NEW YORK, July 22, 2021 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Salazar Resources Ltd. (TSX-V: SRL) (OTCQX: SRLZF), a company focused on creating value and positive change through discovery, exploration and development in Ecuador, has qualified to trade on the OTCQX® Best Market. Salazar Resources Ltd. upgraded to OTCQX from the OTCQB® Venture Market.
Salazar Resources Ltd. begins trading today on OTCQX under the symbol "SRLZF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
Fredy E. Salazar, CEO and President, commented: "We are delighted to commence trading on the OTCQX, particularly during a period of significant exploration activity for Salazar in Ecuador, which is widely recognized as one of the world's most exciting and under-explored mining jurisdictions. Our experienced team has a proven track record and an unrivalled understanding of the geology in-country, having played an integral role in the discovery of most of the major projects in Ecuador, including the two newest operating gold and copper mines. We are currently focused on leveraging this knowledge to create value for shareholders by seeking the discovery of the country's next commercial copper-gold asset and have drills turning across our portfolio this year."
About Salazar Resources Ltd.
Salazar Resources is focused on creating value and positive change through discovery, exploration and development in Ecuador. The team has an unrivalled understanding of the geology in-country, and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines. Salazar Resources has a wholly-owned pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-core assets. The Company actively engages with Ecuadorian communities and together with the Salazar family it co-founded The Salazar Foundation, an independent non-profit organization dedicated to sustainable progress through economic development. The Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stake fully carried through to production. A feasibility study is underway and a 2019 PEA generated a base case NPV(8%) of US$288 million. At two copper-gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried through to a construction decision.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
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