Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) announced in a news release that "it secured Depository Trust Company (DTC) eligibility for its shares traded in the United States under the symbol "PGEZF" effective June 29, 2021."
Group Ten Metals stated that the DTC is a subsidiary of The Depository Trust & Clearing Corp. that is responsible for managing electronic clearing and settlement of shares of publicly traded companies in the U.S. The company explained that the "DTC eligible" designation allows securities to be traded electronically, which in turn speeds up transactions including the receipt of stock and cash and accelerates the settlement process.
The company's President and CEO, Michael Rowley commented, "We are pleased to have secured DTC eligibility to facilitate streamlined trading in the United States where we have a significant shareholder base and trading volume."
"We believe this is a timely development as we look to debut an initial 43-101 mineral resource estimate on our flagship Stillwater West project this summer, with a focus on battery and platinum group metals in a premier U.S. mining district. We look forward to providing updates with respect to our 10,000-meter drill program in the very near term and to rolling out the results from that and other initiatives as they become available," Rowley added.
Group Ten Metals is a mineral exploration company based in Vancouver, B.C., that is focused on developing North American platinum, palladium, nickel, copper, cobalt and gold exploration assets. The firm noted that its primary core asset is the Stillwater West PGE-Ni-Cu-Co + Au project in the state of Montana. The company also owns a gold property in northwest Ontario and a PGE-Ni-Cu-Co project in Canada's Yukon Territory.[NLINSERT]
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