Terra Nova Announces DTC Eligibility of its Common Sharesadmin
January 6, 2014 – Vancouver, British Columbia – Terra Nova Energy Ltd. (TSX-V – TGC) is pleased to announce that its common shares have been granted eligibility status by the Depository Trust Company (DTC), subsidiary of the Depository Trust & Clearing Corporation (DTCC).
DTC is the world’s largest post-trade financial services company. It provides electronic clearance, settlement, and information services for the vast majority of the equities and other securities in the United States. Trading of securities through DTC allows for cost-effective clearing and guaranteed settlement. Securities that are not DTC-eligible are often not accepted for trading at many brokerage firms due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to easily access those shares.
"We are pleased to have Terra Nova’s shares granted eligibility status by DTC," stated Nico Civelli, VP Finance of Terra Nova. "DTC-eligibility facilitates brokerage firms to trade our stock for their clients. Acquiring DTC eligibility status commonly improves overall share liquidity and share attractiveness in the US OTC Markets."
About Terra Nova Energy Ltd.
Terra Nova Energy Ltd. is an oil and gas company with a right to acquire up to a 55% working interest in two onshore petroleum exploration licenses ("PELs"), being PEL 112 and PEL 444, located on the western flank of the Cooper Eromanga Basin in the State of South Australia, Australia. Its common shares trade on the TSX Venture Exchange under the symbol "TGC" and its common shares trade in the U.S. on the OTCQX marketplace under the symbol "TNVMF."
For more information please contact:
Terra Nova Energy Ltd.
+41 44 217 4804
Forward looking information
This news release contains forward-looking information relating to Terra Nova’s intentions to conduct the seismic program and subsequent drilling programs and other statements that are not historical facts. Such forward-looking information is subject to important risks and uncertainties that could cause actual results to differ materially from what is currently expected, for example: risks related to oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, competition from other producers, inability to retain drilling rigs and other services, reliance on key personnel, and insurance risks. Findings by other oil and gas issuers does not necessarily indicate that Terra Nova will be successful in making such findings in the Western Flank. In making such forward-looking statements, Terra Nova has relied upon certain assumptions relating to geological settings, commodity prices, the stability of markets and currencies, the availability of capital, and Terra Nova’s ability to continue with the seismic and drilling programs. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Terra Nova may elect to, Terra Nova is under no obligation and does not undertake to update this information at any particular time, except as required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Posted: January 6th, 2014 under ACCESSWIRE.