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Alturas Receives Notice of Transfer from Tier 1 to Tier 2 Classification on the TSX Venture Exchange
(TheNewswire) TORONTO - TheNewswire - October 6, 2020 - Alturas Minerals Corp...
About this update from Alturas Minerals Corp.
[{"type":"text","content":"Alturas Receives Notice of Transfer from Tier 1 to Tier 2 Classification on the TSX Venture Exchange\n \n \n (TheNewswire)\n \n \n \n TORONTO -\n \n \n TheNewswire -\n \n \n October 6, 2020 - Alturas Minerals Corp.\n(TSXV:\n \n \n ALT\n \n \n ) (\"\n \n \n Alturas\n \n \n \" or the \"\n \n \n Company\n \n \n \") today\nannounces that further to its press release on September 3, 2020\ndisclosing the disposition of its remaining interest in the Sombrero\nconcession to Auryn Resources Inc., the TSX Venture Exchange (the\n\"\n \n \n Exchange\n \n \n \") has advised the Company that it does not meet the\nExchange's Tier 1 Continued Listing Requirements (\"\n \n \n CLR\n \n \n \") and, as a\nresult, the Company's Tier classification changed from Tier 1 to Tier\n2 as of Monday, October 7\n \n \n th\n \n \n ., 2029. Further, the Exchange has provided\nthe Company 90 days to submit documentation evidencing that it meets\nTier 2 CLR which includes the acquisition of an operating asset. If\nthe Company is unable to file satisfactory documentation before such\ndate, the Company will be transferred to the NEX Board of the\nExchange.\n \n \n \n \n The Company intends to pursue opportunities to acquire\nan operating asset and make submissions to the Exchange regarding the\nCompany's Tier 1 CLR deficiencies, however there can be no assurance\nthe Company will be successful in this regard.\n \n \n \n \n The reclassification of the Company as a Tier 2 issuer\nwill not result in any change to Alturas's trading symbol, which will\nremain \"ALT\".\n \n \n \n \n Alturas also confirms that all four directors on its\nboard remain in place and that Miguel Cardozo and Mario Miranda, its\ncurrent Chief Executive Officer and Chief Financial Officer,\nrespectively, remain in their existing roles.\n \n \n \n \n About Alturas Minerals\n \n \n \n \n \n \n Alturas is a Canadian corporation, and is the indirect\nparent of the Peruvian company, Alturas Minerals S.A. (\"Alturas\nPeru\") and of the Chilean company, Alturas Chile Limitada\n(\"Alturas Chile\"). Alturas Peru has been exploring various\nmineral projects in Peru since January 2004. Alturas interrupted its\nexploration activities in Chile and is focused in new business\nopportunities.\n \n \n \n \n Forward Looking Information and\nAdditional Cautionary Language\n \n \n \n \n This release includes certain...