SAN FRANCISCO, May 3, 2011 /PRNewswire/ -- Merriman Capital,
Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (NASDAQ:
MERR), today announced that it will serve as the Principal American
Liaison (PAL) for Pele Mountain Resources Inc. (TSXV: GEM; OTCQX:
GOLDF) as it begins trading on OTCQX®.
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Pele Mountain Resources is focused on the sustainable
development of its Eco Ridge Mine Rare Earths and Uranium project,
located in the Elliot Lake mining
camp of Ontario. The Company
announced today that it is now trading on the OTC market's highest
tier, OTCQX®.
OTCQX distinguishes the best companies traded over-the-counter
(OTC) from more than 9,000 securities traded on the OTCBB and OTC
Link that are not required to meet any financial standards or
undergo a qualitative review.
Spencer Grimes, Merriman Capital
Managing Director, said: "We are excited about the progress that
Pele Mountain Resources' President and CEO, Al Shefsky, and his team are making, and look
forward to seeing more U.S. investors involved in the Company.
Being quoted on OTCQX today is a great first step."
"With rapidly increasing interest in our Eco Ridge Mine Rare
Earths and Uranium project and our portfolio of Northern Ontario gold properties, we are
pleased to begin trading on OTCQX International. OTCQX will provide
Pele with a cost-effective means of enhancing its visibility and
liquidity, benefiting all of our investors, especially those
residing in the United States,"
commented Al Shefsky, President and
CEO of Pele Mountain Resources.
About Merriman Holdings, Inc.
Merriman Holdings, Inc. (NASDAQ: MERR) is a financial services
firm focused on fast-growing companies and the institutions that
invest in them. The company offers high-quality investment
banking, equity research, institutional services and corporate
& venture services, and specializes in three growth industry
sectors: CleanTech, Consumer, Media & Internet and Technology.
For more information, please go to www.merrimanco.com.
Merriman Capital is a member of FINRA and SIPC.
About Pele Mountain Resources Inc.
Pele Mountain Resources Inc. (TSXV: GEM; OTCQX: GOLDF) 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 OTCQX
The OTCQX marketplace is the premier tier of the U.S. OTC
market. Investor-focused companies use the quality-controlled
OTCQX platform to offer investors transparent trading, superior
information, and easy access through their regulated U.S.
broker-dealers. The innovative OTCQX platform offers
companies and their shareholders a level of marketplace services
formerly available only on a U.S. stock exchange. For more
information and to view a full list of OTCQX companies, visit
www.otcqx.com.
Note to Investors
This press release contains certain forward-looking
statements based on our current expectations, forecasts and
assumptions that involve risks and uncertainties. This release does
not constitute an offer to sell or a solicitation of offers to buy
any securities of the Company. Forward-looking statements in this
release are based on information available to us as of the date
hereof. Our actual results may differ materially from those stated
or implied in such forward-looking statements, due to risks and
uncertainties associated with our business, which include the risk
factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements
include statements regarding our expectations, beliefs, intentions
or strategies regarding the future and can be identified by
forward-looking words such as "anticipate," believe," "could,"
"estimate," "expect," "intend," "may," "should," and "would" or
similar words. We assume no obligation to update the information
included in this press release, whether as a result of new
information, future events or otherwise. The Form 10-K/A filed on
April 30, 2010 and the Form 10-Q
filed on November 15, 2010, together
with this press release and the financial information contained
herein, are available on our website, www.merrimanco.com. Please
click on "Investor Relations."
SOURCE Merriman Holdings, Inc.
