NEW YORK, Sept. 28, 2011 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world's largest electronic marketplace for broker-dealers to trade over-the-counter ("OTC") stocks, announced that Merrex Gold Inc. (OTCQX: MXGIF; TSX.V: MXI), a Canadian resource exploration company, is now trading on the highest tier of the OTC market, OTCQX®. (Logo: http://photos.prnewswire.com/prnh/20110118/MM31963LOGO ) Merrex Gold began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com. "The superior information and visibility of the OTCQX marketplace allows companies to efficiently build investor confidence and expand their shareholder base," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Merrex Gold to OTCQX." INTL Trading, Inc. will serve as Merrex Gold's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws. About Merrex Gold Inc.Merrex Gold Inc. (OTCQX: MXGIF; TSX.V: MXI) trades in the United States on OTCQX under the symbol "MXGIF", and in Canada on TSX Venture under the symbol "MXI". Merrex Gold Inc. is a Canadian resource exploration company. The 327 square mile (848 km2) Siribaya Gold Project in West Mali is Merrex's flagship property. The Siribaya Gold Project is being explored in conjunction with Merrex's 50% earn-in partner and project operator IAMGOLD Corporation. The 2011 exploration program within the Siribaya mega-structure includes 30,000 metres of RC drilling to further extend and define the footprint of the explored strike length of the Siribaya trends from three to seven kilometers of which 21,506 metres were completed prior to the commencement of the seasonal rains, and 10,000 metres of diamond drilling to increase the present NI 43-101 resource estimate of which 6,571 metres were completed prior to the commencement of the seasonal rains. Substantial numbers of assays from both the RC and diamond drilling programs remain outstanding. Outside of the Siribaya structures new mineralized trends have been discovered; Siribaya West which lies to the west of the Bambadinka Trend, and the Babara-Kofia trends which lie to the east of Siribaya on the Babara and Kofia permits. These trends will be further tested during the 2011 and 2012 field seasons. For further details about the Siribaya Gold Project visit Merrex's website at www.merrexgold.com. About OTC Markets Group Inc.OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link™ platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB® (the U.S. reporting company marketplace for development stage companies), and OTC Pink™ (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com. Subscribe to the OTCQX RSS Feed SOURCE OTC Markets Group Inc.
In trading on Friday, shares of the iShares Global Materials ETF entered into oversold territory, changing hands as low as $55.25 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.