Monday, November 27, 2017

92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) Obtains Legal Entity Identifier Number Required by European Union

  • LEI number is equivalent to a barcode and The European Union requires it to identify financial market participants, such as banks and investment funds
  • German Stock Exchanges (Frankfurt Stock Exchange) mandate that LEI numbers are required by January 3, 2018 for all listed companies
  • 92 Resources Corp. is a Vancouver, Canada-based emerging junior exploration company that owns six sites in Canada
92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) announced that it has been assigned a Legal Entity Identifier (“LEI”) number (http://nnw.fm/6E0Us). It is significant because the European Union has adopted regulations that require use of the LEI as an equivalent to a barcode, pinpointing systematic risks.
This 20-digit alphanumeric code is both an internationally standardized and globally valid identifier for financial market participants. Its purpose is to clearly identify contracting parties, such as investment funds, banks, and other companies. It is also used to comply with a number of financial reporting requirements.
92 Resources is a Vancouver-based emerging junior exploration company focused on acquiring and advancing strategic and prospective assets to the benefits of its shareholders, targeting primarily modern energy-related projects. 92 Resources owns six properties in Canada, with its three principal assets being the Hidden Lake Lithium Property in the Northwest Territories, the Corvette Lithium Property, QC, and the Golden Frac Sand Property, BC.
92 Resources now meets the requirements of the Frankfurt Stock Exchange to have an LEI number by January 3, 2018. “The LEI will clearly assist the regulatory authorities in monitoring and analyzing threats to the stability of the financial markets (but) it can also be utilized by counter parties internally for risk management purposes,” the Deutsche Borse Group stated. It added on its website that the LEI number will affect most aspects of the securities markets in Europe (http://nnw.fm/p32rL). These include clearing, trading, settlement, collateral, custody, and liquidity management.
For more information, visit the company’s website at www.92Resources.com
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