VANCOUVER, Nov. 11, 2011 /CNW/ - Northern Iron Corp ("Northern") (TSX-V: NFE) (OTCQX: NHRIF) (Frankfurt: N8I) today announced that Northern's shares will commence trading on the
OTCQX International Marketplace ("OTCQX") at market open today, November 11, 2011 under the symbol "NHRIF". "
The OTCQX gives Northern access to a large premium market in the United
States with strong standards where many internationally respected
companies trade," stated Basil Botha, President and CEO of Northern. "The OTCQX has a reputation of
providing U.S. investors with improved liquidity, transparency and
superior information through its U.S. regulated broker-dealers, and
will provide U.S. investors with a mechanism to invest in a Canadian
iron ore project that is projected to provide North American steel mills with a new source of value added raw material."
Northern has retained Merriman Capital Inc. ("Merriman") to serve as
Principal American Liaison ("PAL") on the OTCQX, responsible for
providing guidance on OTCQX requirements. Merriman Capital Inc. is a
wholly owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR) and
is a member of FINRA (www.finra.org) and SIPC (www.sipc.org).
Spencer Grimes, Managing Director at Merriman, commented: "We are
pleased to have assisted Northern with the launching of its trading on
the OTCQX and look forward to extending our relationship with the
Company as its PAL."
Investors will be able to find current financial disclosure, real-time
Level 2 quotes for Northern's shares, and further information on the
OTCQX by visiting the following websites: www.otcqx.com and www.otcmarkets.com.
The Company's information will be made available via S&P Capital IQ's
Market Access Program, an information distribution service that enables
subscribing publicly traded companies to have their company information
disseminated to users of S&P Capital IQ's MarketScope Advisor. The
company information to be made available through this program includes
share price, volume, dividends, shares outstanding, company financial
position, and earnings at:
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than 100,000 investment advisors. A public version of the site is
available at http://advisor.marketscope.com
In addition, information about companies in S&P Capital IQ's Market
Access Program will be available via the firm's Stock Guide database,
which is distributed electronically to virtually all major quote
vendors. As part of the program, a full description of Northern Iron
Corp. will also be published in the Daily News section of Standard
Corporation Records, a recognized securities manual for secondary
trading in up to 38 states under their Blue Sky Laws.
Northern's shares will remain listed and continue to trade on the TSX-V
in Canada under the symbol "NFE".
About Northern Iron
Northern Iron is a mineral resource company engaged in reviving a past
producing iron mine and concurrent exploration of high quality iron ore
resources in the Red Lake mining division, district of Kenora, Ontario,
Northern Iron holds 100% interest in minerals claims covering
approximately 14,672 hectares, comprised of the El Sol Property, the past producing Griffith Property, the Karas Property, the Papaonga Property and the Whitemud-Slate Property.
The Griffith Mine owned at the time by Stelco, produced 78.8million
tonnes of iron ore for conversion to pellets and DRI from 1968-1989.
Total magnetic iron recovery was 86.26%
The Red Lake area is accessible year round by Highway 105, which joins
the Trans Canada highway at Vermillion Bay, 175 km south and 100 km
east of Kenora. Commercial air services operate to Red Lake from
Thunder Bay, Ontario and Winnipeg, Manitoba
The foregoing information may contain forward-looking statements
relating to the future performance of the Company. Forward-looking
statements, specifically those concerning future performance, are
subject to certain risks and uncertainties, and actual results may
differ materially from the Company's plans and expectations. These
plans, expectations, risks and uncertainties are detailed herein and
from time to time in the filings made by the Company with the TSX
Venture Exchange and securities regulators. The Company does not
assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events or
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority
has approved of disapproved the information contained herein.
SOURCE Northern Iron Corp.
For further information:
President & CEO
Northern Iron Corp.
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