OTC Markets Group Welcomes Kolibri Global Energy Inc. to OTCQX
Kolibri Global Energy Inc. (OTCQX: KGEIF) has upgraded to the OTCQX Best Market from the OTCQB Venture Market. The transition, effective August 4, 2022, allows Kolibri to enhance visibility and adhere to higher financial standards and corporate governance practices. Kolibri expects to significantly increase its production rates and annual adjusted funds flow, projecting threefold and fourfold increases respectively by year-end 2022 compared to early 2022. The company aims for a debt to EBITDA ratio of less than 1.0, signifying strong financial health.
- Kolibri Global Energy upgraded to OTCQX from OTCQB, enhancing visibility and credibility.
- Projected production rates to increase threefold by year-end 2022 compared to the beginning of the year.
- Expected annual adjusted funds flow to be four times higher than 2021.
- Targeting a debt to EBITDA ratio of less than 1.0, indicating strong financial stability.
- None.
NEW YORK, Aug. 04, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Kolibri Global Energy Inc. (the “Company”) (TSX: KEI; OTCQX: KGEIF), an international energy company, has qualified to trade on the OTCQX® Best Market. Kolibri Global Energy Inc. upgraded to OTCQX from the OTCQB® Venture Market.
Kolibri Global Energy Inc. begins trading today on OTCQX under the symbol “KGEIF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
Wolf Regener, President and CEO of Kolibri commented, “We are pleased that we have begun trading on OTCQX, which is the highest tier of the OTC markets. Being upgraded to OTCQX validates our commitment to strong corporate governance, which includes clear and timely disclosures and our commitment to compliance with the applicable securities laws. In addition, it will increase our market awareness and visibility for investors. The transition to OTCQX is timely as the Company is on target to meet or exceed its previously announced financial guidance. This guidance has the Company exiting 2022 with production rates that are about three times higher than the beginning of the year with an annual adjusted funds flow that is about four times higher than what we achieved in 2021 and a total debt to EBITDA ratio at year-end of less than 1.0.”
About Kolibri Global Energy Inc.
Kolibri Global Energy is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects
For further information regarding Kolibri, contact:
Wolf E. Regener +1 (805) 484-3613
Email: wregener@kolibrienergy.com
Website: www.kolibrienergy.com
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
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