Borealis Engages ICP Securities Inc. for Automated Market Making Services
Borealis Mining Company has announced an agreement with ICP Securities to provide automated market making services. The agreement includes the use of ICP's proprietary algorithm, ICP Premium™, in compliance with TSX Venture Exchange policies. Under the terms, ICP will receive a monthly fee of $7,500 for an initial four-month term, with no performance-based compensation or stock options. ICP's primary role will be addressing temporary supply and demand imbalances in Borealis shares, with ICP bearing all costs related to trading activities.
Borealis Mining Company ha annunciato un accordo con ICP Securities per fornire servizi di market making automatizzati. L'accordo prevede l'uso dell'algoritmo proprietario di ICP, ICP Premium™, in conformità con le politiche della TSX Venture Exchange. Secondo i termini, ICP riceverà una commissione mensile di $7.500 per un primo periodo di quattro mesi, senza compenso basato sulle performance o opzioni su azioni. Il ruolo principale di ICP sarà quello di affrontare gli squilibri temporanei tra domanda e offerta delle azioni Borealis, con ICP che si farà carico di tutti i costi relativi alle attività di trading.
Borealis Mining Company ha anunciado un acuerdo con ICP Securities para proporcionar servicios de creación de mercado automatizados. El acuerdo incluye el uso del algoritmo propietario de ICP, ICP Premium™, en cumplimiento con las políticas de la TSX Venture Exchange. Según los términos, ICP recibirá una tarifa mensual de $7,500 por un período inicial de cuatro meses, sin compensación basada en el rendimiento ni opciones sobre acciones. El papel principal de ICP será abordar los desequilibrios temporales de oferta y demanda en las acciones de Borealis, asumiendo ICP todos los costos relacionados con las actividades de comercio.
보레알리스 마이닝 컴퍼니는 ICP 증권과 자동화된 시장 조성 서비스 제공을 위한 협정을 발표했습니다. 이 협정에는 TSX 벤처 거래소 정책에 따라 ICP의 독점 알고리즘인 ICP Premium™의 사용이 포함됩니다. 조건에 따라 ICP는 초기에 월 $7,500의 수수료를 받으며, 4개월 동안의 기간 동안 성과 기반 보상이나 주식 옵션은 없습니다. ICP의 주요 역할은 보레알리스 주식의 일시적인 공급과 수요 불균형을 해결하는 것이며, 거래 활동과 관련된 모든 비용을 ICP가 부담합니다.
Borealis Mining Company a annoncé un accord avec ICP Securities pour fournir des services de création de marché automatisés. L'accord comprend l'utilisation de l'algorithme propriétaire d'ICP, ICP Premium™, en conformité avec les politiques de la TSX Venture Exchange. Selon les termes, ICP recevra une commission mensuelle de 7 500 $ pour une durée initiale de quatre mois, sans compensation basée sur la performance ni options d'actions. Le rôle principal d'ICP sera de traiter les déséquilibres temporaires entre l'offre et la demande des actions Borealis, ICP prenant en charge tous les coûts liés aux activités de trading.
Borealis Mining Company hat eine Vereinbarung mit ICP Securities bekannt gegeben, um automatisierte Market-Making-Dienste bereitzustellen. Die Vereinbarung umfasst die Nutzung des hauseigenen Algorithmus von ICP, ICP Premium™, in Übereinstimmung mit den Richtlinien der TSX Venture Exchange. Gemäß den Bedingungen erhält ICP eine monatliche Gebühr von 7.500 $ für einen anfänglichen Zeitraum von vier Monaten, ohne leistungsbezogene Vergütung oder Aktienoptionen. Die Hauptaufgabe von ICP besteht darin, temporäre Ungleichgewichte zwischen Angebot und Nachfrage bei Borealis-Aktien anzugehen, wobei ICP alle Kosten im Zusammenhang mit Handelsaktivitäten übernimmt.
- None.
- Company will incur additional monthly expenses of $7,500 for market making services
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2024) - Borealis Mining Company Limited (TSXV: BOGO) (FSE: L4B0) (the "Company" or "Borealis") is pleased to announce an agreement (the "Agreement") to engage the services of ICP Securities Inc. ("ICP") to provide automated market making services, including the use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.
Under terms of the Agreement, ICP will receive a monthly fee of
ICP is an arm's length party to the Company. ICP's market making activity will be primarily aimed at correcting temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
About ICP Securities
ICP Securities Inc. is a Toronto-based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About Borealis
Borealis is a gold mining and exploration company focused on exploration and resumption of production of the Borealis Mine in Nevada. The Borealis Mine is a fully permitted minesite, equipped with active heap leach pads, an ADR facility, and all necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the property, comprised of 751 unpatented mining claims of approximately 20 acres each totalling approximately 15,020 acres and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulfidation gold mineralization. Borealis is led by a strong board and management team, many of whom have founded, managed, and sold highly successful mining and exploration companies.
For further information, please contact:
Kelly Malcolm
President and Chief Executive Officer
info@BorealisMining.com
Office: (289) 371-3371
This news release may contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230376
FAQ
What is the cost of ICP Securities' market making services for Borealis (BOREF)?
What services will ICP Securities provide to Borealis (BOREF)?
Will ICP Securities receive any equity compensation from Borealis (BOREF)?
