DENVER & SIERRA BLANCA, Texas--(BUSINESS WIRE)--Texas Rare Earth Resources Corp. (the “Company”) (OTCQX: TRER), a heavy rare earths exploration and development company, today announced that its common stock will transition from the OTCQB platform and will begin trading on the quality-controlled OTCQX® U.S. Premier trading platform effective Monday, February 13, 2012.
The OTCQX U.S. Premier tier distinguishes the highest quality-controlled companies traded over-the-counter (OTC) from more than 9,000 securities traded on the OTCBB and OTC Link platform that are not required to meet any financial standards or undergo a qualitative review, attesting to the quality standards adhered to by Texas Rare Earth Resources. OTCQX also offers a level of marketplace services formerly available only on a U.S. exchange. This investor-friendly platform provides superior trading information and easy access through all major online and full-service U.S. brokerage firms. Trades are settled and cleared in the U.S. similar to any NASDAQ or NYSE stock, and trade reports are disseminated through most financial data providers.
Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com. Dorsey & Whitney LLP will serve as Texas Rare Earth's Designated Advisor for Disclosure ("DAD") on the OTCQX.
"We are pleased to have Texas Rare Earth Resources upgrade to trading on OTCQX," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "OTCQX companies demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards. Investors prefer the quality-controlled admission process on OTCQX, which identifies the segment of OTC companies focused on valuation and transparency."
Marc LeVier, Chief Executive Officer of Texas Rare Earth Resources, commented, "The upgrade of our primary trading venue to the OTCQX U.S. Premier trading platform is a testament to investors that Texas Rare Earth Resources meets the highest qualitative standards among OTC traded companies.” Mr. LeVier added, “We have made considerable progress in creating a viable exploration and development company focused on advancing the exploration and resource definition efforts at our unique, heavy rare earth Round Top Project. In 2011, we significantly strengthened the Company’s management and governance, including the appointment of three new directors, my appointment as CEO, and the addition of Anthony Garcia as Senior Vice President of Project Development and Engineering. We believe that our transition to the OTCQX U.S. Premier is the next step toward further increasing investor awareness through the platform's increased trading transparency and more prominent access through U.S. broker-dealers."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest OTC marketplace for equity securities. Our OTC Link trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services. We organize the marketplace by categorizing the wide spectrum of OTC-traded companies into three tiers: OTCQX - The Intelligent Marketplace for the Best OTC Companies; OTCQB - The Venture Marketplace; and OTC Pink - The Open Marketplace. Our information-driven platform makes it easy for investors to trade at the best price through the broker of their choice and empowers companies to build the best markets for their investors. To learn more about our Open, Transparent, and Connected marketplace, visit www.otcmarkets.com.
About Texas Rare Earth Resources Corp.
Texas Rare Earth Resources Corp.'s primary focus is exploring and developing its Round Top rare earth minerals project. The Round Top project is located in Hudspeth County, Texas, 85 miles east of El Paso, Texas. Independently published data indicates the property may contain over 1.0 billion metric tons of Rhyolite host rock containing rare earth minerals with potentially a 70% ratio of heavy to total rare earth minerals. The Company’s common stock now trades on the OTCQX U.S. Premier tier under the symbol “TRER.”
For more information on Texas Rare Earth Resources Corp., visit its website at http://www.texasrareearth.com.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. This press release uses the term “resource.” We advise U.S. investors that while this term is defined in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Standards”), such term is not recognized by the SEC and is normally not permitted to be used in reports and registration statements filed with the SEC. U.S. Investors are cautioned not to assume that any defined resource would ever be converted into SEC compliant reserves. Our Round Top rare earth-beryllium-uranium project currently does not contain any known proven or probable ore reserves under SEC reporting standards and our reference above to the metric tons of rhyolite contained at the project is a reference only to estimated in-place tonnage. U.S. investors are urged to consider closely the disclosure in our latest reports and registration statements filed with the SEC. You can review and obtain copies of these filings at http://www.sec.gov/edgar.shtml.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Texas Rare Earth Resources expects or anticipates will or may occur in the future, including such things as the potential development of the Round Top rare earth project, estimates of mineralized material, the potential ratio of heavy to total rare earth minerals present at the Round Top project, the number of metric tons of rhyolite contained at the Round Top project, possible listing on a national securities exchange, and other such similar matters are forward-looking statements. When used in this press release, the words “potential”, “indicate”, “expect”, “intend”, “hopes,” “believe,” “may,” “will,” “if, “anticipate” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Texas Rare Earth Resources to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of mineralized material estimates, risks relating to completing drilling and metallurgical testing at the Round Top project, risks related to project development determinations, risks related to fluctuations in the price of rare earth minerals, the inherently hazardous nature of mining-related activities, potential effects on Texas Rare Earth Resource’s operations of environmental regulations, risks due to legal proceedings, risks related to uncertainty of being able to raise capital on favorable terms or at all, as well as those factors discussed under the heading “Risk Factors” in Texas Rare Earth Resource’s latest annual report on Form 10-K as filed on November 22, 2011 and other documents filed with the U.S. Securities and Exchange Commission. Although Texas Rare Earth Resources has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Texas Rare Earth Resources assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.