BRIDGEWATER, NJ, Oct. 7 /PRNewswire-FirstCall/ -- PrimeGen Energy Corp. (Other OTC:PGNE.PK - News) ("PrimeGen" or the "Company") today announced that the company has subscribed to the Pink Sheets OTC Disclosure and News Service so it can maintain transparency by reporting its quarterly and annual financial information through the service. The company has completed the necessary paperwork, submitted it to Pink OTC Markets Inc., which operates http://www.pinksheets.com/ and related websites, paid the required fee, and now has an account with log-in information for filing financial statements and other disclosure documents.
By reporting its quarterly and annual financial information through the Pink Sheets OTC Disclosure and News Service, the company will be placed in the "Current Information" designation at pinksheets.com. Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. The Current Information designation falls in the "Transparent" category as defined by the Pink Sheets.
"We have completed this first step as outlined by the Pink Sheets to be included in its 'Current Information' category," commented Robert Charlton, CEO of PrimeGen Energy Corp. "As we work to support the business of our Russian assets and the expected close of additional transactions, maintaining transparency will be an important factor so that PrimeGen can be accurately valued as a public company.
"We will continue to keep our shareholders updated as we move forward in the process of reporting through the Pink OTC Markets system," Mr. Charlton added.
Subscribing to the OTC Disclosure and News Service is the first step to comply with the guidelines contained in "Pink OTC Markets' Guidelines for Providing Adequate Current Information." Subsequent steps that PrimeGen intends to take include the posting of quarterly and annual financial statements through the OTC Disclosure and News Service, publishing a quarterly letter from an attorney stating that the issuer's disclosure meets specified requirements and maintaining an SEC registered transfer agent. The quarterly and annual financial statements will be prepared in accordance with U.S. GAAP requirements. PrimeGen will post the required disclosure on http://www.pinksheets.com/. Pink OTC Markets will verify that the company's quarterly or annual report, in addition to the attorney letter regarding completeness of disclosure, has been posted within 75 days after each quarter ended and within 120 days after each fiscal year-end.
Additional information on the Pink Sheets OTC Disclosure and News Service and more details on the requirements for Current Information status can be found http://www.pinksheets.com/pink/otcguide/categories.jsp.
About PrimeGen Energy Corporation
PrimeGen Energy Corp. is an oil and gas exploration Company whose primary focus is exploring and developing high potential unconventional resource plays. The Company's strategy and development assets are focused on a prolific and historic oil and natural gas resource play in Krasnoarmeiskome District, Saratovskoi Oblast in Russia. The Company is headquartered in Bridgewater, NJ and has offices in Moscow, Russia. PrimeGen Energy plans to use its comparative advantages in certain geographic regions to expand rapidly through strategic acquisitions of small oil and gas producing entities and production assets including wells, properties, operating equipment, and pipelines.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the Act and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early stage company in the alternative energy industry, its products, and the entry into new markets for such products. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's current and periodic reports filed from time to time with the Securities and Exchange Commission
CONTACT: PrimeGen Energy Corp., Robert Charlton, President, info@primegenenergycorp.com
PrimeGen Energy Corp.
CONTACT: PrimeGen Energy Corp., Robert Charlton, President,
info@primegenenergycorp.com
