CALGARY, Alberta, Sept. 12, 2017 (GLOBE NEWSWIRE) — Tanager Energy Inc. (“Tanager” or the “Corporation”) (TSX-V:TAN) (OTCQB:TANEF) is pleased to announce that effective September 8, 2017, the symbol for trading of Tanager’s common shares in the United States on the OTCQB® Venture Market (“OTCQB”) has changed from “MNIRF” to “TANEF”. Tanager continues to trade on the TSX Venture Exchange (“TSX-V”) under the trading symbol “TAN”.
Effective August 25, 2017, Tanager’s common shares were upgraded and approved for trading on the OTCQB in the United States.
The OTCQB in the United States is similar to the TSX-V in Canada for early stage and developing international companies. To be eligible for the OTCQB, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process.
The OTCQB provides more efficient access to U.S. investors, helping Canadian companies to build shareholder value with a goal of enhancing liquidity and share valuation. In addition, investors have access to more transparent pricing information through the availability of premium Real-Time Level 2 quotes. This, in turn, leads to more efficient trading for investors. Through trading on the OTCQB, companies can engage a far greater network of U.S. investor, data distributors and media partners, ensuring U.S. investors have access to the same high-quality information that is available to investors in Canada, but through U.S. platforms and portals used to conduct research.
The corporate and securities law firm of Berns & Berns acts as the Corporation’s OTC Markets Sponsor.
Tom M. Crain, Jr., interim CEO of Tanager, stated, “Our new trading symbol of “TANEF” on the OTCQB is more closely identifiable with Tanager’s name. Trading our common shares on the OTCQB is a significant step forward for Tanager. It will enable us to expand our U.S. shareholder base as well as offer the company’s existing U.S. shareholders a more transparent and efficient platform to obtain quotations and trade in Tanager securities.”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Tanager Energy Inc. is an oil and natural gas and mineral exploration company headquartered in Calgary, Alberta, with executive offices in Houston, Texas. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “TAN” and OTCQB as “TANEF”.
For further information please contact:
Tom M. Crain, Jr.
Interim Chairman of the Board and Chief Executive Officer
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding: the business of Tanager. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Tanager’s current beliefs and is based on information currently available to Tanager and on assumptions Tanager believes are reasonable. These assumptions include, but are not limited to: market acceptance and approvals, and future costs and expenses being based on historical costs and expenses.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Tanager to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; geological, technical, drilling and processing problems; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Tanager; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Tanager’s disclosure documents on the SEDAR website at www.sedar.com. Although Tanager has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Tanager as of the date of this news release and, accordingly, is subject to change after such date. However, Tanager expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.