OTC Markets Group Welcomes Soma Gold Corp. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. (OTCM) announced that Soma Gold Corp. (SOMA; SMAGF) has qualified to trade on the OTCQX® Best Market, upgrading from the OTCQB® Venture Market. Soma Gold Corp. begins trading on OTCQX under the symbol “SMAGF.” The move reflects Soma's dedication to upholding high standards of corporate governance and financial reporting, fostering increased confidence among investors.

NEW YORK, Jan. 12, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Soma Gold Corp. (TSX-V: SOMA; OTCQX: SMAGF), a mining company focused on gold production and exploration, has qualified to trade on the OTCQX® Best Market. Soma Gold Corp. upgraded to OTCQX from the OTCQB® Venture Market.

Soma Gold Corp. begins trading today on OTCQX under the symbol “SMAGF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

“We are delighted to have met the stringent requirements set by the OTCQX Market, reflecting our dedication to upholding the highest standards of corporate governance and financial reporting,” said Geoff Hampson, Executive Chairman of Soma Gold Corp. “This achievement is a testament to the hard work and resilience of our team, and we believe it will further solidify Soma’s position as a trusted investment opportunity.” He further states, “The move to the OTCQX Market is a crucial step in our ongoing development to foster increased confidence among current and prospective investors. We remain committed to creating value as we continue to grow and expand our operations and presence in the market.”

About Soma Gold Corp.
Soma Gold Corp. ("Soma") owns 100% of the El Bagre mine, which is located on a 41,000 Ha property in Antioquia, Colombia. Soma produced 23,500 AuEq ounces of gold in 2022, 33,500 AuEq ounces in 2023 and is aiming to produce 45,000 total ounces in 2024, 2025 and beyond. Soma owns two mills on the property: a 450 TPD operating mill and a 275 TPD mill set to restart operations in H1 2024, increasing throughput to approx. 600 TPD. The Company has a fully funded program designed to demonstrate the continuity of the mineralization and extend the life of the mine through resource expansion. The Company's most recent NI 43-101 Technical Report, conducted by SLR Associates, reports a NPV of $95 million and a resource of over 404,000 ounces. Soma also owns a property in Tucuma, Brazil, which is under option to Ero Copper of Vancouver.

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 ticker symbol for Soma Gold Corp. on the OTCQX Market?

The ticker symbol for Soma Gold Corp. on the OTCQX Market is 'SMAGF'.

What are the financial standards companies must meet to qualify for the OTCQX Market?

Companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws to qualify for the OTCQX Market.

What is the significance of Soma Gold Corp. moving to the OTCQX Market?

The move reflects Soma's dedication to upholding high standards of corporate governance and financial reporting, fostering increased confidence among investors.

Where can U.S. investors find current financial disclosure and Real-Time Level 2 quotes for Soma Gold Corp.?

U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Soma Gold Corp. on www.otcmarkets.com.