BROSSARD, QC, March 30, 2017 /CNW Telbec/ - Squatex Energy and Ressources Inc. ("Squatex") (CSE: SQX), a Québec-based oil and gas exploration company, is pleased to announce that its common shares will commence trading on the Canadian Securities Exchange (CSE) at the opening of the market on Monday, April 3, 2017 under the stock symbol "SQX" (ISIN number CA 85224X1087).
Mr. Jean-Claude Caron, President and CEO of Squatex, said: "I am proud and very pleased that after more than 16 years of hard work, the company I founded in 2001 became Quebec's first oil and gas company to be listed on the stock market for more than a decade. The adoption of Bill 102 on the environment and Bill 35 on the development of hydrocarbons in Québec finally provides a clear legislative framework regulating oil and gas exploration from a technical as well as environmental point of view. These laws are an important step forward, now making the political and social environment favorable for Squatex to continue its exploration and development work." Mr. Caron adds: "The Massé structure with its conventional reservoirs that require no hydraulic fracturing covers at least 80 km2, or approximately 2% of the territory covered under research permits in the Lower St. Lawrence (4,313 km2)."
Squatex's planned exploration program for the next two years will provide a better understanding of the exploitable potential of its oil and gas exploration permits.
About Squatex Energy and Ressources Inc.
Squatex is a Québec-based junior oil and gas exploration company established in 2001 which main activity is, as operator, to carry out works and studies aiming at the evaluation and the development of the oil and gas potential of a territory of 656,093 hectares under exploration permits in the Province of Québec. Squatex holds a 70% net interest in 217,370 ha of exploration permits in the St. Lawrence Lowlands and in 431,339 ha of permits in the Lower St. Lawrence region.
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Squatex, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the development of Squatex's properties, or if any of them do so, what benefits Squatex will derive. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Squatex's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risks and Uncertainties" in Squatex's Management's Discussion and Analysis for the fiscal year ended March 31, 2016, and under "Risk Factors" in Squatex's Listing Statement (CSE Form 2A) dated February 27, 2017 copies of which are available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Squatex does not intend, nor does Squatex undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Squatex Energy and Ressources Inc.
7055 Boul. Taschereau,
Brossard, Québec J4Z 1A7
Website : www.squatex.com
SOURCE Ressource et énergie Squatex
For further information: Mr. Jean-Claude Caron, President, at 450-766-0861, Mr. Mario Lévesque, Director of Development, at 418-391-1155 or Mr. René Guimond , CPA, CGA, Vice President Finance, 450-766-0861