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Canadian North Resources Announces the Engagement of Market Making Services

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Canadian North Resources Announces the Engagement of Market Making Services

 

 

 

 

 

Canadian North Resources Inc. (TSX-V: CNRI) (OTCQX: CNRSF) (FSE: EO0)  is pleased to announce the engagement of Independent Trading Group, Inc. to provide certain market-making services to the Company pursuant to an agreement, dated December 1, 2023.

 

ITG will trade the securities of the Company on the TSX Venture Exchange to maintain an orderly market and improve the liquidity of the Company’s common shares. In consideration of the services provided by ITG, the Company will pay ITG a monthly cash fee of $5,000 for an initial term of one month, which will automatically extend for successive one-month terms unless terminated by either party on 30 days’ prior written notice. The services to be provided by ITG commenced on December 1, 2023.

 

Neither ITG nor its affiliates or associates has any interest directly or indirectly in the Company or its securities or any right or intent to acquire such an interest. ITG will not receive shares or other securities as compensation. ITG is at arm’s length to Canadian North Resources and has no other relationship with the Company except pursuant to the Agreement. ITG will provide the capital used for market making.

 

ITG is an independent, privately held broker-dealer based in Toronto, Ontario, that provides a wide range of financial and investment services and is registered with the CSE, NEO, Toronto Stock Exchange and TSX-V along with the Investment Industry Regulatory Organization of Canada (IIROC).

 

About Canadian North Resources

 

Canadian North Resources Inc. is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project that covers an area of 253.8 km2 of mining leases (96.9 km2) and surrounding exploration claims (156.9 km2) in the Kivalliq Region of Nunavut, Canada.

 

The Ferguson Lake mining property contains substantial resources in compliance with NI43-101 standards, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. (Refer to “Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, Prepared by Ronacher McKenzie Geoscience Inc. and Francis Minerals Ltd” filed by the Company to Sedar.com on July 13, 2022). In addition, the Company has identified the pegmatites with lithium potential at the Ferguson Lake project.

 

Posted December 6, 2023

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