VANCOUVER, BC / ACCESSWIRE / January 12, 2021 / Metallic Minerals (TSX.V:MMG | OTC PINK:MMNGF) ("Metallic Minerals" or the "Company") announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group ("ITG") to provide market-making services in accordance with TSX Venture Exchange ("TSX-V") policies. ITG will trade shares of the Company on the TSX-V and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.
Under the agreement, ITG will receive compensation of CAD$6,000 per month, payable monthly in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and, at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.
The Company further announces it has initiated the process for up listing its common shares to the US OTCQB® Venture Market from the Pink® Open Market. The OTCQB Venture Market, operated by OTC Markets Group Inc. in New York, USA, is a premier market for entrepreneurial and development stage companies that are committed to providing high-quality trading and improved market visibility for U.S. investors to build liquidity and trading volumes. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process.
Greg Johnson, CEO and Chairman of Metallic Minerals, stated: "We believe that the up listing on the US OTCQB® Venture Market along with engagement of ITG as a designated market maker will provide additional market visibility and liquidity for our shareholders and facilitate investment by long-term institutional investors and large investors in the USA and internationally. The Company's common shares will continue to trade under the symbol MMG on the TSX Venture in Canada and under MMNGF in the USA."
The Company also announces that it has granted, effective today, an aggregate of 825,000 stock options (each, an "Option") to certain directors and officers of the Company in accordance with the Company's Long-Term Performance Incentive Plan stock option plan. Each Option is exercisable into one common share in the capital of the Company (each, a "Share") at a price of $0.60 per Share, being the closing price of the Shares on the TSX Venture Exchange on January 11, 2021, for a period of five years from the date of grant. The Options are subject to certain vesting requirements in accordance with the Company's option plan.
About Independent Trading Group
ITG is Canada's only brokerage firm dedicated specifically to professional trading. As Canada's foremost Market Making Firm, ITG provides Market Making and Liquidity Provider services that are objective and focused. With its head office in Toronto, ITG employs real traders and provides real liquidity, with an underlying emphasis on integrity and success. For more information visit www.itg84.com.
About Metallic Minerals
Metallic Minerals Corp. is a growth stage exploration company, focused on high-grade silver and gold in underexplored brownfields mining districts. Our objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Metallic Minerals Corp.