CALGARY, May 18, 2012 /CNW/ - Shona Energy Company, Inc. (TSX.V: SHO, OTCQX: SHOAF) ("Shona" or "the Company"), an international oil and natural gas exploration, development and production company focusing on South America, today announced that its common shares have commenced trading in the United States on OTCQX International under the symbol "SHOAF". Shona's common shares will continue to trade on the TSX Venture Exchange under the symbol "SHO".
"Trading on the OTCQX will enable U.S. investors to easily trade Shona stock and efficiently access the Company's financial information," said Jim Payne, President and CEO of Shona Energy Company. "Joining OTCQX will increase the Company's visibility among the U.S. investment community, potentially expanding Shona's shareholder base."
OTCQX is the premium tier of the U.S. Over-the-Counter (OTC) marketplace which gives non-U.S. companies access to U.S. investors, without the duplicative regulatory costs required of a listing on a traditional U.S. exchange. OTCQX companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their U.S. regulated broker-dealers.
Global Hunter Securities, LLC will serve as the Company's Principal American Liaison ("PAL") on the OTCQX, and has acknowledged to the OTC Markets Group that the company meets the requirements of the OTCQX International. Investors can find Real-Time Level 2 quotes, disclosure and financial information at www.otcmarkets.com.
Shona is an international oil and natural gas exploration, development and production company focusing on South America, specifically Colombia and Peru. The Company's assets currently include interests in the Company-operated Esperanza block located in Colombia's Lower Magdalena Basin, the non-operated Serrania, Los Picachos and Macaya Blocks in Colombia's Caguan Basin, and the non-operated Block 102 in Peru's Maranon Basin. The common shares of the Company trade on the TSX Venture Exchange under the stock symbol "SHO". More information on the Company is available at www.shonaenergy.com.
About Global Hunter Securities
Global Hunter Securities, LLC is a full-service independent international investment bank focusing on Natural Resources sectors, including Oil & Gas Exploration & Production, Oil Field Services, Metals & Mining, Shipping and Industrials. GHS provides idea-driven research, and innovative capital raising, financial advisory and restructuring services, all supported by robust sales and trading teams. GHS serves clients around the world from offices in New Orleans, Boston, Calgary, Chicago, Costa Mesa, Fort Worth, Houston, New York, and San Francisco. For more information about GHS, please visit www.ghsecurities.com.
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information is based on a number of factors and assumptions which have been used to develop information but which may prove to be incorrect. Although Shona believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because Shona can give no assurance that such expectations will prove to be correct. Shona undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on this forward-looking information.
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 press release.
For further information:
please contact either of the following individuals:
David Gian, Treasurer & Investor Relations
Shona Energy Company, Inc.
Shetal Mentlewski, VP Admin & Legal
Shona Energy Company, Inc.