https://www.bizjournals.com/sanantonio/news/2...oject.html
Quote:MMEX Resources Corp. (OTCQB: MMEX) announced on Monday morning that the company will now be traded on the OTC Venture Market.
The uplisting comes ahead of the Nov. 17 groundbreaking for the first phase of its refinery project just northeast of Fort Stockton. Once complete, the crude distillation unit will be able to process 10,000 barrels of crude oil per day.
In a statement, MMEX Resources CEO Jack Hanks said the QB Venture Market listing is the latest milestone for the project, which was first announced in March. The company closed on a 126-acre land deal for the project in July and obtained an environmental permit for the crude distillation unit in August.
"With this latest achievement, we are now listed on the OTCQB and can provide greater transparency and governance for our shareholders," Hanks said in a statement.
The Over Counter Markets Exchange has its origins in the early 1900s when broker-dealer quotations were distributed on slips of pink paper that became known as “pink sheets" or "penny stocks."
With more than 10,000 companies on its exchange, the OTC Markets helps investors identify risk by classifying its securities into three categories based on their business practices and performance.
The OTCQX, or Best Market, is set aside for established investor-focused companies that regularly file with the U.S. Securities and Exchange Commission and have a professional third-party sponsor introduction.
The OTCQB, or Venture Market, is for entrepreneurial and development stage companies that have a strong baseline of transparency while the OTCPK, or Open Market, is the least regulated and open to companies that can be there for reasons of either default, distress or design.
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