VANCOUVER, British Columbia, Nov. 22, 2019 (GLOBE NEWSWIRE) -- Prime Mining Corp. (TSX.V: PRYM) (OTCQB: EPWMF) (Frankfurt:04V3) (“Prime” or the “Company”) has been requested by OTC Markets Group Inc. (“OTC Markets”) to comment on recent promotional activity concerning its common shares traded on the OTCQB.
On November 20, 2019, OTC Markets sent the Company copies of articles by Epic Stockpicks (Wolf of Penny Stocks) and Penny Stock Titans (Interactive Offers). All are third party marketing and awareness firms utilized by IR Revolution Marketing Corp., which was retained by the Company to coordinate marketing materials and shareholder communications programs. The Company only became aware of the articles on November 20, 2019, following notification by OTC Markets.
The Company does not believe the statements referencing it in the articles were false or misleading. The Company has been advised by OTC Markets that OTC Markets takes the position that aspects of the statements were overly promotional. The Company wishes to caution readers that these statements are speculative in nature. For more complete and specific information regarding the Company, its prospects and the risks associated with those prospects, readers should consult the Company’s website and other reliable sources.
The Company does not believe the promotional activities were a factor in the recent increase in trading volume in the Company’s common shares on the OTCQB since November 13, 2019. Instead, the Company attributes the increase to recent volatility in the market price of gold.
Each of Andrew Bowering, Bruce Kienlen, Gregory Liller and Daniel Kunz, through Daniel Kunz & Associates LLC, all of which are directors of the Company, acquired units of the Company in connection with a private placement offering completed on August 28, 2019. Aside from these acquisitions, after an inquiry of management, none of the Company’s officers, directors, controlling shareholders or third-party service providers have sold or purchased securities of the Company in the past ninety days.
In the last twelve months, the Company has engaged the following parties to provide investor relations, public relations services, marketing or other related services: Brisco Capital Partners Corp., IR Revolution Marketing Corp., Flathead Business Solutions LLC and Flinnwest Solutions Inc. In the last twelve months, the Company has not issued any convertible instruments or securities allowing conversion to equity securities at prices constituting a discount to the current market price at the time of issuance.
About Prime Mining Corp (TSX.V: PRYM)
Prime Mining is an ideal mix of successful mining executives, strong capital markets personnel and experienced local operators who have united to build a low cost, near-term gold producer at the historically productive Los Reyes project in Sinaloa, Mexico. The location boasts a mining history spanning hundreds of years of activity alongside a stable and established regional mining infrastructure. Decades of extensive fieldwork and technical study have positioned Los Reyes to advance to gold production quickly and cost effectively.
In addition to its readiness for near-term gold production, Los Reyes holds substantial resource upside based on open extensions of known resources, 10 kilometres of undrilled strike length and at least 8 additional exploration targets.
Prime Mining has a well-planned capital structure with significant team and insider ownership. For more information please visit www.primeminingcorp.ca and follow us on Twitter, Facebook or LinkedIn.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Bowering
Chief Executive Officer
Prime Mining Corp.
Suite 1507, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
For further information, please contact:
Scott Koyich
President and Chief Executive Officer
Brisco Capital Partners Corp.
Suite 400, 505 8th Avenue S.W.
Calgary, Alberta, T2P 1G2
Telephone: (403) 262-9888
Facsimile: (403) 263-1339
Email: skoyich@briscocapital.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management's current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. There is no assurance the transactions noted above will be completed on the terms as contemplated, or at all. The Company’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.