Business
Generation Mining Begins Trading on OTCQB Market Under Ticker GENMF
TORONTO, June 08, 2020 (GLOBE NEWSWIRE) -- Generation Mining Limited (CSE:GENM) (“Gen Mining”, “Generation”, or the “Company”) is pleased to announce that its c
About this update from Generation Mining Ltd.
[{"type":"text","content":" TORONTO, June 08, 2020 (GLOBE NEWSWIRE) -- Generation Mining Limited (CSE:GENM) (“Gen Mining”, “Generation”, or the “Company”) is pleased to announce that its common shares are now trading on the OTCQB Venture Marketplace (the \"OTCQB Venture\"), a US trading platform that is operated by the OTC Markets Group in New York. The Company will trade on the OTCQB Venture under symbol \"GENMF\"; the Company's common shares will continue to trade on the CSE under the symbol \"GENM\". Nauth LPC acted as the Company’s OTC Markets Sponsor. \"Listing on the OTCQB Venture is part of our strategy to introduce the Company to a broader audience,\" said Jamie Levy, President of Gen Mining. \"We believe trading on the OTCQB will help us to introduce the company and enhance liquidity by providing our current and future American investors with a trading platform.\" Currently, there are 130,505,937 common shares of the Company outstanding. Generation is well financed for the next phases of work, including the upcoming feasibility study and the restart of the permitting process at the Marathon Palladium Project, with approximately $14.3-million in cash. About the Marathon Palladium Project The Marathon Deposit is the largest undeveloped platinum group metal Mineral Resource in North America. The Marathon Property covers a land package of approximately 22,000 hectares, or 220 square kilometres. Generation Mining acquired a 51% interest in the Marathon Property from Sibanye Stillwater on July 10, 2019 and can increase its interest to 80 per cent by spending $10 million over a period of four years. As of Q1, 2020, approximately $4 million of the $10 million has already been spent. Sibanye Stillwater has certain back-in rights that can bring its interest in the Property back to 51 per cent after such time as Generation Mining has earned its 80-per-cent interest (see the company's press release of July 11, 2019, for more details). For further information please contact: Jamie LevyPresident and Chief ExecutiveOfficer(416) 640-2934(416) [email protected] Forward-Looking Information This news release includes certain information that may be deemed “forward-looking information” under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work t...