West Point Gold Corp. Engages ICP Securities Inc. for Automated Market Making Services
Rhea-AI Summary
West Point Gold (WPGCF) has announced engaging ICP Securities Inc. for automated market making services. The agreement, which began on February 12, 2024, has an initial term of four months with automatic one-month renewals thereafter, unless either party provides 30 days notice of termination.
ICP will provide automated market making services using its proprietary algorithm, ICP Premium™, in compliance with TSX Exchange policies and applicable legislation. The company will pay ICP a monthly fee of C$7,500 plus taxes. The agreement contains no performance factors, stock options, or additional compensation.
ICP's primary role will be to correct temporary imbalances in supply and demand of West Point Gold's shares. Currently, ICP has no direct or indirect interest in the company or its securities but may acquire an interest in the future.
Positive
- Implementation of automated market making services to improve share liquidity
- Clear cost structure with fixed monthly fee of C$7,500
Negative
- Additional monthly operating expense of C$7,500 plus taxes
News Market Reaction
On the day this news was published, WPGCF gained 9.69%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2025) - West Point Gold, (TSXV: WPG) (OTCQB: WPGCF) (FSE: LRA0) ("West Point Gold" or "the Company") is pleased to announce that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Exchange and other applicable legislation. ICP will be paid a monthly fee of C
ICP is an arm's length party to the Company. ICP has no present, direct or indirect interest in the company or its securities, nor any right or present intention to acquire such an interest. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
About ICP Securities Inc.
ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About West Point Gold Corp.
West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA. West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.
For further information regarding this press release, please contact:
Aaron Paterson, Corporate Communications Manager
Phone: +1 (778) 358-6173
Email: info@westpointgold.com
Stay Connected with Us:
LinkedIn: linkedin.com/company/west-point-gold
X (Twitter): @westpointgoldUS
Facebook: www.facebook.com/Westpointgold/
Website: westpointgold.com
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business, including any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents, which can be found on SEDAR at www.sedarplus.ca. West Point Gold does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240499
FAQ
What is the duration of West Point Gold's (WPGCF) market making agreement with ICP Securities?
How much will West Point Gold (WPGCF) pay for ICP Securities' market making services?
What services will ICP Securities provide to West Point Gold (WPGCF)?
Does ICP Securities currently hold any shares or interest in West Point Gold (WPGCF)?
