Permex Petroleum Corporation Postpones Listing on NYSE American
Permex Petroleum Corporation (CSE: OIL) announced a postponement of its NYSE American listing, initially planned for November 10, 2022, due to current market conditions. The company will reassess the situation in the coming months. A registration statement with the U.S. Securities and Exchange Commission has been filed but is not yet effective, meaning no securities may be sold until it is. Permex operates in oil and gas exploration across the Permian and Delaware Basins, focusing on sustainable and scalable growth strategies.
- Permex operates in lucrative oil and gas regions - Permian Basin and Delaware Sub-Basin.
- Company's focus on sustainable growth could enhance long-term stability.
- Postponement of NYSE American listing indicates adverse market conditions affecting investor confidence.
- Uncertainty about market conditions may hinder future financing and expansion.
DALLAS, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCD) (FSE: 75P) (“Permex” or the “Company”), an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties on private, state and federal land in the United States, today announced that it has decided to postpone its listing on the NYSE American, which was announced on November 10, 2022, due to market conditions. Permex will reassess the market conditions in the coming months and will keep the market informed.
A registration statement relating to Permex’s securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Permex Petroleum Corporation
Permex Petroleum is a uniquely positioned junior oil and gas company with assets and operations across the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico. The Company focuses on combining its low-cost development of Held by Production assets for sustainable growth with its current and future Blue-Sky projects for scale growth. The Company, through its wholly-owned subsidiary, Permex Petroleum US Corporation, is a licensed operator in both states, and owns and operates on private, state and federal land. For more information, please visit www.permexpetroleum.com.
Forward-Looking Statements
Statements in this press release may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws as well as applicable Canadian securities laws. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Company’s reports that it files from time to time with the U.S. Securities and Exchange Commission and the Canadian securities regulators which you should review. When used in this press release, words such as “will,” “could,” “plan,” “estimate”, “expect”, “intend”, “may”, “potential”, “believe”, “should” and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements relating to the Company’s plans to list on NYSE American, financial condition and operating results, legal, economic, business, competitive and/or regulatory factors affecting Permex’s businesses and any other statements regarding events or developments Permex believes or anticipates will or may occur in the future. These forward-looking statements should not be relied upon as predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other person that it will achieve its objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any obligation to publicly update or release any revisions to these forward- looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.
Contact Information
Permex Petroleum Corporation
Mehran Ehsan
President, Chief Executive Officer & Director
(469) 804-1306
Gregory Montgomery
CFO & Director
(469) 804-1306
Or for Investor Relations, please contact:
Dave Gentry
OILCF@redchip.com
FAQ
Why did Permex Petroleum postpone its NYSE American listing?
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