ROUYN-NORANDA, QUEBEC -- (Marketwired) -- 11/20/17 -- Explor Resources Inc. (TSX VENTURE: EXS)(OTCQB: EXSFF)(FRANKFURT: E1H1)(BERLIN: E1H1) ("Explor" or the "Corporation") announces today that OTC Markets Group Inc. ("OTC Markets") informed the Corporation on November 13, 2017 of certain promotional activities concerning Explor and its common stock traded on the OTCQB Marketplace.
Two weeks ago, Explor engaged the Steinberg-Valentine Group to redistribute press releases and information contained in press releases issued by the Corporation to their database. Explor paid $7,500. The Corporation does not have editorial control over the dissemination (other than to correct facts and ensure and facts reported track press release information). The Corporation is unaware of any false or misleading factual information provided. The Steinberg-Valentine Group was not incentivized on the basis of price or volume. Upon receipt of the OTCQB notice, the Corporation has terminated the arrangement. The Corporation has not engaged or authorized any person to provide market making services, investor relations services, public relations services or other related services from November 1, 2016. The services of the Steinberg-Valentine Group has not had any significant effect on the price or the volume of the shares of the Corporation on any market where the shares are traded. No other regulatory authority has contacted the Corporation to explain unusual trading activity since the engagement of the Steinberg-Valentine Group.
Other than as disclosed above, upon inquiry of its officers, directors and its controlling shareholders (i.e. shareholders owning 10% or more of the Corporation's securities), and to the Corporation's knowledge, none of its officers, directors or controlling shareholder have, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials of any kind with respect to the Corporation or its securities. Explor, its officers, directors and, to the Corporation's knowledge, its controlling shareholders (shareholders owning 10% or more of the Corporation's securities) do not own any part of the Steinberg-Valentine Group. Except as disclosed below, upon inquiry of its officers, directors and its controlling shareholders, none of the officers, directors and, to the Corporation's knowledge, its controlling shareholders have purchased or sold common shares of the Corporation on any stock exchange or electronic trading floor for the past 90 days. Chris Dupont has purchased shares from treasury as part of a non-brokered private placement and the purchase was recorded on www.sedi.ca the Canadian insider trading registry. Chris Dupont purchased 58,000 common shares on September 29, 2017. To the best knowledge of the Corporation, its directors, officers and its controlling shareholders (holding more than 10% of the shares) are in compliance with the insider trading requirement imposed by Canadian securities laws. The Corporation has not issued shares or convertible debentures or instruments allowing conversion to equity securities at prices constitutiing a discount to current market rate at the time of issuance. Certain officers and directors received stock options on August 21, 2017 under the Corporation stock option plan filed with the TSX Venture Exchange.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).
This press release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:
Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:
Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au) Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au) Inferred: 393,000 oz (5,185,000 tonnes at 2.36 g/t Au)
This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Explor Resources Inc.
Christian Dupont, President
888-997-4630 or 819-797-4630