Simba Energy Joins OTCQX - Appoints New Director
January 17, 2012, Vancouver, British Columbia, Simba Energy Inc. (the “Company”) (TSXV: SMB, Frankfurt: GDA, OTCCBB: SMBZF) is pleased to update its shareholders on the following activities.
The Company announces it is now trading on the OTC market’s highest tier, OTCQX International, under the symbol SMBZF. The OTCQX, operated by OTC Markets Group Inc. (OTCQX: OTCM), is a financial information and technology services company that operates the leading electronic quotation and trading system in the U.S. OTC securities market.
"We are pleased we are now able to provide current and potential U.S. investors a better quality platform to access our Company's securities," states Robert Dinning, President & CEO of Simba Energy. "…the American investing public is becoming keenly aware of the importance of the secure and strategic supply of petroleum resources and opportunities in Africa. In response, while we continue advancing our portfolio of such assets we feel that this listing is an important step in exposing and presenting our company to the U.S. market."
Investors can now find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com. Soloway Group, PC will serve as Simba Energy's principal American liaison on OTCQX, responsible for providing guidance on OTCQX requirements.
Additionally, the Company is also pleased to announce the appointment of Mr. Hassan Hassan to the Board of Directors. Mr. Hassan is currently Managing Director – Operations for the Company overseeing the acquisition and development of energy resource assets in various countries throughout Africa and the Middle East. Mr. Hassan has spent the past 20 years as a consultant and advisor to numerous public and private companies for international business development and acquisitions in the resource and hi-tech sectors. During the past 8 years Mr. Hassan has focused on mineral resource opportunities in West Aftrican countries and developed strong relationships and affiliations within numerous governments and energy sector.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. The OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. The wide spectrum of OTC-traded companies are categorized into three tiers so investors can identify the level and quality of information companies provide:
- OTCQX (the quality-controlled marketplace for investor friendly companies);
- OTCQB (the U.S. reporting company marketplace for development stage companies), and;
- OTC Pink (the speculative trading marketplace)
To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com .
"The OTCQX platform supports a transparent marketplace with high-quality issuers, financial information disclosure and efficient trading for U.S. investors… we are pleased to welcome Simba Energy to OTCQX.", remarked R. Cromwell Coulson, president and chief executive officer of OTC Markets Group.
About Simba Energy Inc.
Simba Energy is a Vancouver, B.C. based oil and gas exploration company focusing on underexplored overlooked basins in its pursuit of hydrocarbon opportunities in Africa (currently Liberia, Mali, Ghana, Guinea, Kenya and others). This region has shown increased promise for development of new hydrocarbon deposits. The Company’s Senior Management Team aims to leverage their expertise and affiliations to pursue, secure and develop strategic assets that demonstrate high potential for drilling and or production operations; and to do so in a manner of best practices and to the betterment of those communities where we work.