Iron Mining Group Moves to OTC Link Electronic Trading Platform
March 04 2011 - 3:25PM
Business Wire
Iron Mining Group, Inc. (OTCQB:IRNN), a global iron ore mining
company (“IGM”), announced today that it is no longer quoted on the
OTCBB quotation and trading system and is now quoted solely on the
OTCQB, part of OTC Markets Group, Inc.’s OTC Link™ electronic
platform (“OTC Link”). IMG had previously been dual listed on both
quotation systems. This change is not the result of any action or
inaction by the Company, which continues to be in full compliance
with all of its U.S. Securities & Exchange Commission reporting
requirements.
A changing U.S. market for over the counter equities in recent
years has added transparency and efficiency to benefit investors.
The OTC Link electronic interdealer quotation and trading system
has become one of the leading platforms in the U.S., supplanting
the OTCBB, which continues to operate as a telephonic trading
platform. The OTCQB, where IMG currently trades, is the second of
three tiers in the OTC marketplace and is reserved for companies
that are current in all SEC reporting requirements.
Securities on the OTC Link traded over USD $144 billion in
volume in 2010, making it the third largest U.S. equity-trading
venue, after NASDAQ and the NYSE. Currently, OTC Link makes up
approximately 95% of the priced quotes published in the broader OTC
marketplace. In the 30 days preceding March 2nd, 2011, the last day
for which data is available, 837 publicly traded companies moved
from being dually quoted on the OTCBB and OTC Link, to being quoted
exclusively on the OTC Link platform.
“We are pleased to know that by migrating to the OTCQB, IMG will
maximize its visibility to current and potential investors. No
matter where IMG is quoted, we will remain a fully reporting and
transparent company, which we believe is the cornerstone of
building and maintaining shareholder trust and confidence,”
commented IMG Chief Executive Officer, Garrett K. Krause. He added,
“As we continue through 2011, we will continue to take all
necessary steps toward listing our shares on a major global
exchange.”
About Iron Mining Group,
Inc.
Iron Mining Group, Inc., (“IMG”) is a global iron ore mining
company with its initial focus in Latin America. The Company has
entered this marketplace at a time when the largest iron ore
customer, China, seeks to alter the status quo by shifting power
away from the traditional iron ore producers. IMG has current iron
ore operations in Chile and Mexico.
For more information, please refer to
www.IronMiningGroup.com.
Forward Looking Statements:
Certain statements in this release and other written or oral
statements made by or on behalf of the Company are “forward looking
statements” within the meaning of the federal securities laws.
Statements regarding future events and developments and our future
performance, as well as management’s expectations, beliefs, plans,
estimates or projections relating to the future are forward-looking
statements within the meaning of these laws. The forward looking
statements are subject to a number of risks and uncertainties
including market acceptance of the Company’s services and projects
and the Company’s continued access to capital and other risks and
uncertainties outlined in its filings with the Securities and
Exchange Commission, which are incorporated herein by reference.
The actual results the Company achieves may differ materially from
any forward-looking statements due to such risks and uncertainties.
These statements are based on our current expectations and speak
only as of the date of such statements.