Troy Minerals Engages Independent Trading Group As Market Maker

Rhea-AI Summary

TroyMinerals Inc. engages Independent Trading Group for market-making services and extends marketing contract with i2i Marketing Group. The agreement with ITG involves a monthly compensation of CAD$5,000 for three months, focusing on enhancing liquidity and maintaining a reasonable market. The extension with i2i Marketing Group is for 60 days or until fund exhaustion of US $150,000, emphasizing the arm's length relationship between the parties.

VANCOUVER, BC / ACCESSWIRE / February 23, 2024 / TroyMinerals Inc. ("Troy" or the "Company") (CSE:TROY);(OTCQB:TROYF);(FSE:VJ3) is pleased to announce it has engaged the services of Independent Trading Group ("ITG") to provide market-making services in accordance with policies of the Canadian Securities Exchange ("CSE"). ITG will trade shares of the Company on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the agreement, ITG will receive compensation of CAD$5,000 per month, payable monthly in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

The Company also announces that it has extended its marketing contract with i2i Marketing Group LLC, previously announced on November 24, 2023. The extension will be for a period of 60 days or until fund exhaustion of US $150,000. The issuer and i2i Marketing Group are at arm's length.

ON BEHALF OF THE BOARD,
Rana Vig | Presidentand Director
Telephone: 604-218-4766
Email: rana@ranavig.com

About Independent Trading Group
Independent Trading Group (ITG) Inc. is a Toronto-based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG 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.

AboutTroy Minerals Inc.
Troy Minerals is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. The Company currently holds an interest in four assets.

The Lake Owen project (formerly SW2) is a highly perspective Vanadium, Titanium and Iron ore-rich project that consists of 91 mineral claims located approximately 50km southwest of Laramie, Wyoming USA. The property is a one billion tonne plus target in a Proterozoic Layered Mafic Intrusive host with strong magnetite-rich cumulates and accompanying V/Ti and Pt/Pd/Au/Rh-bearing sulfide horizons.

The Lac Jacques project is a drive to project with close infrastructure located approximately 250km north of Montreal Quebec, Canada and is comprised of twenty20 mineral claims totaling 1170 ha. The Property hosts high-grade REE mineralization at the surface in a structurally controlled and steeply dipping carbonatite dike up to 25 meters thick with multi-kilometer potential.

The Green Gold project, in which the Company has the right to acquire 100% interest, is comprised of 14 mineral claims with an aggregate area of 11,238 hectares, is located in central British Columbia in the Cariboo Mining Division, approximately 34 km southwest of the city of Prince George.

The Ticktock project, a 1,065-hectare property located within the prolific Golden Triangle region of British Columbia, Canada, lies 23km northwest of the historic Eskay Creek Mine and sits between the Enduro Metals Newmont Lake property and the Aben Resources Forrest-Kerr property.

Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed"forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Troy ResourcesInc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE: Troy Minerals Inc.

View the original press release on accesswire.com

FAQ

What services has TroyMinerals Inc. engaged ITG for?

TroyMinerals Inc. has engaged Independent Trading Group for market-making services.

What is the compensation amount for ITG under the agreement?

ITG will receive CAD$5,000 per month as compensation under the agreement.

How long is the initial term of the agreement with ITG?

The initial term of the agreement with ITG is three months.

What is the objective of ITG trading shares of the Company?

ITG aims to maintain a reasonable market and improve the liquidity of the Company's common shares.

With whom has TroyMinerals Inc. extended its marketing contract?

TroyMinerals Inc. has extended its marketing contract with i2i Marketing Group LLC.

What is the duration of the extension with i2i Marketing Group?

The extension with i2i Marketing Group is for 60 days or until fund exhaustion of US $150,000.