Canadian-based but Argentina focused upstream oil and gas company Madalena Resources announced yesterday that the Company’s common shares commenced trading today on the OTCQX®Best Market, a top tier public market in the United States, under the symbol MDLNF.
Madalena will continue to trade on the TSX Venture Exchange under the symbol MVN.
“In response to growing investor interest we have chosen to have Madalena’s shares traded on the OTCQX, enabling greater exposure and accessibility to our expanding U.S. and global shareholder base,” said Madalena’s President and CEO Kevin Shaw. “Madalena looks forward to broadening its shareholder base further through the OTCQX platform.”
Burns Figa & Will PC will serve as Madalena’s Principal American Liaison (“PAL”) on OTCQX, and will be responsible for providing guidance on OTCQX requirements and compliance with U.S. securities laws.
OTCQX provides Madalena with exposure to both institutional and retail investors through major online and full-service brokerage firms. Trades are settled and cleared in the United States similar to any NASDAQ or NYSE stock, and trade reports are disseminated through major financial data providers.
Madalena holds approximately 950,000 net acres in five provinces of Argentina where it is focused on the delineation of large shale and unconventional resources in the Vaca Muerta shale, Lower Agrio shale, Loma Montosa oil play and the Mulichinco liquids-rich gas play. The Company is implementing horizontal drilling and completions technology to develop both its conventional and resource plays.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Madalena at: http://www.otcmarkets.com/stock/MDLNF/quote
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