VANCOUVER,
Nov. 11, 2011 /PRNewswire/ -
Northern Iron Corp ("Northern") (TSX-V: NFE)
(OTCQX: NHRIF) (Frankfurt: N8I) today announced that Northern's
shares will commence trading on the OTCQX International Marketplace
("OTCQX") at market open today, November 11, 2011 under the symbol
"NHRIF". "
The OTCQX gives Northern access to a large premium
market in the United States with
strong standards where many internationally respected companies
trade," stated Basil Botha, President and CEO of Northern. "The
OTCQX has a reputation of providing U.S. investors with improved
liquidity, transparency and superior information through its U.S.
regulated broker-dealers, and will provide U.S. investors with a
mechanism to invest in a Canadian iron ore project that is
projected to provide North American steel mills with a new source
of value added raw material."
Northern has retained Merriman Capital Inc. ("Merriman") to
serve as Principal American Liaison ("PAL") on the OTCQX,
responsible for providing guidance on OTCQX requirements. Merriman
Capital Inc. is a wholly owned subsidiary of Merriman Holdings,
Inc. (NASDAQ: MERR) and is a member of FINRA (www.finra.org) and
SIPC (www.sipc.org).
Spencer Grimes, Managing Director
at Merriman, commented: "We are pleased to have assisted Northern
with the launching of its trading on the OTCQX and look forward to
extending our relationship with the Company as its PAL."
Investors will be able to find current financial disclosure,
real-time Level 2 quotes for Northern's shares, and further
information on the OTCQX by visiting the following websites:
www.otcqx.com and www.otcmarkets.com.
The Company's information will be made available via S&P
Capital IQ's Market Access Program, an information distribution
service that enables subscribing publicly traded companies to have
their company information disseminated to users of S&P Capital
IQ's MarketScope Advisor. The company information to be made
available through this program includes share price, volume,
dividends, shares outstanding, company financial position, and
earnings at:
http://reports.standardandpoors.com/aidata/maccess/n/nfe_439971_all.htm
MarketScope Advisor is an Internet-based research engine used by
more than 100,000 investment advisors. A public version of the site
is available at http://advisor.marketscope.com
In addition, information about companies in S&P Capital IQ's
Market Access Program will be available via the firm's Stock Guide
database, which is distributed electronically to virtually all
major quote vendors. As part of the program, a full description of
Northern Iron Corp. will also be published in the Daily News
section of Standard Corporation Records, a recognized securities
manual for secondary trading in up to 38 states under their Blue
Sky Laws.
Northern's shares will remain listed and continue to trade on
the TSX-V in Canada under the
symbol "NFE".
About Northern Iron
Northern Iron is a mineral resource company engaged in reviving
a past producing iron mine and concurrent exploration of high
quality iron ore resources in the Red
Lake mining division, district of Kenora, Ontario, Canada.
Northern Iron holds 100% interest in minerals claims covering
approximately 14,672 hectares, comprised of the El Sol Property,
the past producing Griffith Property, the Karas Property, the
Papaonga Property and the Whitemud-Slate Property.
The Griffith Mine owned at the time by Stelco, produced
78.8million tonnes of iron ore for conversion to pellets and DRI
from 1968-1989. Total magnetic iron recovery was 86.26%
The Red Lake area is
accessible year round by Highway 105, which joins the Trans Canada
highway at Vermillion Bay, 175 km south and 100 km east of
Kenora. Commercial air services
operate to Red Lake from
Thunder Bay, Ontario and
Winnipeg, Manitoba
Cautionary Statement
The foregoing information may contain forward-looking statements
relating to the future performance of the Company. Forward-looking
statements, specifically those concerning future performance, are
subject to certain risks and uncertainties, and actual results may
differ materially from the Company's plans and expectations. These
plans, expectations, risks and uncertainties are detailed herein
and from time to time in the filings made by the Company with the
TSX Venture Exchange and securities regulators. The Company
does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities
commission or other regulatory authority has approved of
disapproved the information contained herein.
SOURCE Northern Iron Corp.