Upside Gold Corp. announced that its common shares have begun trading on the OTCQB Venture Market in the United States under the symbol UGODF. The company's shares will continue to trade on the Canadian Securities Exchange under the symbol UG and on the Frankfurt Stock Exchange under the symbol 47I. This development represents a strategic move to enhance the company's visibility and accessibility within U.S. capital markets.
Chief Executive Officer Sophy Cesar stated that the OTCQB listing broadens Upside's exposure to U.S. investors and represents an important step in building a more diversified shareholder base. Improved trading accessibility and liquidity are key as the company continues to advance its Kena Gold-Copper Project and communicate the scale of the opportunity. Access to U.S. capital markets is increasingly important for growth-stage exploration companies and allows Upside to engage a broader audience as it executes on its growth strategy.
The OTCQB Venture Market is designed for early stage and developing U.S. and international companies. Investors can find real-time quotes and market information for the company on www.otcmarkets.com. This platform provides a regulated trading environment that can facilitate greater investor participation and potentially enhance liquidity for the company's shares.
Upside Gold Corp. is a Canadian gold-copper exploration company that has entered into an option agreement to acquire a 100% interest in the Kena Gold-Copper Project, located in southeastern British Columbia, approximately 7 kilometres southwest of Nelson. The Kena Project consists of 198 mineral claims covering 10,114.8 hectares, together with 11 crown grants covering approximately 92 hectares. The corporation is focused on advancing the Kena Gold-Copper Project through systematic exploration and drilling programs.
The Kena Project hosts a historical gold resource comprising an Indicated Mineral Resource of 32,146,000 tonnes at an average grade of 0.544 g/t Au for 0.561 million ounces of gold, and an Inferred Mineral Resource of 177,507,000 tonnes at an average grade of 0.486 g/t Au for 2.77 million ounces of gold. The historical resource estimate is disclosed in the technical report entitled "NI 43-101 Resource Estimate for the Kena and Daylight Properties" prepared by Sue Bird, P.Eng. of Moose Mountain Technical Services, dated May 3, 2021, and filed on SEDAR on behalf of West Mining Corp.
A Qualified Person, as defined by National Instrument 43-101, has not done sufficient work to classify the historical estimate as current mineral resources, and Upside Gold Corp. is not treating the historical estimate as current mineral resources. The historical estimate is provided for information purposes only and should not be relied upon. The company's forward-looking statements involve substantial known and unknown risks and uncertainties, including factors that could cause actual results to differ materially from expectations, such as regulatory approval processes, failure to identify mineral resources, delays in obtaining required approvals, political risks, financing uncertainties, changes in equity markets, inflation, exchange rate fluctuations, commodity price volatility, and development delays.
The commencement of trading on the OTCQB Venture Market represents a significant milestone for Upside Gold Corp. as it seeks to expand its investor base and secure capital for exploration activities. This move could potentially increase trading volume and provide U.S. investors with easier access to the company's shares, which may support future financing efforts for the development of the Kena Gold-Copper Project. For the mining industry, this listing demonstrates the ongoing importance of U.S. capital markets for Canadian exploration companies seeking growth capital and broader market recognition.
