Canadian gold exploration company Quebec Precious Metals Corp. (QPM:TSX.V) today announced in a news release that "it has received confirmation from the Depository Trust Company (DTC) that its common shares are now eligible for electronic clearing and settlement through DTC in the United States." The firm advised that its shares currently trade under the ticker symbol "CJCFF" on the OTCQB.
Quebec Precious Metals (QPM) noted that the DTC, which it mentioned is a subsidiary of The Depository Trust & Clearing Corp., oversees the electronic processing, clearing and settlement of securities of publicly traded U.S. companies.
The company explained that DTC eligible securities have met the necessary requirements allowing them to be cleared and settled electronically through DTC. The firm pointed out that electronic clearinghouse method provides accelerated processing of transactions for both investors and brokers and allows a security to be traded over a much wider selection of brokerage firms.
Quebec Precious Metals Corp.'s CEO Normand Champigny remarked, "We are pleased that our securities are now DTC eligible. This means that our common shares can be transferred electronically between United States brokerage firms and eliminates physical stock certificates. This is important for American investors."
QPM is a Canadian gold explorer headquartered in Montreal, which owns a large land position in Quebec's highly prospective Eeyou Istchee James Bay territory and is located close to the Éléonore gold mine owned by Newmont Corp. The company stated that its highest priority is the rapid exploration and advancement of its flagship Sakami project to the mineral resource estimate stage.
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