NEW YORK, May 3, 2011 /PRNewswire/ -- OTC Markets Group
Inc. (OTCQX: OTCM), the financial information and technology
services company that provides the world's largest electronic
marketplace for broker-dealers to trade unlisted stocks, today
announced that Pele Mountain Resources (TSX.V: GEM; OTCQX: GOLDF),
a company focused on the sustainable development of its Eco Ridge
Mine Rare Earths and Uranium project in Ontario, is now trading on the OTC market's
highest tier, OTCQX®.
(Logo: http://photos.prnewswire.com/prnh/20110118/MM31963LOGO
)
Pele Mountain began trading today
on the OTC market's prestigious tier, OTCQX International.
Investors can find current financial disclosure and Real-Time
Level 2 quotes for the Company on www.otcqx.com and
www.otcmarkets.com.
"OTCQX provides the highest level of visibility and access to
U.S. investors possible in the OTC marketplace," said R. Cromwell Coulson, President and Chief
Executive Officer of OTC Markets Group. "We are pleased to welcome
Pele Mountain to OTCQX."
Merriman Capital, Inc. will serve as Pele Mountain's Principal American Liaison
("PAL") on OTCQX, responsible for providing guidance on OTCQX
requirements.
About Pele Mountain Resources, Inc.
Pele Mountain Resources (TSX.V: GEM; OTCQX: GOLDF) trades in
the United States on OTCQX under
the symbol "GOLDF".
Pele Mountain Resources is focused on the sustainable
development of its 100-percent owned Eco Ridge Mine Rare Earths and
Uranium Project. Eco Ridge is one of very few North American
deposits with NI 43-101 compliant REO resources and is located in
Elliot Lake, the only Canadian
mining camp to have ever achieved commercial REO production.
An updated Preliminary Assessment is on schedule for expected
delivery during the second quarter of 2011, incorporating design
enhancements achieved since the initial positive Scoping Study in
2007 and, for the first time, providing a detailed economic model
based on revenues from both REO and U3O8 . With
well-understood geology, excellent regional infrastructure, and
strong local support, Eco Ridge is
an ideal location for a safe, secure, and reliable long-term supply
of REO and U3O8. Pele also holds interests in a
portfolio of Northern Ontario gold
properties at Highland and Ardeen.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's
largest electronic marketplace for broker-dealers to trade unlisted
stocks. Our OTC Link™ platform supports an open network of
competing broker-dealers that provide investors with the best
prices in over 10,000 OTC securities. In 2010, securities on
OTC Link traded over $144 billion in
dollar volume, making it the third largest U.S. equity trading
venue after NASDAQ and the New York Stock Exchange. We
categorize the wide spectrum of OTC-traded companies into three
tiers - OTCQX (the quality-controlled marketplace for investor
friendly companies), OTCQB® (the U.S. reporting company marketplace
for development stage companies), and OTC Pink™ (the speculative
trading marketplace) - so investors can identify the level and
quality of information companies provide. To learn more about
how OTC Markets Group makes the unlisted markets more transparent,
informed, and efficient, visit www.otcmarkets.com.
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SOURCE OTC Markets Group Inc.
