GREY:NTCED - Post Discussion
Post by
ATLEVAN on Apr 08, 2011 5:01pm
Company development
NETCO ENERGY INC.
880 – 609 Granville Street
Vancouver, BC, Canada V7Y 1G5
Tel: 604-683-7588
NEWS RELEASE
NETCO CONFIRMS TSX ANNOUNCEMENT ON TIER RECLASSIFICATION
VANCOUVER, B.C. – MARCH 25, 2011, NETCO ENERGY INC. (NEI: TSX-V) (“Netco” or
the “Company”) further to the news put out by the TSX Venture Exchange (the “Exchange”),
yesterday management would like shareholders to understand that this reclassification has no
material impact on the Company’s business.
“When the new management team joined Netco we knew that the Company’s existing Tier 1
status was attributed to the historical gas assets, and that these assets would be unlikely to justify
a Tier 1 listing going forward.
As there are substantial additional costs associated with maintaining Tier 1 status, and no
appreciable benefit to a resource company that is not an investment issuer, the Company has
chosen to not pursue Tier 1 going forward, and will continue its business plan of securing and
developing South American Silver prospects as a Tier 2 Issuer. We would also like to note that
with few exceptions the vast majority of TSX Venture listed companies also operate as Tier 2
issuers.” states Director Colin Bowkett.
The Company’s immediate focus going forward is to develop its recently acquired Toruel Silver
prospect in the Rio Negro Province of Argentina. Management intends to perform a site visit in
the coming weeks and will begin a systematic mapping, trenching and sampling program thereafter.Effective on market open on Friday, March 25, 2011, the Company will be classified as a Tier 2
Issuer. This will not result in any change to Netco’s trading symbol, which will remain “NEI”.
For further information, please contact Colin Bowkett at (604) 683-7588 or visit the company
website at www.NetcoEnergy.com.
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