Avarone Commences Trading on Xetra Platform of Frankfurt Stock Exchange
Vancouver, B.C. / TheNewswire / APRIL 26, 2016 - Avarone Metals Inc. (CSE: AVM) (Frankfurt: W2U1; WKN: A14SVX) (the "Company" or "Avarone") is pleased to announce that its common shares have been accepted for trading on the electronic trading platform Xetra of the Frankfurt Stock Exchange under the ticker symbol W2U1 and WKN: A14SVX with ISIN CA05351M2040. The Frankfurt Stock Exchange ranks third in terms of volume, behind New York and NASDAQ, and more than 90 percent of all trading in shares at all German exchanges is transacted through Xetra.
BankM helped facilitate the Xetra listing and will also act as Avarone's designated sponsor on the electronic trading platform. Designated sponsors secure higher liquidity and better pricing by quoting binding bid/offer prices with a tight spread, and enabling trading on the Xetra trading venue.
"We are pleased to have Avarone accepted for trading on the Xetra electronic trading platform. Germany, Switzerland and Austria have a robust market for retail and institutional investors who follow the industrial mining and exploration industry, with keen interests in lithium. Our objective is to continue to broaden our shareholder base throughout Europe," said CEO Marc Levy.
About Lithium in Nevada
Lithium is a scarce and technologically important element produced primarily from brines and pegmatites. Although it is a non-renewable resource, it is used in conjunction with renewable energy technologies and hybrid automobiles, primarily in the form of Li-ion batteries, currently the most widely applied battery technology in many electronic devices. The consumption of lithium carbonate is on the rise and so far global production has kept pace with demand.
Located in the Range Province in southern Nevada, the Big Smoky Valley, which is approximately 3km wide and 14km long, is an internally drained, fault bounded and closed basin. Geological modeling suggests that lithium-rich brines have been transported and deposited in the both the Clayton and Big Smoky valleys since the Pleistocene era. The primary exploration model is to identify and map basins with ground gravity surveys and evaluate the chemistry of salts and sediments therein with RC or rotary-mud drilling. In the later stages of exploration, downhole geophysics and seismic reflection surveys are also utilized to define lithium-bearing aquifers.
The technical content of this news release has been prepared under the supervision of Peter Born, P. Geo., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
On behalf of the Board of Directors,
AVARONE METALS INC.
Marc Levy
CEO
For more information contact the Company at:
Telephone: (604) 669-9788
Facsimile: (604) 669-9768
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. We seek Safe Harbor.
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