Surge Exploration Inc. Announces DTC Eligibility, CNS Eligibility and Mergent Approval of its Common Shares
TSX VENTURE: SUR
Vancouver, BC / TheNewswire / September 20, 2018 - Surge Exploration Inc. ("the Company" or "Surge") (TSX-V: SUR, OTC: SURJF, FRA: DJ5C) is pleased to announce that it has secured DTC and CNS eligibility by The Depository Trust Company for its shares traded on the OTCQB under the symbol "SURJF" effective September 18, 2018.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation ("DTCC"), and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
Continuous Net Settlement (CNS) is a settlement process used by the National Securities Clearing Corporation (NSCC) for the clearing and settlement of securities transactions. CNS includes an automated book-entry accounting system that centralizes the settlement of transactions, keeping the flows of security and money balances orderly and efficient.
Being DTC and CNS eligible is expected to greatly simplify the process of trading and exchange the Company's common stock on the OTCQB marketplace in the United States.
"We are pleased to have obtained DTC and CNS eligibility," said Tim Fernback, President & CEO of Surge. "DTC & CNS eligibility simplifies the process of trading and transferring Surge's shares between brokerages in the United States and reduces the costs incurred in trading shares. With our shares now DTC and CNS eligible, we expect this to lead to greater liquidity and execution speeds, as well as our shares being accessible to an even broader range of investors."
The Company has previously announced that it has been approved and its common shares have been upgraded to the OTCQB(R) Venture Market under the trading symbol "SURJF."
The OTCQB Venture Market, operated by OTC Markets Group Inc., offers transparent trading in entrepreneurial and development stage companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for FTE Networks at http://www.otcmarkets.com/stock/SURJF/quote.
Further to this news, Surge is also pleased to report that the Company has been approved by Mergent's Editorial Board and is "Blue-Skyed" with a new listing in Mergent Manuals and News Reports(TM). Surge's corporate profile, which includes descriptive text, data, news and financial statements, will be accessible through Mergent's online and print products.
As part of Mergent's listing services, the new description will be highlighted separately on www.mergent.com with an active hyperlink back to Surge's website.
The Mergent Industrial Manual and News Reports(TM) is a recognized securities manual in 39 states for purposes of Blue Sky Manual Exemption. First published in 1918, and formerly known as Moody's(TM) Manuals and News Reports, the publication was rebranded as Mergent Manuals and News Reports when Mergent, Inc. acquired Moody's(TM) Financial Information Services division in 1998.
Surge's listing will aid in opening the company up to a much broader investment base. However, it is recommended that brokers confirm with their compliance/legal department concerning "Blue Sky" laws in specific states and other regulatory laws that might affect them.
About Mergent, Inc.
For over 100 years, Mergent, Inc. has been a leading provider of business and financial data on global publicly listed companies. Based in the U.S, Mergent maintains a strong global presence, with offices in New York, Charlotte, San Diego, London, Tokyo, Kuching and Melbourne. Mergent operates one the longest continuously databases of descriptive and fundamental information as well as pricing and corporate action data on domestic and international companies, together with terms and conditions data on corporate and municipal bonds. Mergent subsidiaries provide services in independent equity research and administration tools for portfolio building and measurement.
About Surge Exploration Inc. https://surgeexploration.com/
The Company is a Canadian-based mineral exploration company which has been active in the resource sector in British Columbia and elsewhere in Canada. The Company has an exploration office in Santiago, Chile to review mineral exploration opportunities in Chile and elsewhere in South America.
Cobalt Ontario Properties
The Company has an option to earn an undivided 60% interest in the Glencore Bucke Property and the Teledyne Property, located in Cobalt Ontario.
Atacama Cobalto Project:
The Atacama Cobalto Project is located in the Atacama Province in northern Chile, 15 km northwest of the town of Copiapo, where mining is the largest economic activity, and the mining industry is one of the region's major employers. The Atacama Cobalto Project consists of 1,059 hectares and is located only 3 km East of the Cerro Iman Mine. To date, CAP Mineria has drilled over 20,250 m on the Atacama Coblato Project. The option on this project is subject to TSXV approval.
Hedge Hog Property, British Columbia
The Company has an option to earn an undivided 60% interest seven mineral tenure covering 2,418 hectares (5,972 acres) located approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the historic gold mining towns of Wells and Barkerville.
On Behalf of the Board of Directors
President & CEO
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.
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.