OTC Markets Group Welcomes Collective Mining Ltd to OTCQX

Rhea-AI Summary

Collective Mining Ltd has successfully upgraded its trading status to OTCQX Best Market from the Pink market, now trading under the symbol ‘CNLMF.’ This move allows U.S. investors easier access to invest in the company without needing a Canadian trading account. Collective Mining, focused on mineral exploration in South America, aims to replicate past successes in Colombia with significant grassroots discoveries in their projects. The company holds options for a 100% interest in two Colombian projects, yielding promising early results in gold equivalent assays.

Positive

• Upgrade to OTCQX Best Market improves transparency and accessibility for U.S. investors.
• Successful grassroots discoveries at Guayabales and San Antonio projects indicate strong mineral potential.

Negative

• None.

NEW YORK, June 28, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Collective Mining Ltd (TSX-V: CNL; OTCQX: CNLMF), an exploration and development company focused on identifying and exploring prospective mineral projects in South America, has qualified to trade on the OTCQX® Best Market. Collective Mining Ltd upgraded to OTCQX from the Pink® market.

Collective Mining Ltd begins trading today on OTCQX under the symbol “CNLMF.” 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.

"We are pleased to reach the milestone of trading on OTCQX, as this will make it easier for our U.S. employees and investors to invest in Collective Mining by reducing the requirement of having a Canadian trading account," said Ari Sussman, Executive Chairman of Collective.

Nauth LPC acted as the company’s OTCQX sponsor.

About Collective Mining Ltd

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations)

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

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

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

 

FAQ

What is the significance of Collective Mining's upgrade to OTCQX?

The upgrade to OTCQX allows Collective Mining to offer transparent trading for U.S. investors and simplifies investment processes.

What trading symbol will Collective Mining use on the OTCQX?

Collective Mining will trade under the symbol ‘CNLMF’ on the OTCQX.

What projects is Collective Mining focused on?

Collective Mining focuses on mineral exploration projects in Colombia, specifically the Guayabales and San Antonio projects.

What kind of discoveries has Collective Mining made recently?

The company has reported significant grassroots discoveries, with promising gold equivalent assay results from its projects.