Maverick Drilling & Exploration Ltd. (MRVKY) announced that it has received shareowner approval to change its corporate name to Freedom Oil & Gas Ltd., effective November 7, 2016. The Company's common stock will trade on the Australian Stock Exchange under the new trading symbol "FDM" beginning on November 10, and in the U.S. on the OTCQX under the symbol "FDMQF" beginning on November 14.
Concurrent with the new name, the Company unveiled a new identity and redesigned website, which can be found at www.freedomog.com. The new site highlights the Company's mission to build a growing, investment-grade oil and gas company and profiles the restructured senior management team that has the exploration and production experience to accomplish that mission.
"Changing our name to Freedom Oil & Gas formalizes a close out of the past activities of the company and its history. We have transitioned from being a drilling contractor and small producer to an early stage development-focused, E&P company," stated J. Michael Yeager, Chairman and Chief Executive Officer. "With our new intent to develop acreage we have acquired in the Eagle Ford Shale, and to no longer have a drilling contractor aspect to our company, our legacy name was no longer a good fit. We are very glad our shareholders agree, and we are proud to launch the new name."
