Last checked at 1 Dec 2020 07:00
1st December 2020
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Westmount commences cross-trading on the OTCQB® Venture Market, New York
Westmount Energy Limited, the AIM-quoted oil and gas investing company focused on the Guyana-Suriname Basin, is pleased to announce that its ordinary shares of no par value each ("Ordinary Shares") will commence cross-trading today on the OTCQB® ("OTCQB Market") in New York, U.S., under the ticker symbol "WMELF".
The cross-trading facility on the OTCQB Market will allow Westmount's Ordinary Shares to be traded in US Dollars by broker-dealers in the United States. Westmount's Ordinary Shares will continue to trade on the AIM market of the London Stock Exchange with the ticker symbol "WTE". Westmount is not conducting any fundraising associated with this initiation of a quotation and cross-trading on the OTCQB Market.
Westmount is also pleased to announce that the Company's new corporate presentation can be viewed on or downloaded from its website at http://www.westmountenergy.com/presentations/.
Gerard Walsh, Executive Chairman of Westmount, commented:
"Westmount is the only quoted junior company on the AIM market that can provide investor access to a portfolio of drilling outcomes on the Canje and Kaieteur blocks, offshore Guyana. We have been looking at ways to broaden our investor base and we believe that participation in the OTCQB Market offers a cost effective way to achieve that objective. We understand that Westmount is the first AIM-listed E&P investment company to be quoted on this market. Also, given our investment focus on the Guyana-Suriname Basin, we are mindful of the substantial Guyanese diaspora living in the United States, and we are hopeful that this cross-trading facility provides an additional opportunity for exposure to exploration drilling outcomes in this prolific basin and the emerging Guyanese exploration success story."
"Furthermore, we have recently added North American shareholders to our share register via share exchange transactions with institutional and private shareholders of JHI Associates Inc., which has a 17.5% carried interest in the Canje block, offshore Guyana. The OTCQB Market provides these existing Westmount shareholders and potential new North American investors, the opportunity to trade Westmount shares, in their own time zone and in U.S. Dollars."
"I would like to thank Galanopoulos & Co. as our securities law firm sponsor in assisting the Company with this OTCQB Market submission."
Jonathan Dickson, VP of International Corporate Services at OTC Markets, said: "We are delighted to welcome Westmount Energy Ltd. to the OTCQB Market. With its primary listing remaining on London's AIM, the OTCQB Market's cross trading facility will allow Westmount to broaden its horizons and provide investors in the United States with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours.
"The OTCQB Market supports international companies seeking to strengthen visibility and transparency within the U.S. public market. Trading on AIM and on the OTCQB Market will enable Westmount to efficiently build global investor awareness and provide U.S. investors with a seamless trading facility, enabling investors to more easily trade through the broker of their choice. We would like to wish Westmount every success in their future trading on the OTCQB Market."
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For further information, please contact:
Westmount Energy Limited www.westmountenergy.com
David King, Director Tel: +44 (0) 1534 823059
Anita Weaver
Cenkos Securities plc (Nomad and Broker) Tel: +44 (0) 20 7397 8900
Nicholas Wells/Harry Hargreaves (Corporate Finance)
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