Toronto, Ontario – July 14, 2020 – Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce that it has received final approval for the listing of its common shares on the Toronto Stock Exchange (“TSX”). Effective at market open on July 15, 2020, Gen Mining will commence trading on the TSX under the ticker symbol “GENM”. In connection with the TSX listing, the common shares of the Company were delisted from the Canadian Securities Exchange effective as of the close of business on July 14, 2020.
Gen Mining believes that the TSX listing is a significant next step in the Company’s progression, and which should facilitate access to a broader range of investors as well as provide exposure to larger pools of capital, including long-term institutional investors and large investors abroad such as in the USA and Europe.
The Company’s common shares continued to be listed in the USA on the OTCQB® Venture Marketplace under the symbol “GENMF”.
About the Company
Gen Mining’s focus is the development of the Marathon Deposit, the largest undeveloped platinum group metal Mineral Resource in North America. The Marathon Property covers a land package of approximately 22,000 hectares, or 220 square kilometres. Gen Mining acquired a 51% interest in the Marathon Property from Sibanye Stillwater on July 10, 2019 and can increase its interest to 80% by spending $10 million over a period of four years. As at the end of Q1 2020, approximately $4 million of the $10 million has been spent. Sibanye Stillwater has certain back-in rights that allow it to increase its interest in the Marathon Property back up to 51% in certain circumstances and subject to certain conditions after such time as Gen Mining has earned its 80% interest (see the Company’s press release of July 11, 2019 for more details).
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President and Chief Executive Officer
This news release includes certain information that may be deemed “forward-looking information” under applicable securities laws. All statements in this release, other than statements of historical facts, that address listing of the Company’s common shares on the TSX, fulfillment by the Company of the TSX listing conditions, delisting of the Company’s common shares from the Canadian Securities Exchange, the ability of the Company and Sibanye Stillwater to vary their respective participating interests in the Marathon Property, Mineral Resource and Reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, among other factors, the results of the Company’s due diligence investigations, market prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.