NEW YORK, Aug. 4, 2020 /PRNewswire/ -- OTC Markets Group
Inc. (OTCQX: OTCM), operator of financial markets for 10,000
U.S. and global securities, announced Loncor Resources Inc. (TSX:
LN; OTCQX: LONCF), a Canadian gold exploration company, has
qualified to trade on the OTCQX® Best Market. Loncor Resources Inc.
upgraded to OTCQX from the OTCQB® Venture Market.
Loncor Resources Inc. began trading on OTCQX under the symbol
"LONCF" on August 3, 2020. U.S.
investors can find current financial disclosure and Real-Time Level
2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused
U.S. and international companies. To qualify for OTCQX, companies
must meet high financial standards, follow best practice corporate
governance, and demonstrate compliance with applicable securities
laws. Graduating to the OTCQX Market from the OTCQB Market marks an
important milestone for companies, enabling them to demonstrate
their qualifications and build visibility among U.S. investors.
About Loncor Resources Inc.
Loncor is a Canadian gold
exploration company focussed on the Ngayu greenstone belt in the
Democratic Republic of the Congo
("DRC"). The Loncor team has over two decades of experience of
operating in the DRC. The Ngayu project area is 220 km southwest of
the Kibali gold mine, which is operated by Barrick. As per the
joint venture agreement, Barrick manages and funds exploration at
the Ngayu project until the completion of a pre-feasibility study
on a gold discovery. Subject to the DRC's free carried interest
requirements, Barrick would earn 65% of any discovery with Loncor
holding the balance of 35%. Loncor would then be required to fund
its pro-rata share or be diluted. In addition to the Barrick JV,
certain areas within the Ngayu project, including the Makapela and
Adumbi deposits, have been retained by Loncor and do not form part
of the joint venture with Barrick. Barrick has certain pre-emptive
rights over the Makapela deposit. Loncor's 100%-owned Makapela
deposit has an indicated mineral resource of 614,200 ounces of gold
(2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral
resource of 549,600 ounces of gold (3.22 million tonnes grading
5.30 g/t Au). Adumbi and two neighbouring deposits hold an inferred
mineral resource of 2.5 million ounces of gold (30.65 million
tonnes grading 2.54 g/t Au), with 76.29% of this resource being
attributable to Loncor. Additional information with respect to
Loncor can be found in Loncor's Form 20-F dated April 6, 2020.
About OTC Markets Group Inc.
OTC Markets Group
Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB®
Venture Market and the Pink® Open Market for 10,000 U.S. and global
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SOURCE OTC Markets Group Inc.