Dynaresource, Inc 8-K, filed Oct 13, 2023
Dynaresource, Inc. (DYNR)
About this 8-K
Dynaresource, Inc filed this 8-K on October 13, 2023, reporting on events of October 12, 2023.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report:
Date of earliest event reported: October 10, 2023
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On October 11, 2023, the Company and OTC Markets Group, Inc. issued a press release announcing the Company’s upgrade from the OTCQB® Venture Market to the OTCQX® Best Market, where the Company’s Common Stock will trade under the symbol “DYNR.” A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Dated: October 12, 2023 | By: | /s/ Koy W. (“K.D.”) Diepholz |
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| Koy W. (“K.D.”) Diepholz, CEO |
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EXHIBIT 99.1
OTC Markets Group Welcomes DynaResource, Inc. to OTCQX
NEW YORK – DATE – OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced DynaResource, Inc. (OTCQX: DYNR), a junior gold resource company, has qualified to trade on the OTCQX® Best Market. DynaResource, Inc. upgraded to OTCQX from the OTCQB® Venture Market.
DynaResource, Inc. begins trading today on OTCQX under the symbol “DYNR.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
[company quote - Please note that we cannot legally use the term “list” in any of its forms, since we are not an exchange. You can say begins trading, now trades, quotation, graduates.]
About DynaResource, Inc.
DynaResource, Inc. (“DynaResource”) is a dynamic and emerging junior gold resource company currently conducting test mining and milling activities and producing high grade gold concentrates, and continuing exploration activity, at the prolific, high grade gold project San Jose de Gracia, in Northern Sinaloa Mexico, through its 100% owned subsidiary in Mexico, DynaResource de Mexico SA de CV. (“DynaMéxico”).
DynaMéxico owns 100% of San Jose de Gracia (“SJG”), which is comprised of 33 mining concessions covering a total of 9,920 Hectares. DynaMéxico is continuing the development and definition of the world class, multi-million oz gold potential of SJG:
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| ❖ | Including the + 1 M gold oz potential in near surface, bulk tonnage resources. |
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| ❖ | Including the + 1 M gold oz. potential in underground resources. |
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| ❖ | Including high gold grades at several resource areas. |
DynaMéxico has reported revenues of +$120M USD since 2016, when DynaMéxico commenced test mining and milling activities at SJG with a $4M USD private funding. Since the startup in 2016, DynaMéxico has paid +$35M USD in project improvement and expansion costs and has increased volume of its test mining and milling activities by 500%.
At December 31, 2022, DynaMéxico reports the following resources at San Jose de Gracia (please note Technical Disclosure footnote below*).
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| 1. | In CND NI 43-101 Technical Report and Resources Estimate dated December 31, 2012; DynaMéxico reported an underground resource of 1.150 M Oz Au as initially disclosed in a DynaResource Form 10-K filing dated April 12, 2013; and, |
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| 2. | The amount of material reported by DynaMéxico as test mined and milled, and the amount of gold oz. sold, through December 2022, as disclosed in the DynaResource Form 10-K filing dated April 17, 2023; and |
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| 3. | The amount of that underground resource remaining at December 31, 2022, as disclosed in the DynaResource Form 10-K filing dated April 17, 2023; and |
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| 4. | In updated resource estimate dated March 30, 2023; A near surface, bulk tonnage resource of + 1.05 M Oz. Au, as disclosed in the DynaResource Form 10-K filing dated April 17, 2023. |
*Technical Disclosure: Please note the Technical Disclosure reported by DynaResource in its Form 10-K filing dated April 17, 2023.
At September 30, 2023, DynaResource reports fully diluted 27.5M Shares outstanding; including an Industry Partner as a major shareholder (Ocean Partners UK Limited), who acquired 1M Shares of DynaResource, Inc. for $5M USD in August 2023.
For more information regarding DynaResource, Inc. and San Jose de Gracia; please visit www.DynaResource.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
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OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
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