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Noram Ventures starts trading on OTCBB, cash swells

Friday, September 30, 2016 9:49
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Noram Ventures Inc (CVE:NRM), the Canada-based junior exploration company with interests in lithium and graphite claims, said its common shares began trading on the OTC Bulletin Board in the United States under the symbol NRVTF this week.

The OTCBB is a United States’ quotation medium operated by the Financial Industry Regulatory Authority for its subscribing members. It is used for many over-the-counter equity securities that are not listed on the Nasdaq Stock Market or a national stock exchange. Broker-dealers who subscribe to the system can use the OTCBB to enter orders for OTC securities that qualify to be quoted.

Noram will continue to trade on the TSX Venture Exchange under its existing symbol NRM and the Frankfurt Exchange under the symbol N7R.

“Admission to the OTCBB market is part of a long-term strategy to introduce the company to a broader international audience,” said Mark Ireton, president and chief executive officer of Noram.

“This provides us with a trading platform for current and future American investors, as well as a means of increasing our international visibility,” he added.

The company also announced it is hiring Brad Peek, CPG, to complete an independent NI 43-101 technical report on its lithium brine/clay projects in the Clayton Valley, Nevada.

Peek is a member of the Society of Economic Geologists and the American Institute of Professional Geologists and has been associated with Noram’s Clayton Valley project since its initial acquisition of the lithium properties, and has been directly responsible for sampling, sample analysis, reporting and development of the drilling program.

Noram Ventures also released its half-year earnings report, which showed that total assets have more than doubled as at July 31 to C$1.86mln from C$851,000 in January.

Cash flow rocketed by C$355,000 in the six months to July 31, to C$360,000 and compared with a cash float of just over C$2,000 on July 31 in 2015.

Noram shares were up 8.3% to C$0.06 on Friday.

Story by ProactiveInvestors


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