Zephyr Energy plc, the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, is pleased to announce that its Ordinary Shares have been approved to trade on the OTCQB Venture Market ("OTCQB") in the United States of America (the "U.S.") and will commence trading at the market open today under the ticker ZPHRF.
The Company believes that dual trading on the AIM Market of the London Stock Exchange ("AIM") and the OTCQB will provide enhanced investor benefits, including easier access for investors based in the U.S. and increased liquidity due to a broader pool of potential investors.
The ability to trade in the Company's existing Ordinary Shares on AIM will not be affected by having the OTCQB facility and no new Ordinary Shares have been issued. Zephyr will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Service and has no Sarbanes-Oxley or U.S. Securities and Exchange Commission ("SEC") reporting requirements.
The OTCQB is recognised as an Established Public Market by the SEC and is a leading market for U.S. and international companies in the entrepreneurial and development stage. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
The Company would like to thank Nikolaos Galanopoulos of Galanopoulos & Company, the corporate securities law firm that acted as Sponsor for the Company's application to commence cross-trading on the OTCQB.
Colin Harrington, Zephyr's Chief Executive, said: "We are pleased to commence Zephyr's dual trading on the OTCQB today, marking another step forward in this year of rapid progress for the Company. Cross-trading on the OTCQB will increase liquidity and significantly enhance the ability of U.S. based investors to access and trade Zephyr shares during a period in which we are actively expanding our U.S. asset base. Over the coming months, Zephyr's management will put specific additional emphasis on increasing our outreach efforts to U.S. based institutions and investors."
Jonathan Dickson, VP of International Corporate Services at OTC Markets, said: "We are delighted to welcome Zephyr Energy to the OTCQB Venture Market. With its primary listing remaining on London's AIM, the OTCQB's cross-trading facility will allow Zephyr to broaden its horizons and provide investors in the U.S. with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours."
