarding its objectives, goals or future plans and
statements. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to: the ability to predict and counteract the effects
of COVID-19 on the business of the Company, including but not
limited to the effects of COVID-19 on the price of commodities,
capital market conditions, restriction on labour and international
travel and supply chains; failure to identify mineral resources;
failure to convert estimated mineral resources to reserves; the
inability to complete a feasibility study which recommends a
production decision; the preliminary nature of metallurgical test
results; delays in obtaining or failures to obtain required
governmental, environmental or other project approvals; political
risks; changes in equity markets; uncertainties relating to the
availability and costs of financing needed in the future; the
inability of the Company to budget and manage its liquidity in
light of the failure to obtain additional financing; inflation;
changes in exchange rates; fluctuations in commodity prices; delays
in the development of projects; capital, operating and reclamation
costs varying significantly from estimates and the other risks
involved in the mineral exploration and development industry; and
those risks set out in the Company’s public documents filed on
SEDAR. Although the Company believes that the assumptions and
factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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