Edge Resources starts trading on AIM
Edge Resources Inc (C:EDE)
Shares Issued 105,929,740
Last Close 7/4/2012
.15
Thursday July 05 2012 - News Release
Mr. Brad Nichol reports
EDGE RESOURCES INC. ANNOUNCES ADMISSION TO LONDON'S AIM AND FIRST DAY OF TRADING
The admission and unconditional dealings of Edge Resources Inc.'s common shares commenced at 8 a.m. (Greenwich Mean Time) today on the AIM market, a listed securities market of the London Stock Exchange under the TIDM identifier EDG, with ISIN Code CA27986R1010. Edge will continue to be listed and actively traded on the TSX Venture Exchange.
Company Highlights:
- Edge is a dual AIM and TSXV listed company focused on the exploration and production of oil and gas in Western Canada
- The Company is currently producing at a rate of 867 boepd (May 2012, measured at the wellhead) and is cash flow positive on a monthly basis
- In accordance with its strategy, the Company has (i) made a series of relatively low cost acquisitions then (ii) enhanced those acquisitions through successful drilling and completions activities, and (iii) successfully cased 100% of the wells it has drilled to date
- The Company's reserves are located in the Primate area of Saskatchewan (oil), the Grand Forks area of Alberta (oil) and the Gilby/Willesden Green area of Alberta (natural gas)
- The Company has consistently increased its reserves on an annual basis, with a current Proved + Probable NPV10 value, based on the March 31, 2012 NI 51-101 engineering report of CDN$63.2 million
- In March 2012, the Company announced that it had raised CDN$4.5 million from Henderson Global Investors ("Henderson") to fund an initial phase of focused drilling on oil prospects in existing property in both Primate and Grand Forks
Edge currently has, and will have, 105,929,740 common shares in issue immediately following Admission.
Merchant Securities Limited is the Nominated Adviser and Broker to the Company.
Brad Nichol, President & CEO, commented, "In today's extremely challenging capital environment we are very pleased to have been successfully admitted to AIM. The dual listing will serve many purposes. Firstly, to better support the nearly 50% of our current shareholders who are European-based. Secondly, to build on the strength of our existing capital partnerships and to foster new, mostly institutional relationships. Thirdly, to access the more readily available and lower cost capital that the London market has to offer. Both the AIM and TSXV listings will give the Company better access to new and existing sources of capital that will offer the Company greater flexibility and opportunity to fund its aggressive growth plans." Nichol added, "With an aggressive oil-focused growth strategy in Saskatchewan's heavy oil hotbed, access to capital is a differentiating factor of critical importance. As a dually listed company, we are far better positioned than the majority of junior oil & gas companies to take advantage of the numerous opportunities available."
We seek Safe Harbor.