Soho Resources Corp. Shares Commence Trading on the U.S. OTCQX
18 Mai 2011 - 4:25PM
Marketwired
Soho Resources Corp. (TSX VENTURE: SOH)(OTCQX: SOHFF)(FRANKFURT:
SQ8) ("Soho" or the "Company") is pleased to announce that the
Company's shares commenced trading today on the U.S.
Over-the-Counter (OTC) market's highest tier, OTCQX®. Investors can
find current financial disclosure and Real-Time Level 2 quotes for
the Company on www.OTCQX.com and www.OTCMarkets.com.
The OTCQX is the most prestigious of the three OTC tiers and is
recognized as a quality-controlled marketplace for
investor-friendly companies. The OTC market is the world's largest
electronic marketplace for broker-dealers to trade over 10,000
unlisted securities. In 2010, securities on the OTC platform traded
over $144 billion in dollar volume, making it the third largest
U.S. equity trading venue after NASDAQ and the New York Stock
Exchange.
Soho has engaged the services of Merriman Capital, Inc., a
wholly-owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR),
a financial services firm based in San Francisco focused on
fast-growing companies and their institutional investors, to serve
as the Company's Principal American Liaison ("PAL") on OTCQX,
responsible for providing guidance on OTCQX requirements. Merriman
Capital, Inc. is a member of FINRA and SIPC.
"We are very pleased to join the impressive and rapidly growing
list of international companies whose shares trade on the OTCQX. In
keeping with our commitment to increasing recognition for Soho
outside of Canada, OTCQX offers U.S. investors greater trading
liquidity with an improved trading platform that is both efficient
and transparent," commented Soho President Ralph Shearing.
About Soho Resources Corp.
Soho Resources Corp. is an exploration and development company
strategically focused on gold, silver and base metals in the
prolific Sierra Madre Belt of Mexico.
The Company has been conducting an exploration and drilling
program to expand and upgrade its resources at its flagship
Tahuehueto Project in Durango State and on October 4, 2010
announced the results of a Preliminary Economic Assessment ("PEA")
completed by Snowden Mining Industry Consultants Inc. Key findings
from the report included:
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Summary of PEA Estimates
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Net cash flow $US 184.2 million
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Net present value (NPV) 5% discount $US 109.6 million
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Internal rate of return % 31%
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Payback period (months) 27
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Mine life (years) 11
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Maximum processing rate (tonnes/annum) 1,000,000
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Capital and start-up costs $US 89.1 million
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Note: Calculations based on a 3 year rolling average of metal prices at
the end of August 2010
Currency - US$ Gold: 965.81, Silver: 15.38, Copper: 2.92, Lead: 0.95,
Zinc: 0.88
The Tahuehueto Project is a classic epithermal system hosting
multiple structures traced for up to six kilometers of strike
length. Considerable upside exploration potential remains on the
existing explored resource structures both down dip and along
strike, as well as on numerous other unexplored mineralized
structures.
Qualified Persons
This press release was prepared under the supervision and review
of Ralph Shearing, President and CEO of Soho Resources Corp., a
Licensed Geologist, and Qualified Person as defined by NI
43-101.
Definitions used in this release are consistent with those
adopted by the Canadian Institute of Mining, Metallurgy and
Petroleum ("CIM") Council in December 2005, as amended, and
prescribed by the Canadian Securities Administrator's National
Instrument 43-101 and Form 43-101F1, Standards of Disclosure for
Mineral Projects. Mineral resources are not mineral reserves and do
not have demonstrated economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS
Ralph Shearing, Chief Executive Officer
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of up-coming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Soho Resources Corp.
relies upon litigation protection for forward-looking
statements.
Shares Issued - 185,533,676
Last Close $0.10 - May 17, 2011
"Neither the 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."
Contacts: Soho Resources Corp. Glen Sandwell IR Manager (604)
684-8071 or Toll Free: 1-800-685-0576 ir@sohoresources.ca
www.sohoresources.ca
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