Canuc Resources - shares now Depository Trust Company (DTC) eligible
Our client Canuc Resources Corporation (TSX-V: CDA, OTCQB: CNUCF, WKN: A41V6H) has announced that its common shares are now Depository Trust Company (DTC) eligible in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC) and manages the electronic clearing and settlement of publicly traded securities in the United States. Securities that are DTC eligible may be traded through participating brokerage firms using electronic book-entry transfers, eliminating the need for physical share certificates. Electronic settlement reduces costs and accelerates the settlement process for investors and broker-dealers, making the shares more accessible to the U.S. investment community.
Importantly, this is not a fundraising or a new listing. It doesn't raise any capital or issue new shares. Rather, it makes Canuc's existing OTCQB-quoted shares (which trade under the ticker CNUCF) easier and cheaper for US investors and brokers to hold and trade.
Canuc believes that obtaining DTC eligibility represents another important milestone in expanding its capital markets presence and increasing liquidity for shareholders. Combined with its OTCQB Venture Market listing, DTC eligibility is expected to enhance visibility among U.S. institutional and retail investors while facilitating trading in Canuc shares.
On operational matters, Christopher Berlet, CEO and Director, said: "We are now rapidly advancing exploration for gold, copper and critical minerals at the company's East Sudbury Project, and believe that making shares more accessible to U.S. investors will broaden our shareholder base and improve trading liquidity."
The firm recently announced that it had completed a seismic survey along the northern section of the McLaren Lake Fault Zone at its East Sudbury Project, done to identify potential exploration targets. The East Sudbury Project is Canuc’s flagship asset and spans 20,078 hectares, located within the Greater Sudbury Region of Ontario - one of the world’s premier and most storied mining districts. The asset is centred approximately 20 kilometres northeast of the prolific Sudbury Mining Camp and near to the extensive infrastructure of the adjacent Sudbury Mining District.
Canuc also holds a 100% interest in the San Javier Silver-Gold Project located in Sonora State, Mexico. The San Javier Silver-Gold Project spans 28 claims covering 1,052 hectares and evidences extensive silver, gold and copper mineralisation interpreted to be related to a mineral system that can form silver dominant IOCG and affiliated deposits.
Elsewhere, Canuc generates cash flow from natural gas production at its MidTex Energy Project located in Central West Texas, USA where it has an interest in eight producing natural gas wells and has rights for further in-field developments. The company also receives a 4% Net Smelter Royalty from gold production at the Scadding Gold Tailings Project.
For more information about Canuc Resources visit the company’s dedicated Optimo Research page HERE
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Disclosures
Canuc Resources is a corporate client of Optimo Research Ltd and Optimo Capital Limited.
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