4 April 2024
Union Jack Oil plc
("Union Jack" or the
"Company")
OTCQB Venture Market Trading Facility in
the United States of America
Union Jack Oil plc (AIM: UJO) and (OTCXB:
UJOGF), a UK and USA focused onshore hydrocarbon production,
development and exploration company, is pleased to
announce that the Company's Ordinary Shares have been approved to
trade on the OTCQB Venture Market ("OTCQB") in the United States of
America (the "USA") and will commence trading at market open today
under the ticker UJOGF.
The Company believes that dual trading on the
AIM Market of the London Stock Exchange ("AIM") and the OTCQB will
provide enhanced investor benefits, which include an uncomplicated
trading access for investors based in the USA and increased
liquidity due to a broader geographic pool of potential
investors.
The ability to trade in the Company's existing
Ordinary Shares on AIM will not be affected by having the OTCQB
facility and no new Ordinary Shares have been issued. Union
Jack will continue to make announcements and disclosures to the
London Stock Exchange through the Regulatory News Service and has
no Sarbanes-Oxley or USA Securities and Exchange Commission ("SEC")
reporting requirements.
The OTCQB is recognised as an Established Public
Market by the SEC and is a leading market for USA and international
companies in the development stage. To be eligible, companies
must be current in their financial reporting, pass a minimum bid
price test and undergo an annual company verification and
management certification process. As a verified market with
efficient access to USA investors, OTCQB helps dynamic companies
build shareholder value with a goal of enhancing liquidity and
achieving a fair valuation.
Harbor Access (web: harbor-access.com), an
established North American based Investor Relations Group has been
appointed to represent Union Jack, to assist with increasing
visibility and facilitating a better understanding of the Company
throughout the USA financial markets.
The Company would like to thank the team at the
International Corporate Services of OTC Markets, both sides of the
Atlantic for their assistance, and B. Riley Financial Inc, a
respected corporate securities firm that acted as Sponsor for the
Company's application to commence trading on the OTCQB.
David Bramhill,
Executive Chairman of Union Jack, commented:
"Obtaining a trading facility on the OTCQB is another
important step forward and a new chapter in Union Jack's commitment
to increasing its profile in the USA, especially at a time where we
are actively conducting an ongoing drilling program in Oklahoma and
building a quality portfolio of cash generative Mineral Royalties
focused on the Permian Basin, Texas and Bakken Shale, North
Dakota.
"Our expansion and diversification in the USA
complements our already cash generative and profitable hydrocarbon
production and development business in the UK and we look forward
to material growth over the next year and beyond."
Jonathan
Paterson, Founder of Harbor-Access IR, commented:
"We are very pleased to be working with the Union Jack
team. The Company is well positioned, with proven producing
assets in the UK and an impressive Mineral Royalties portfolio and
drilling campaign within the USA, which will resonate with North
American investors leading to a successful IR program."
Jonathan
Dickson, VP of International Corporate Services at OTC Markets,
commented: "We are delighted to welcome Union
Jack to the OTCQB Venture Market. With its primary listing
remaining on London's AIM, the OTCQB's cross-trading facility will
allow Union Jack to broaden its horizons and provide investors in
the USA with the ability to access the Company's Ordinary Shares in
US dollars and during USA market hours."
For further
information, please contact:
Union Jack Oil
plc
info@unionjackoil.com
David Bramhill
SP Angel
Corporate Finance
LLP
+44 (0)20 3470 0470
Nominated
Adviser and Joint Broker
Matthew Johnson
Richard Hail
Caroline Rowe
Kasia Brzozowska
Shore
Capital
+44 (0)20 7408 4090
Joint
Broker
Toby Gibbs
Iain Sexton
BlytheRay
+44 (0)20 7138 3204
Financial
PR
Tim Blythe
Megan Ray
Harbour
Access
+1 (475) 477
9402
USA Investor
Relations
Jonathan Paterson
Tommy Zima