NEW YORK, July 28, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Sierra Madre Gold and Silver Ltd (TSX-V: SM; OTCQX: SMDRF), a precious metals development and exploration company has qualified to trade on the OTCQX® Best Market. Sierra Madre Gold and Silver Ltd upgraded to OTCQX from the Pink® market.
Sierra Madre Gold and Silver Ltd begins trading today on OTCQX under the symbol “SMDRF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
“We are thrilled to announce that Sierra Madre will once again trade on OTCQX,” stated Alex Langer, President & CEO. “This is an important step for us to provide existing and new shareholders with the ability to purchase shares of Sierra Madre in the U.S., a key market for retail and institutional silver investors.”
Dorsey & Whitney LLP acted as the company’s OTCQX sponsor.
About Sierra Madre Gold and Silver Ltd
Sierra Madre Gold & Silver (TSX.V: SM) is a precious metals development and exploration company, focused on the restart of the La Guitarra Mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic and La Tigra properties in Nayarit, Mexico. The La Guitarra Mine is a permitted, past-producing underground mine which includes a 500 t/d processing facility that operated until mid-2018. The +2,600 ha Tepic project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. La Tigra, located 148 km north of Tepic, has been mined historically; Sierra Madre’s maiden 2022 drill program at the site intercepted shallow mineralization. Sierra Madre’s management has played key roles for managing exploration and development of more than 22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre’s team of professionals has collectively raised over $1B for mining companies.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
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