Vancouver BC. (FSCwire) - King’s Bay Resources Corp. (TSX.V: KBG, FSE: KGB1) (the “Company” or “King’s Bay Resources”) announces that it has been assigned the Legal Entity Identifier (“LEI”) number 5299008LRGOF2OYXQ954. The European Union has adopted regulations that require use of the LEI as a barcode equivalent aimed at pinpointing systemic risks.
About the Legal Entity Identifier (LEI)
The Legal Entity Identifier (LEI) number is a 20-digit alphanumeric code. It is an internationally standardized and globally valid identifier for financial market participants. Its purpose is to clearly and unequivocally identify contracting parties (e.g., companies, banks, and investment funds). It is used to comply with a variety of financial reporting requirements. The Deutsche Bӧrse Group has stated that “the LEI will clearly assist the regulatory authorities in monitoring and analysing threats to the stability of the financial markets, (but) it can also be utilised by counterparties internally for risk management purposes.”
King’s Bay Resources meets the requirement for all companies listed on German Stock Exchanges (ie. Frankfurt Stock Exchange) to have an LEI number by January 3, 2018.
According to the website of the Deutsche Bӧrse Group, the LEI number will affect most aspects of the securities markets in Europe, including trading, clearing, settlement, custody, collateral and liquidity management, market data and indices. (See http://deutsche-boerse.com/dbg-en/regulation/regulatorytopics/legal-entity-identifier)
About King’s Bay Resources
King’s Bay Resources is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development.
On Behalf of the Board
Kevin Bottomley President & Chief Executive Officer
O: 604 681 1568
E: Kevin@kingsbayres.com
For Investment Inquiries please contact:
Jared Rushton
O: 604 681 1568
E: Jrushton@kingsbayres.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/KingsBay11202017.PDFSource: King’s Bay Resources Corp. (TSX Venture:KBG)
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