Business
Formation Metals Begins Trading on the OTCQB Venture Market
VANCOUVER, BC / ACCESS Newswire / May 15, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO), a North American mineral acquisition and explo
About this update from Formation Metals Inc.
[{"type":"text","content":" VANCOUVER, BC / ACCESS Newswire / May 15, 2025 / Formation Metals Inc. (\"Formation\" or the \"Company\") (CSE:FOMO), a North American mineral acquisition and exploration company, is pleased to announce that the Company's common shares have begun trading on the OTCQB Venture Market (\"OTCQB\") effective today under the ticker symbol FOMTF. The successful uplisting is effective May 15, 2025 and the company's common shares will continue to trade under the ticker symbol \"FOMO\" in Canada and \"A3D492\" in Germany. Formation believes the uplisting will boost visibility to a broader universe of investors and provide improved liquidity for its stock as the company advances its flagship N2 Gold Project (\"N2\") in Quebec, an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4. Deepak Varshney, Formation's Chief Executive Officer and Director commented, \"Uplisting to the OTCQB Venture Market is an important milestone for our company and reflects our commitment to improving corporate transparency, increasing share trading liquidity, and expanding the universe of potential investors.\" The OTCQB is a trading platform operated by the OTC Markets Group Inc. that is designed for developing and entrepreneurial-stage companies, and is considered by the SEC to be an \"established public market\". Companies listed on the OTCQB are current in their SEC financial reporting and complete an annual verification and management certification process. Additional information about the OTC Markets Group Inc. and the OTCQB can be found at www.otcmarkets.com. Project Summary Comprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, Formation's flagship N2 Gold Project (\"N2\") is an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4. There are six primary auriferous mineralized zones in total, each open for expansion along strike and at depth. Compilation and geophysical work by Balmoral Resources Ltd. (now Wallbridge Mining) from 2010 to 2018 gen...