Business
Ceylon Graphite Receives DTC Eligibility
VANCOUVER, British Columbia, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) a
About this update from Ceylon Graphite Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) announces that it has secured The Depository Trust Company (DTC) eligibility for its shares traded in the United States under the symbol CYLYF. The Company's common shares traded on the OTC Market in the United States, under the symbol \"CYLYF\" are Depository Trust Company (\"DTC\") eligible, effective November 1, 2018. The DTC will facilitate electronic settlement of transfers of its common shares in the United States. Bharat Parashar, Chairman and Chief Executive Officer of Ceylon Graphite said: \"Ceylon Graphite registering its shares with DTC is a fundamental step towards establishing the company with the American investment community. This electronic method of clearing securities expedites the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms. The DTC's electronic settlement of our shares is critical to having an effective market for our securities. We look forward to a long and mutually beneficial relationship with the American investment community.\" About Ceylon Graphite Corp. Ceylon Graphite Corp. is a public company listed on the TSX Venture Exchange (CYL:TSX-V), that is in the business of exploring for and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world, and currently accounts for less than 1% of the world graphite production. FORWARD LOOKING STATEMENTS: This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about Ceylon Graphite’s grids, Ceylon Graphite’s plans to undertake additional drilling and to develop a mine plan, Ce...