Excelsior Mining Corp (TSE: MIN, FSE: 3XS, OTCQX: EXMGF) can now offer, sell and issue securities in the state of California after it acquired what is called Blue Sky exemption.
Brokers and investment advisers are not permitted to recommend, solicit or discuss a security with a client unless that security is compliant with the Blue Sky laws of the state where the investor lives.
With the addition of California, the most populated US state, Excelsior now has Blue Sky trading status in 28 American states.
The move continues the firm's strategy of laying the groundwork for a listing on a major US stock exchange once all the qualification thresholds have been met, it said.
Excelsior's Gunnison is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is scheduled for commercial production in 2018.