VANCOUVER, BC / ACCESSWIRE / May 2, 2024 / Green Bridge Metals Corporation (CNSX:GRBM )(OTCQB:GBMCF)(FWB:48 )(WKN:A3EW4S) (" Green Bridge " or the " Company ") announces its support for the recent passage of H.R. 3195 , the Superior National Forest Restoration Act, by the United States (US) House of Representatives. Introduced by Western Caucus Vice Chair Pete Stauber, this significant legislation overturns a previous decision that restricted mining on over 225,000 acres of mineral-rich land in Minnesota's Superior National Forest.
Western Caucus Chairman Dan Newhouse congratulated Vice Chair Stauber for his dedication to "securing America's mineral supply chains" and on the passage of this important legislation. He went on to say that the United States holds significant deposits of essential minerals, yet regulatory restrictions have hindered access and development, particularly in regions like northern Minnesota, which are rich in nickel, cobalt, and copper. These minerals are critical for enhancing America's mineral security and reducing dependence on foreign resources.[1]
" Today's (April 30) House passage of my Superior National Forest Restoration Act is great news for our state and nation. Instead of flat-out rejecting any mining project from developing the Duluth Complex located within the Superior National Forest, it is important to allow project-specific reviews that are based on the facts and science to take place. My legislation will remove the obstacles put in place by the Biden Administration, allowing our skilled miners to prove that they are ready to safely deliver Minnesota's mineral wealth to the nation using the best environmental and labor standards in the world. As the demand for minerals continues to skyrocket, we must invest in mineral production here at home rather than continue our dependence on child slave labor and environmentally damaging adversaries overseas. I urge Senator Schumer to bring this important job-creating legislation to the Senate Floor immediately, " stated Vice Pete Stauber. 1
The Duluth Complex, located within northern Minnesota's Superior National Forest and targeted by the recent legislation, is recognized as a world-class mineral deposit, housing nearly 8 billion tons of copper, nickel, cobalt, and platinum group metals. These resources are poised for a surge in demand driven by their critical applications in battery storage, electric vehicles (EVs), and other fast-growing sectors.[2] Green Bridge, committed to developing these 'battery metal' rich assets, considers the enactment of the Superior National Forest Restoration Act a pivotal moment that enhances the Company's prospects and strengthens domestic supply chains essential for future technological and industrial advancements.
The Company also announces that it has engaged the services of Independent Trading Group (" ITG ") to provide market making services in accordance with the policies of the Canadian Securities Exchange (" CSE "). ITG will trade common shares of the Company on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.
Under the terms of the engagement, ITG will receive compensation of CAD$5,000 per month, payable monthly in advance. The engagement is for an initial term of one month and will renew on a month-to-month term unless terminated. The engagement may be terminated by either party with thirty (30) days' notice. There are no performance factors contained in the engagement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the engagement, neither ITG nor its principals have an interest, directly or indirectly, in any securities of the Company.
ABOUT INDEPENDENT TRADING GROUP
Independent Trading Group (ITG) Inc. is a Toronto based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG 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.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
About Green Bridge Metals
Green Bridge Metals Corporation (formerly Mich Resources Ltd.) is a Canadian based exploration company focused on acquiring 'battery metal' rich mineral assets and the development of the South Contact Zone (the "Property") along the basal contact of the Duluth Intrusion, north of Duluth, Minnesota. The South Contact Zone contains bulk-tonnage copper-nickel and titanium-vanadium in ilmenite hosted in ultramafic to oxide ultramafic intrusions. The Property has exploration targets for bulk-tonnage Ni mineralization, high grade Ni-Cu-PGE magmatic sulfide mineralization and titanium.
ON BEHALF OF GREEN BRIDGE METALS,
"David Suda"
President and Chief Executive Officer
For more information, please contact:
David Suda
President and Chief Executive Officer
Tel: 604.928-3101
investors@greenbridgemetals.com
Forward Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
[1] House Passes Vice Chair Stauber's Bill to Unlock Minnesota's Mineral Wealth (mailchi.mp)
[2] https://stauber.house.gov/media/press-releases/house-passes-staubers-legislation-overturn-bidens-mining-withdrawal superior#:~:text=This%20legislation%20will%20overturn%20the,of%20Mine%20Plans%20of%20Operation
SOURCE: Green Bridge Metals Corporation
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