Medallion Resources Now Trading on OTCQB Market
VANCOUVER, British Columbia, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) (“Medallion” or the “Company”) is pleased to announce receipt of approval from OTC Markets to trade on the OTCQB market. This listing will increase the accessibility of the Company to U.S.-based retail and institutional investors and aligns well with Medallion’s focus on production of rare-earth elements (“REE”) within North America. Medallion is trading on the OTCQB Venture Market under the symbol MLLOF and the company profile can be viewed at the OTC Markets site.
“While the TSX Venture Exchange remains Medallion’s primary capital market, our leading position in the REE industry, and the importance of REEs to U.S. industry and defense makes the OTCQB Venture Market a natural fit,” said Mark Saxon Medallion President & CEO. “We are working closely with Amvest Capital Inc. of New York for capital markets support, and recently welcomed Talaxis Ltd., a unit of Global commodity trader Noble Limited, as a shareholder and partner.”
The OTC Venture Market (OTCQB) offers developing Canadian companies the benefits of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Streamlined market standards enable Canadian companies to provide a strong baseline of transparency to inform and engage U.S. investors. To be eligible, Canadian companies must be current in their SEDAR reporting and undergo an annual verification and management certification process.
Medallion has developed the Medallion Monazite Process, a proprietary method and related business model to achieve low-cost, near-term, REE production utilizing mineral sand monazite. Monazite is a rare-earth phosphate mineral widely available as a by-product from global mineral sand mining operations.
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