Three Valley Copper Announces OTCQB Application and Adoption of Long-Term Incentive Plan
TORONTO, Sep 17, 2021 (GLOBE NEWSWIRE) – (TSXV: TVC) Three Valley Copper Corp. (“Copper from the Three Valleys“or the”Society“) announces that it has requested that its ordinary shares be traded on OTC Markets, level ‘QB’, a US trading platform operated by OTC Markets Group in New York. The OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable registration requirements. As more information becomes available, the Company will keep its shareholders informed of the status of the application. .
The Company has already submitted its Form 211 to the Financial Industry Regulatory Authority (âFINRAWhich, if accepted, will qualify the Company’s shares for trading in the United States on the over-the-counter market. The Company will also approach the Custodian Trust Company (âFault code) For DTC eligibility, which would greatly simplify the process of trading the common shares of the Company.
The OTCQB is the premier marketplace for early stage and developing US and international companies committed to providing a high quality trading and information experience to their US investors. Companies must be current in their financial reports to go through an annual management audit and certification process, including meeting a minimum bid price and other financial terms. The OTCQB quality standards provide a solid foundation of transparency as well as the technology and regulations to improve the information and trading experience for investors. The OTCQB is recognized by the Securities and Exchange Commission as an established public market providing public information for the analysis and value of securities. Investors can find information on the Company’s quotes and real-time markets, once listed, at https://www.otcmarkets.com.
The Company believes that trading on the OTCQB will provide additional liquidity and increase its visibility in the US capital markets. Three Valley Copper will continue to trade on the TSX Venture Exchange under its symbol “TVC”.
Long-term incentive plan adoption
The Company also announces that it has adopted the long-term incentive plan (the âLTIPâ) Approved by the disinterested shareholders of the Company at its annual general and extraordinary meeting of shareholders held on June 2, 2021 (theâMeeting“).
Under the new LTIP, stock options, restricted stock units, deferred stock units and stock appreciation rights may be granted to directors, officers, employees, service providers and consultants. LTIP is intended to offer a broader range of incentives than the Company’s previous stock option plan to diversify and customize rewards for management and staff to promote long-term retention .
The number of common shares of the Company to be issued under the LTIP, at any time, must not exceed 10% of the total number of common shares issued and outstanding. The LTIP provides that up to 10% of the issued and outstanding common shares will be reserved for issuance under stock option grants on a ârollingâ basis, in addition to a fixed maximum limit. 1,250,000 ordinary shares of the Company reserved for issuance at any time. under grants of restricted stock units, deferred stock units and stock appreciation rights.
The announcement of the adoption of the LTIP is made to meet the requirements of Policy 4.4 of the TSX Venture Exchange – Incentive stock options. Further details regarding the LTIP are included in the Company’s Management Proxy Circular, which was filed on SEDAR in connection with the Meeting. The LTIP remains subject to final approval by the TSX Venture Exchange.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQXÂ® Best Market, the OTCQBÂ® Venture Market and the PinkÂ® Open Market for 11,000 US and global titles. Through OTC LinkÂ® ATS and OTC Link ECN, PTC Market Group Inc. connects a diverse network of brokers who provide liquidity and execution services. The company makes it easy for investors to trade through the broker of their choice and enables companies to improve the quality of information available to investors. To learn more about how OTC Markets Group Inc. creates better informed and efficient markets, visit www.otcmarkets.com.
About Three Valley Copper
Three Valley Copper, headquartered in Toronto, Ontario, Canada, is focused on growing copper production and exploring its core asset, Minera Tres Valles. Based in Salamanca, Chile, MTV is 91.1% owned by the Company and MTV’s main assets are the Minera Tres Valles mining complex and its 46,000 hectares of exploration land. For more information about the Company, please visit www.threevalleycopper.com.
Caution regarding forward-looking information
Certain statements contained in this press release contain forward-looking information (collectively referred to herein as “Forward-looking statements“) within the meaning of applicable Canadian securities laws. The use of any of the words” expect “,” anticipate “,” continue “,” estimate “,” “believe”, “plan”, “intend” and similar expressions are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains forward-looking statements relating to its application for FINRA to be listed on the over-the-counter market, the future trading of its ordinary shares on that market and the benefits for shareholders, and the DTC eligibility application.
While Three Valley Copper believes forward-looking statements to be reasonable, they are not guarantees of future results, performance or achievement. A number of factors or assumptions have been used in developing the forward-looking statements, including the OTC listing application pending approval. Although the Company believes that the expectations and assumptions on which these forward-looking statements and information are based are reasonable, one should not place undue reliance on forward-looking statements and information, as the Company cannot guarantee that they will prove to be correct. . Because forward-looking statements and information deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements if the assumptions underlying the forward-looking statements prove to be inaccurate or if one or more risks or other factors materialize. Readers are cautioned that the above list of risks and uncertainties is not exhaustive. Other risk factors that could affect the business or financial results of the Company are included in the Company’s Annual Information Form dated March 3, 2021 and can be found on the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this press release are made as of the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.
Forward-looking statements speak only as of the date hereof, unless otherwise indicated, and Three Valley Copper assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events. or otherwise, except as expressly required by applicable Canadian securities laws.
For more information:
Chief Executive Officer
T: (416) 943-7107
E: [email protected]
Source: Copper from the Three Valleys.
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.