VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (TSX:MAX / OTCQX:MDRPF) today announced that its shares are now quoted on OTCQX International, a segment of the OTCQX marketplace in the U.S., which should provide for greater access to the U.S. capital markets and an additional trading platform for shareholders.
Midas Gold initiated its quotation today on OTCQX International under the ticker MDRPF. Investors can find real-time quotes, disclosure and financial information for Midas Gold at www.otcqx.com and www.otcmarkets.com.
“Midas Gold is pleased to be providing our current and future shareholders with access to this additional trading platform,” commented Stephen Quin, President & CEO of Midas Gold Corp. “A quotation on the OTCQX marketplace is a natural progression for Midas Gold since its Golden Meadows gold-silver-antimony-tungsten project is located in Idaho, USA and we already have a significant number of U.S. shareholders.”
The U.S. investment bank, Cowen and Company, serves as Midas Gold’s Principal American Liaison (“PAL”) on the OTCQX International and is responsible for providing guidance on OTCQX requirements and arranging a comprehensive suite of U.S. capital markets services.
“We are very pleased to be working with Midas Gold to make the best of its OTCQX trading. We look forward to supporting Midas Gold’s experience in the United States,” said Chris Weekes, Managing Director, Cowen and Company, International Markets Group.
About Midas Gold and the Golden Meadows Project
Midas Gold Corp., through its wholly owned subsidiaries, is focused on the exploration and, if warranted, development of gold, silver, antimony and tungsten deposits in the Stibnite‐Yellow Pine district of central Idaho. The principal deposits identified to date within the project area are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits and reported in a news release dated June 27, 2012; these estimates are detailed in a technical report entitled “Preliminary Economic Assessment Technical Report for the Golden Meadows Project, Idaho” dated August 15, 2012, (the “Technical Report”), which is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com. This Preliminary Economic Assessment outlines one concept for the development of a large scale, long life, low cost open pit gold mining operation producing gold and by-product silver and antimony based on the estimated mineral resources, as well as outlining a number of opportunities for potential environmental, financial and technical enhancements of the conceptual project that are currently being evaluated.
About Cowen Group, Inc.
Cowen and Company, the broker-dealer business of Cowen Group, Inc. (NASDAQ: COWN), provides industry focused investment banking for growth-oriented companies, domain knowledge-driven research services and a robust sales and trading platform to companies and institutional investor clients. Sectors of focus for the business include healthcare, technology, telecommunications, aerospace and defense/industrials, consumer, energy, metals and mining and transportation. Founded in 1918, Cowen Group is headquartered in New York and has offices located in major financial centers around the world. For more information, visit www.cowen.com.
The OTCQX marketplace offers the best informed and most efficient trading for U.S. and global companies. To qualify for the OTCQX marketplace, companies must meet high financial standards, be current in their disclosure, and be sponsored by a professional third-party advisor. Designed for the largest, most liquid, and investor-friendly companies, OTCQX ensures that investors have the information necessary to intelligently analyze, value and trade their securities. For more information, please visit www.otcqx.com and www.otcmarkets.com.
For further information about Midas Gold Corp., please contact:
Liz Caridi - Manager, Investor Relations
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Corporation’s properties; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, “anomalous” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions, including, but not limited to, that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Corporation’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Corporation’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Corporation’s lack of operating revenues; governmental regulations and the ability to obtain necessary licenses and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Corporation’s public disclosure record. Although the Corporation has attempted to identify important factors that could affect the Corporation and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.
Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.