TORONTO, ONTARIO--(Marketwired - Apr 26, 2013) - Virgin Metals Inc. (TSX VENTURE:VGM) today announced that further to its existing contract with CHF Investor Relations first announced on February 23, 2012, the Company has engaged CHF for market-making services under its Market Liquidity Program which CHF has provided to clients for more than 10 years.
The market-making activity will be conducted using a registered broker in compliance with Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual (the "Manual"), IIROC's Universal Market Integrity Rules & Policies (2010) and other relevant policies, so that trading orders in Virgin Metal's shares are made to manage share price volatility and imbalances of orders in order to improve trading liquidity on the exchange. In accordance with Policy 3.4, section 2.8 of the Manual that states in part "an Issuer may not use its own funds, or provide direct or indirect compensation to other parties to undertake a market-making function in its securities," the Company and CHF confirm that capital for the purposes of market-making has not and will not be provided from the Company's treasury.
The addition of market-making services and corresponding increase in monthly fees up to C$7,500 are subject to TSX Venture Exchange approval.
About Virgin Metals
Virgin Metals is a junior exploration and development company; its projects include two copper-molybdenum porphyry properties in Sonora, northern Mexico. One of these, Los Verdes, is currently the subject of a pre-feasibility study while the other, Cuatro Hermanos, is the focus of ongoing exploration efforts.