Nevada Energy Metals Announces Submission of OTCQB Market Application
May 12, 2016 (Source) — Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; Pink: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that it has commenced the process to upgrade the Company to the OTCQB® Venture Market. The Company currently trades on the Pink® Open Market.
CEO Rick Wilson commented, “We are excited about submitting the application to upgrade to OTC Markets Group’s OTCQB Venture Market. We expect that, if granted, this designation will facilitate an increased following of shareholders and brokers who are more comfortable with OTCQB market standards.”
The OTCQB Venture Market, operated by OTC Markets Group Inc., is designed for entrepreneurial and development stage U.S. and international companies. To be eligible, companies must meet a minimum $0.01 bid price test, be current in their reporting and undergo an annual verification and management certification process. OTCQB companies cannot be in bankruptcy. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. OTCQB criteria include:
- -Companies are current in their reporting to a U.S. regulator or are listed on a qualified international stock exchange
- -Minimum bid price test of $0.01 removes companies that are most likely to be the subject of dilutive stock fraud schemes and promotion
- -A verified Company Profile displayed on www.otcmarkets.com that is current and complete
- -Annual management certification process to verify officers, directors, controlling shareholders, and shares outstanding
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well-funded Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 87 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America. Nevada Energy Metals has also acquired, 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a highly prospective lithium exploration project, 100% owned without any royalties, located on the western part of a large evaporation lake where a phase one, 27 hole shallow auger exploration program has been completed and results are pending. Recently, the Company announced the addition of the San Emidio Desert lithium project, consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada. The Company’s first lithium project, Alkali Lake, in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp, where near surface lithium has been confirmed.
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On Behalf of the Board of Directors
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release may include “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. It is important that each person reviewing this release understand the significant risks attendant to the operations of the Company. Nevada Energy Metals Inc. disclaims any obligation to update any forward-looking statement made herein.
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