Constantine Metal Resources Ltd (CVE:CEM) (OTCMKTS:CNSNF) rallied Monday as it began trading on the top tier of the OTC Markets.
The Vancouver-based mineral exploration company said in a statement that it expects the upgrade to the OTCQX Best Market from the OTCQB Venture Market will facilitate participation by US investors. OTC Markets Group Inc operates the two markets as well as the Pink Open Market for 10,000 US and global securities.
Shares of Constantine climbed US$0.01, or 2.1%, to US$0.36 on the OTC Markets. They were up C$0.02, or 4.2%, to C$0.50 in Canadian trading.
"Moving to the OTCQX Best Market from the OTCQB Venture Market represents another growth milestone for Constantine Metals," CEO Garfield MacVeigh said in a statement. "At this stage of the company's evolution, Constantine is following a marketing strategy that puts additional emphasis on bringing US investors into the stock.”
Last week, the company struck an option to acquire 100% of a property near the mining industry hub of Timmins, Ontario.
In addition to its flagship copper-zinc-silver-gold Palmer joint project in Alaska, the company controls a portfolio of 100%-owned gold projects in the Timmins camp.
Jason Paltrowitz, director of OTC Markets Group International Ltd. and executive vice president of corporate services at OTC Markets Group, added that "OTCQX provides innovative companies with a transparent, cost-effective public market to build visibility and engage its US shareholder base.”
Contact Dennis Fitzgerald at email@example.com