Magna Mining Engages Independent Trading Group as Market-Maker
Magna Mining Engages Independent Trading
Group as Market-Maker
Sudbury, Ontario--(Newsfile Corp. - January 25, 2022) - Magna Mining Inc. (TSXV: NICU) ("
Magna
" or
the "
Company
")
is pleased to announce that it has entered into a market-making agreement (the
"
Agreement
") with Independent Trading Group ("
ITG
"), pursuant to which ITG has agreed to provide
market-making services to the Company in accordance with the policies of the TSX Venture Exchange
(the "
Exchange
") and applicable laws.
ITG will trade shares of the Company on the TSXV and other available trading venues with the objective
of maintaining a reasonable market and improving the liquidity of the Company's common shares.
The Agreement is effective January 25
th
, 2022, and has an initial term of three months, which will
automatically extend for successive one-month terms unless terminated by either party on 30 days' prior
notice. In consideration of the services provided by ITG pursuant to the Agreement, ITG will receive
compensation of $5,000 per month, payable monthly in advance, and will be paid by the Company from
its working capital resources. There are no performance factors contained in the Agreement and ITG will
not receive shares, options or other securities as compensation. The capital used for market-making will
be provided by ITG, and no third party will be providing funds or securities for the market-making
activities.
ITG is an independent, privately held broker-dealer based in Toronto, Ontario, that provides a wide
range of financial and investment services. ITG is a member of the Investment Industry Regulatory
Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF) and can access all
Canadian stock exchanges and alternative trading systems. ITG and the Company are unrelated and
unaffiliated entities and, at the time of the Agreement, neither ITG nor its principals have any interest,
directly or indirectly, in the securities of the Company or any right or intent to acquire such an interest.
The Agreement is subject to the Company's filing requirements with the TSXV and TSXV approval.
About Magna Mining Inc.
Magna is an exploration and development company focused on sulphide nickel, copper and PGM
projects in the Sudbury region of Ontario, Canada. The Company's flagship asset is the past producing
Shakespeare Mine, which has major permits for the construction of a 4,500 tonne per day open pit mine,
processing plant and tailings storage facility and is surrounded by a contiguous 180km
2
prospective
land package.
For further information, please refer to the Company's SEDAR filings at
www.sedar.com
or visit the
Company's website at
www.magnamining.com
or contact:
Jason Jessup, Chief Executive Officer
or
Paul Fowler, CFA, Senior Vice President
Telephone: 416 356 8165
Email:
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information"
under applicable Canadian securities legislation. Forward looking information includes, but is not
limited to, the timing and ability of the Company to receive necessary regulatory approvals, and the
plans, operations and prospects of the Company and its properties. Forward-looking information is
necessarily based upon a number of assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties, and other factors which may cause the actual results and
future events to differ materially from those expressed or implied by such forward-looking information.
Factors that could affect the outcome include, among others: future prices and the supply of metals,
the future demand for metals, the results of drilling, inability to raise the money necessary to incur the
expenditures required to retain and advance the Company's properties, environmental liabilities
(known and unknown), general business, economic, competitive, political and social uncertainties,
results of exploration programs, risks of the mining industry, delays in obtaining governmental
approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that
such information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward looking information contained in this press release is given as
of the date hereof and is based upon the opinions and estimates of management and information
available to management as at the date hereof. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of new information, future events
or otherwise, except as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/111479