Sunward Resources commences trading on the U.S. OTCQX
VANCOUVER, Dec. 15, 2011 /CNW/ – Sunward Resources Ltd. (TSXV: SWD) (OTCQX: SNWRF) announces that its common shares began trading today on OTCQX International in the United States.
“Trading on OTCQX is expected to increase trading liquidity and will provide American investors an improved facility to access our shares in the U.S.,” said Colin Andrew, Sunward Resources Chief Executive Officer. “We believe that qualifying to trade on OTCQX is the first important step in increasing Sunward’s visibility in the U.S. market.”
OTCQX is the premium tier of the U.S. Over-the-Counter (OTC) marketplace. Its quality-controlled admission process identifies the segment of OTC-traded companies focused on valuation and transparency, distinguishing them from other companies trading on different tiers of the U.S. OTC market. OTCQX offers investors transparent trading, superior information, and access through their U.S. regulated broker-dealers. Several large international companies are quoted on the OTCQX including Adidas, Air France, Gazprom Neft, Repsol, Canadian Oil Sands, British Sky Broadcasting and Deutsche Telekom. For more information and to view a full list of OTCQX companies, visitwww.otcqx.com.
Investors can locate real-time level 2 quotes, disclosure and financial information about Sunward Resources atwww.OTCQX.com or www.OTCMarkets.com, in addition to the information available on the Company’s website atwww.SunwardResources.com.
SecuritiesLawUSA, PC will serve as Sunward Resources’ Principal American Liaison (PAL) on OTCQX, responsible for proving guidance on the OTCQX requirements.
Sunward Resources is a well-capitalized, Canadian-based company focused on the exploration and development of gold/copper porphyry projects in Colombia. The Company has strong operational expertise in Colombia and currently has eleven rigs drilling on its Titiribi Project southwest of Medellin. Titiribi hosts an NI 43-101-compliant Indicated Mineral Resource of 2.2 million ounces gold within 142.94 million tonnes grading 0.480 grams/tonne gold and 0.148% copper and an Inferred Mineral Resource of 6.08 million ounces gold within 372.7 million tonnes grading 0.507 grams/tonne gold and 0.078% copper, both assessed using a 0.3 grams/tonne gold cut-off. Based on the above, the Titiribi project also hosts 465.9 million pounds of copper in the Indicated Resource and 645.7 million pounds of copper in the Inferred Resource. The Titiribi project thus contains 3.50 million ounces of gold equivalent in the Indicated Resource category and a further 7.90 million ounces of gold equivalent in the Inferred Resource category, calculated on the basis of gold price of $1,114 per ounce and copper price of $3.07 per pound.
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to the future financial or operating performance of Sunward Resources Ltd. and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sunward Resources Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Sunward Resources Ltd. disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.