NEW YORK, Aug. 15, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Magna Resources Ltd. (OTCQX: MGRZF; CNSX: MNA), a company that is dedicated to the acquisition and development of potash mineral deposits in the U.S. and elsewhere, has been approved to trade on OTCQX®, the best marketplace with qualified companies.
Magna Resources began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange, undergo management reviews and provide their home country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Magna Resources to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "OTCQX provides qualifying companies the ability to distinguish themselves in the U.S. market and increase their visibility with traders, investors, analysts and the media through high-quality disclosure, transparent trading and ease of access to company information. We look forward to supporting the management team at Magna as they continue to grow the company and provide a robust public market for their shares."
"Trading on the OTCQX marketplace will help broaden and enhance Magna's investor reach by facilitating a larger number of U.S. brokers to market our shares and providing U.S. investors clear access to trade in our stock," said Mike Sieb, Magna's President. "The current strength in the U.S. markets combined with the advancement of our U.S.-based major asset makes OTCQX marketplace an ideal trading venue to contribute significantly to the growth of the company."
Scarsdale Equities LLC will serve as Magna Resources' Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Magna Resources is dedicated to the acquisition and development of potash mineral deposits in the USA and elsewhere, and trades on the Canadian National Stock Exchange under the symbol "MNA" and in the U.S. on OTCQX under the symbol "MGRZF." The company holds certain potash leases and an option in respect of certain potash lease applications in the state of Utah that constitute the Green River Potash Project, host to a significant potash exploration target through a wholly owned subsidiary, American Potash LLC, a Nevada limited liability corporation.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace with Qualified Companies; OTCQB®, The Venture Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The Open Marketplace with Variable Reporting Companies. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.