SAN FRANCISCO, Nov. 30, 2010 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (Nasdaq: MERR), announced today that it will serve as the Principal American Liaison (PAL) for United Mining Group (TSX: UMG; OTCQX: UMGZF) as it lists on OTCQX®.
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United Mining Group is a profitable, vertically integrated mining company with operations in Idaho. The company announced today that it is now trading on the OTC market's highest tier, OTCQX®.
OTCQX distinguishes the best companies traded OTC from more than 9,000 securities traded on the OTCBB and Pink Sheets® that are not required to meet any financial standards or undergo a qualitative review.
Spencer Grimes, Merriman Capital managing director, said: "With operations in the United States, it is natural for United Mining to increase it's exposure to U.S. investors. Listing on the OTCQX today does exactly that. We are excited to be their partner in this effort."
About United Mining Group
United Mining Group (TSX: UMG, OTCQX: UMGZF) is a US based, profitable, vertically integrated mining company based in Idaho’s Silver Valley, the second largest silver camp in the world. UMG is earning an 80% interest in the Crescent Silver Mine which has historically produced 25 million ounces of silver at an average grade of 27.3 opt (SRK 43-101, March 2010). UMG is committed to building a senior silver-producing mining company based on aggressive exploration and development of its highly-prospective current land position and through the acquisition of additional silver interests. For more information, please go to www.unitedmininggroup.com.
About OTCQX
The OTCQX marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX companies, visit www.otcqx.com.
About Merriman Holdings, Inc.
Merriman Holdings, Inc. (Nasdaq: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services. Merriman specializes in three industry growth sectors: CleanTech, Consumer, Media & Internet and Technology. For more information, please go to http://www.merrimanco.com/.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2010 and the Form 10-Q filed on November 15, 2010, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
SOURCE Merriman Holdings, Inc.
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