LONDON, Jan. 15, 2013 (GLOBE NEWSWIRE) -- Americas Diamond Corp. (OTCBB:ADMC) ("Americas Diamond" or "the Company") a diamond and precious metals exploration company, are pleased to announce that the company have been granted eligibility status by the Depository Trust Company (DTC).
The DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The DTC was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making "book-entry" changes to ownership of the securities. DTC provides securities movements for NSCC's net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments. The DTC also provides clearing, settlement and information services for equity securities, corporate and municipal bonds, government and mortgage backed securities, money market instruments and over-the-counter derivatives
In 2009, DTC settled transactions worth more than $299 trillion, and processed 299.5 million book-entry deliveries. In addition to settlement services, DTC brings efficiency to the securities industry by retaining custody of more than 3.5 million securities issues worth almost $34 trillion, including securities issued in the US and more than 120 foreign countries and territories.
"Securities not DTC eligible are often not accepted for trading at many institutions or simply restricted from being traded due to the amount of paperwork, manpower and importantly cost required to place and execute trades. This eligibility therefore increases our ability to attract new investors, thus improving liquidity." said Daniel Martinez, Chief Executive Officer of Americas Diamond Corp.
ABOUT AMERICAS DIAMOND: Americas Diamond Corp., (OTCBB:ADMC), is a publicly traded diamond and precious metals exploration company focused on effectively and efficiently acquiring, exploring and developing high impact natural resource properties.
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Americas Diamond Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Americas Diamond Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Americas Diamond. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
ON BEHALF OF THE BOARD OF DIRECTORS,
Americas Diamond Corp.
Daniel Martinez
Chief Executive Officer