Delrey Announces Form 211 Clearance from FINRA and DTC Eligibility
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC: DLRYF) ("Delrey" or the "Company") is pleased to announce that its submission of Form 211 to FINRA has been cleared and the Company's shares now qualify for trading in the United States on the OTC Pink Market. Delrey has also secured DTC eligibility by the Depository Trust Company ("DTC") for its shares traded on the OTC Pink Market, under the symbol "DLRYF".
The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. Being DTC eligible is expected to greatly simplify the process of trading and transferring the Company's common shares on the OTC Pink Market.
DTC is focused on creating liquidity and stability in the global capital markets by providing electronic clearance and settlement of equity trades. Having access to DTC services gives the Company better exposure to the capital markets while at the same time offers various services including greater transparency of the Company's shares.
"This is an exciting step for Delrey which now provides US based investors the ability to more easily participate in our rapidly developing energy metals story," commented Morgan Good, Delrey President and CEO.
Delrey is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties, specifically in the strategic energy metals space. The Company recently announced an LOI to acquire an 80% interest in the Four Corners Project in Newfoundland and Labrador. The Four Corners Project hosts iron-titanium-vanadium mineralisation and subject to considerable historic exploration, drilling and metallurgical work showing positive results. The project is easily accessible with highway access and power lines intersecting the property. It is 35km away from the commercial town of Stephenville and a deep-water port providing everything necessary for its exploration and development. The Company has also recently purchased the Star, Porcher, Peneece and Blackie iron-titanium-vanadium properties located along tide-water in Northwest British Columbia. Delrey will continue to review and acquire projects showing potential for materials used in the energy storage and electric vehicle markets. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol "DLRY".
Scott Dorion, P.Geo., is the designated Qualified Person of the Company as defined by NI 43-101 and has reviewed and approved the technical information contained in this release.
ON BEHALF OF THE BOARD OF DIRECTORS OF
DELREY METALS CORP.
President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, but are not limited to, general business and economic uncertainties. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Management's Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44667