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.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2012) - Foran Mining Corporation (News - Market indicators) ("Foran" or the "Company") is pleased to announce that it has retained Questrade, Inc. ("Questrade") to provide market-making services in accordance with TSX Venture Exchange ("TSX.V") policies. Questrade will trade shares of the Company on the TSX.V for the purposes of maintaining an orderly market and improving the liquidity of the Company's shares.
Under the terms of a one-year agreement (the "Agreement"), with an effective date of November 12, 2012, Questrade will receive compensation of $5,500 per month. Questrade will not receive shares or options as compensation. However, Questrade and its clients may have or may acquire a direct interest in the securities of the Company. Foran and Questrade are unrelated and unaffiliated entities; Questrade is a member of the Investment Industry Regulatory Organization of Canada ("IIROC") and is a member of all Canadian Stock Exchanges and Alternative Trading Systems.
The Agreement is subject to approval by the TSX.V.
About Foran Mining
Foran is a diversified exploration and development company with projects in the Flin Flon Mining Belt. The Company's flagship McIlvenna Bay property is located in east central Saskatchewan, 65 kilometres west of Flin Flon, Manitoba and contains the McIlvenna Bay deposit ("McIlvenna Bay"), one of the largest undeveloped volcanogenic massive sulphide deposits in Canada.
For additional information on McIlvenna Bay, see the report entitled "Technical Report on the McIlvenna Bay Project, Saskatchewan, Canada" dated December 9, 2011 at www.sedar.com or www.foranmining.com. Foran trades on the TSX.V under the symbol "FOM".
Questrade provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets through its IQ trading platforms. Questrade offers market making services on behalf of TSX and TSX.V listed companies, providing liquidity on the stock exchange for shareholders. The registered Questrade representative (PIF filer) is Alex Indursky.
Forward Looking Statements
This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities law.