VANCOUVER, Dec. 1, 2014 /CNW/ - Jericho Oil Corporation ("Jericho" or the "Company") (TSX-V: JCO, OTCQX: JROOF), a growth-oriented oil company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in North America, announces that its common shares will commence trading on the OTCQX® marketplace in the U.S., effective Dec. 1, 2014 under the symbol JROOF.
Trading on OTCQX is designed to provide existing and future U.S. based shareholders with greater access to and ease of trading in the Company's shares. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Jericho on www.otcmarkets.com .
Allen Wilson, CEO of Jericho, stated, "Our operations are based in the U.S. and the OTCQX marketplace is an important part of our capital markets strategy, providing us with greater exposure and accessibility to U.S. investors at this exciting stage in our development."
Jericho is well-capitalized following its recent $4.23 million equity financing. The Company is currently drilling 50 producer and injector wells as part of its Phase II Development program in Eastern Kansas and expects continued growth in Q4-2014 and Q1-2015.
Merriman Capital, Inc. serves as Jericho's Principal American Liaison ("PAL") responsible for providing professional guidance on OTCQX requirements.
About Jericho Oil Corporation
Jericho is focused on growth through consistent, predictable and repeatable high margin conventional oil production by bringing new and proven technology to legacy, onshore basins in North America. The Company has acquired a 50% interest in 29 leases comprised of nearly 3,750 acres. Jericho expects to continue its extensive development program throughout the next 12 months and will provide updates as the program progresses. For more information, please visit www.jerichooil.com.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Jericho Oil Corporation