Sierra Madre Announces DTC Eligibility
Sierra Madre Gold and Silver Ltd. (OTCQB: SMDRF) announced DTC eligibility for its shares, enhancing trading convenience and liquidity in the U.S. market. This move facilitates faster electronic clearing and reduces trading costs, potentially appealing to both existing and new investors. President Alexander Langer expressed confidence that this development will expand their growing U.S. investor base, building on their recent OTCQB listing approval.
- DTC eligibility enhances trading convenience and liquidity for shares.
- Electronic clearing reduces trading costs for investors.
- Expected increase in U.S. investor participation.
- None.
VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQB:SMDRF) ("Sierra Madre" or the "Company") is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered "DTC eligible". DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company's common shares in the United States over time. The ability to have Sierra Madre's shares electronically cleared and settled in the United States is far more convenient and reduces the costs incurred in trading shares. With Sierra Madre's shares now traded electronically, existing investors benefit from greater liquidity over time and execution speeds, while new investors are far less restricted from participating in Sierra Madre's shares. The DTC is the largest securities depository in the world and facilitates electronic settlement of stock certificate transfers in the United States. This electronic method of clearing securities accelerates the settlement process for investors and brokers.
Alexander Langer, President & CEO of Sierra Madre stated, "DTC eligibility compliments our recent listing approval on the OTCQB® Venture Marketplace announced on December 8, 2021. We believe we should now be able to further enhance our sizable and increasing US investor base."
About Sierra Madre
Sierra Madre Gold and Silver Ltd. is a mineral exploration company, currently focused on the acquisition, exploration and development of the Tepic and La Tigra Properties in Nayarit, Mexico. The Company has an experienced management team with a proven track record of wealth creation in Mexico through project discovery, advancement, and monetization. Sierra Madre's key objective is to advance exploration on the Tepic and La Tigra Properties to determine whether they contain commercially exploitable deposits of precious or base metals.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director
Contact:
investor@sierramadregoldandsilver.com
Cautionary Note
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 news release.
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect plans for the La Tigra property, including the prospect of preparing a technical report containing a mineral resource estimate. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the La Tigra Property may not yield the results expected and the general risk factors related to exploration and development as are set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Sierra Madre Gold and Silver
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