VANCOUVER, Jan. 23, 2018 /CNW/ - Blue Moon Zinc Corp. (TSXV: MOON; US OTC: BMOOF) (the "Company") is pleased to report that the common shares of the Company are now quoted for trading in the United States on the OTC Pink Sheets under the trading symbol BMOOF. In addition, the Company's common shares are eligible for delivery and depository services of The Depository Trust Company (the "DTC") to facilitate electronic settlement of transfers of its common shares in the United States. Securities that are eligible to be electronically cleared and settled through the 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 greatly reduces transactional costs for participating stock brokerages. Investors can find the current Canadian financial disclosure of the Company on www.sedar.com.
Effective January 1, 2018, corporate tax rates in the United States were reduced from 35% to 21%, among other changes favoring US businesses. The Company's Blue Moon zinc deposit is domiciled in the US and the corporate tax reduction is expected to be beneficial to the project and the Company's Preliminary Economic Assessment ("PEA") expected to be released in late Q1 2018.
Patrick McGrath, Chief Executive officer, stated, "The US quotation with DTC eligibility should enhance and simplify trading of our shares in the US. The Company's Blue Moon Zinc deposit is based in the US and we believe being quoted and tradable in the US is complementary. We also welcome the recent US corporate tax reduction to 21% which we believe will improve the economics in the upcoming PEA"
About Blue Moon
The 100% owned Blue Moon polymetallic deposit has a Mineral Resource estimate of 3.7 million indicated tons with a grade of 8.3% zinc equivalence including approximately 377 million pounds of zinc and 4.1 million inferred tons with a grade of 7.8% zinc equivalence including approximately 395 million pounds of zinc with significant credits of copper, silver and gold. The resource is open at depth and along strike and historical metallurgical testing indicates excellent recovery and a clean zinc concentrate. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company's website (www.bluemoonmining.com) and filed on SEDAR on November 13, 2017. The Company plans to advance the Blue Moon project through to feasibility, permitting and ultimately production.
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Resource estimates included in this news release are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions set forth in the relevant technical report and otherwise, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for zinc, the results of future exploration, uncertainties related to the ability to obtain necessary permits, licenses and titles, changes in government policies regarding mining, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The securities referenced in this news release have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
SOURCE Blue Moon Zinc Corp.
For further information: Patrick McGrath, CEO, 1-832-499-6009, [email protected]; For additional information related to communications, media relations and investor relations please contact: Terry Bramhall, 1-604-833-6999, [email protected]