Last checked at 2 Sep 2020 10:36
Bluejay Mining plc / EPIC: JAY / Market: AIM /Sector: Mining
2nd September 2020
Bluejay Mining plc ('Bluejay' or the 'Company')
U.S. Listing of Bluejay Mining Shares on the OTCQB
Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce that it has filed an application with FINRA, the Financial Industry Regulatory Authority, for the Company's ordinary share capital to trade on the OTC Market's OTCQB trading platform in the United States of America.
Bluejay has appointed Galanopoulos & Company, a Vancouver based U.S. and Canadian corporate securities law firm, to assist with the legal aspects of the U.S. listing. Currently, the Company has identified a supporting broker and market maker and is completing the necessary regulatory documentation and application materials for submission to the OTC Market's compliance group.
The Company believes that listing on the OTCQB Market will potentially provide enhanced investor benefits, including easier access in the United States, and greater liquidity.
Bluejay CEO, Roderick McIllree said: "Following on from a material increase in interest shown in our portfolio of high-quality metal projects by prospective investors from the United States of America, subsequent to the recent comments made by President Donald Trump concerning the importance of Greenland and its vast mineral resources to Western industry, we have started a process of inter-listing the Company's shares in New York on the OTC Market's OTCQB trading platform. The close proximity of the Company's multiple unique and globally significant metal deposits to North America means that this is a natural development, and one which I see providing a strong support base to the Company's future activities. We will update shareholders as this process moves forward."
About OTCQB
The OTCQB is in the top tier of OTC markets and lists companies including blue-chip level companies that are not listed on traditional exchanges in the United States of America. Companies listed on the OTCQB and OTCQX markets have to follow certain rules and criteria and are subject to their home market regulation, in this instance the Alternative Investment Market of the London Stock Exchange plc in the U.K.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit http://www.bluejaymining.com or contact:
Roderick McIllree | Bluejay Mining plc | +44 (0) 20 7907 9326 |
Kevin Sheil | Bluejay Mining plc | +44 (0) 20 7907 9326 |
Ewan Leggat | SP Angel Corporate Finance LLP (Nominated Adviser) | +44 (0) 20 3470 0470 |
Soltan Tagiev | SP Angel Corporate Finance LLP (Nominated Adviser) | +44 (0) 20 3470 0470 |
Andrew Chubb | Hannam & Partners (Advisory) LLP | +44 (0) 20 7907 8500 |
Charlotte Page | St Brides Partners Ltd | +44 (0) 20 7236 1177 |
Cosima Akerman | St Brides Partners Ltd | +44 (0) 20 7236 1177 |
Notes
Bluejay is dual listed on the London AIM market and Frankfurt Stock Exchange with projects in Greenland and Finland. Its most advanced project is the Dundas Ilmenite Project in Greenland, which is being developed towards production in the near term. The Dundas Ilmenite Project has been proven to be the highest-grade mineral sand ilmenite project globally, with a JORC Compliant Resource of 117 million tonnes at 6.1% ilmenite and a maiden offshore Exploration Target of between 300Mt and 530Mt of ilmenite at an average expected grade range of 0.4 - 4.8% ilmenite in-situ.
The Company's strategy is focused on securing an offtake partner and commencing commercial production at Dundas in the near term in order to create a company capable of self-funding exploration on current projects and future acquisitions.
Bluejay holds three additional projects in Greenland - the 2,897sq km Disko-Nuussuaq ('Disko') Magmatic Massive Sulphide nickel-copper-cobalt-platinum group element-gold project ('Ni-Cu-Co-PGE-Au'), which has shown its potential to host mineralisation similar to the world's largest nickel-copper mining district at Noril'sk-Talnakh, northern Russia; the 692sq km Kangerluarsuk zinc-lead- silver project ('Kangerluarsuk'), where historical work has recovered grades of 41% zinc, 9.3% lead and 596 g/t silver and identified four large-scale drill ready targets; and the 2,025 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits.
The Company also has a 100% interest in a portfolio of copper, zinc and nickel projects in Finland. This multi-commodity portfolio has been restructured to be cost-sustainable whilst determining the best plan for future development.