Monarch Mining Receives DTC Eligibility
MONTREAL, June 07, 2021 (GLOBE NEWSWIRE) — MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) is pleased to announce 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. Monarch currently trades on the OTCQX under the ticker symbol GBARF.
DTC is a subsidiary of The Depository Trust & Clearing Corp. DTC manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. This electronic method of clearing securities accelerates the settlement process for investors and brokers, enabling a security to be traded over a much wider selection of brokerage firms.
“By becoming DTC Eligible, Monarch’s common shares can be transferred electronically between U.S. brokerage firms, which is a clear advantage for American investors,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “This will allow those investors to trade more efficiently and at lower cost, which could potentially increase liquidity in our stock.”
Monarch Mining Corporation (TSX: GBAR) is a fully integrated mining company that owns four advanced projects, including the fully permitted past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned and fully permitted Beacon 750 tpd mill. Monarch owns 28,702 hectares (287 km2) of mining assets in the prolific Abitibi mining camp that host 588,482 ounces of combined measured and indicated gold resources and 329,393 ounces of combined inferred resources.
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.