Discovery Gold Corporation secures DTC eligibility status
Wednesday, Nov 14, 2012
DENVER, Nov. 13, 2012 /PRNewswire/ -- Discovery Gold Corporation (OTCQB: DCGD) ("Discovery Gold" or the "Company") is pleased to announce that, effective immediately, the Company's common shares have been granted eligibility status by the Depository Trust Company (DTC). Trading in securities that are "DTC-eligible" can be electronically cleared and settled through the facilities of DTC. This fully electronic and cost-effective method of clearing securities transactions accelerates the trade settlement process for all investors and the broker/dealers that process trades in DTC-eligible securities.
Discovery Gold's Chief Financial Officer, David Cutler, said, "Electronic trading and settlement is the standard in today's financial markets and our becoming DTC-eligible will greatly simplify the process for all investors trading in Discovery Gold shares. Securities that are not DTC-eligible are often not accepted for trading at many institutions due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to easily access our shares. We expect that our DTC-eligible status will improve our overall share liquidity and share attractiveness."
The Depository Trust Company (DTC), established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by creating a centralized securities depository and making "book-entry" changes to ownership of the securities. The DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), the world's largest post-trade financial services company.
About Discovery Gold Corporation
Discovery Gold Corporation is an emerging U.S. based mineral exploration company. The Company's wholly-owned subsidiary, Discovery Gold Ghana Limited, currently holds a 95% interest in the option of the exclusive rights to explore the Edum Banso Gold Project within the historic and prolific gold producing Ashanti Gold Belt in Ghana.
SOURCE Discovery Gold Corporation