OTC Markets Group Welcomes Altaley Mining Corporation to OTCQX

Rhea-AI Summary

OTC Markets Group announced that Altaley Mining Corporation has successfully upgraded to trade on the OTCQX® Best Market from the Pink® market. Starting today, Altaley will trade under the symbol ATLYF, enhancing transparency for U.S. investors. CEO Ralph Shearing expressed optimism about the upgrade, citing improved liquidity and visibility. Altaley's Tahuehueto Gold Mine is 70% complete, with a recent $25 million funding package aiding its production goals, targeting initial output by the end of 2021 and full capacity by Q1 2022.

Positive

• Upgraded to OTCQX from Pink market, enhancing visibility and trading transparency.
• CEO expresses optimism about increased liquidity and investor confidence.
• Tahuehueto Gold Mine project is 70% complete with $25 million funding for production.

Negative

• None.

NEW YORK, Sept. 20, 2021 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Altaley Mining Corporation, ("Altaley" or the "Company" - TSX-V: ATLY; OTCQX: ATLYF), a Canadian based mining company, has qualified to trade on the OTCQX® Best Market. Altaley Mining Corporation upgraded to OTCQX from the Pink® market.

Altaley Mining Corporation begins trading today on OTCQX under the symbol "ATLYF."  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.  

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

Altaley CEO, Ralph Shearing states "We are very pleased to be graduating to the OTCQX Market. This will provide our valued US investors with greater liquidity and execution services through OTCQX. It will also help us to build our visibility among US investors. This is an important step in the evolution of the Company. With greater visibility afforded to investors through the mandated disclosure requirements of the OTCQX market, we anticipate that this upgrade will strengthen confidence in Altaley by retail and institutional investors alike as we increase our production of gold, silver and base metals."

Glendale Securities Inc. acted as the company's OTCQX sponsor.

About Altaley Mining Corporation
Altaley Mining Corporation is a Canadian based mining company with two 100% owned Mexican gold, silver, and base metal mining projects. Altaley's Tahuehueto Gold Mine project is in north-western Durango State, Mexico where construction has been advanced to an estimated 70% of completion. With the recently announced US $25 million funding package, Altaley has the funding available to finish construction of its 1,000 tonne per day processing facility and related mine infrastructure to initiate production of gold, silver, lead, and zinc in concentrates at Tahuehueto. The Company is targeting initial pre-production by the end of 2021 and ramping up to full production capacity during Q1 2022. Campo Morado is an operating polymetallic base metal mine, (zinc, lead, copper, gold and silver) with mining and milling equipment currently producing at an average rate of approximately 2,000 tonnes per day, Campo Morado is currently estimated to be Mexico's 6th largest zinc producer.

Altaley also files all corporate public securities documents within Canada on the System for Electronic Document Analysis and Retrieval  www.sedar.com and is quoted on the TSX Venture Exchange in Canada under the symbol "ATLY".

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities.  Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

 

 

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SOURCE OTC Markets Group Inc.

FAQ

What does Altaley Mining Corporation's upgrade to OTCQX mean for investors?

The upgrade to OTCQX indicates improved trading standards, providing U.S. investors with better transparency and liquidity.

When did Altaley Mining Corporation start trading on OTCQX?

Altaley Mining Corporation began trading on OTCQX on September 20, 2021, under the symbol ATLYF.

What is the status of Altaley's Tahuehueto Gold Mine project?

The Tahuehueto Gold Mine project is 70% complete, with plans for initial production by the end of 2021.

How much funding has Altaley Mining Corporation secured for its projects?

Altaley Mining Corporation secured a $25 million funding package to support the completion of its Tahuehueto project.