CALGARY, ALBERTA -- (Marketwired) -- 04/10/13 -- New Millennium Iron Corp. ("NML" or the "Corporation") (TSX: NML) (OTCQX: NWLNF) is pleased to announce that NML's common shares are now trading in the United States on the OTCQX International under the symbol "NWLNF". The OTCQX is the premier marketplace on OTC Markets Group's highly visible electronic trading venue in the U.S. and the OTCQX International tier is designed for non-U.S. companies listed on qualified international stock exchanges. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Corporation on http://www.otcmarkets.com/stock/NWLNF/quote.
NML expects to benefit from its trading on the OTCQX International by gaining greater exposure, accessibility and liquidity in the United States.
"We are proud to join OTCQX, which will enable us to provide our U.S. investors with timely news and information to help them better analyze, value and trade our securities," said Dean Journeaux, President and CEO of New Millennium Iron Corp.
"We are pleased New Millennium Iron Corp. has chosen to trade on OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "OTCQX companies demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards."
Stifel, Nicolaus & Company, Inc. will serve as NML's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.
About New Millennium
The Corporation controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds one of the world's largest undeveloped magnetic iron ore deposits. In the same area, the Corporation and Tata Steel Limited, one of the largest steel producers in the world, are advancing a Direct Shipping Ore ("DSO") Project to near term production. Tata Steel Limited owns approximately 26.3% of New Millennium and is the Corporation's largest shareholder and strategic partner.
Tata Steel exercised its exclusive option to participate in the DSO Project and has a commitment to take the resulting production (see news release 10-16 dated September 14, 2010). The DSO Project is owned and operated by TSMC, which in turn is 80% owned by Tata Steel and 20% owned by NML. The DSO Project contains 64.1 million tonnes of Proven and Probable Mineral Reserves at an average grade of 58.8% Fe, 21.0 million tonnes of Measured and Indicated Mineral Resources at an average grade of 59.2% Fe, 10.3 million tonnes of Inferred Resources at an average grade of 58.3% Fe and about 25.0 - 30.0 million tonnes of historical resources that are not currently in compliance with NI 43-101 (see news release 09-03 dated February 11, 2009, news release 09-05 dated March 4, 2009, news release 09-16 dated December 9, 2009, news release 10-12 dated July 8, 2010 and news release 12-14, dated May 31, 2012). A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, the Corporation is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon.
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