Caspian Energy Inc.

Caspian Energy Inc.

June 11, 2013 15:11 ET

Caspian Advised of Delisting on Toronto Stock Exchange

CALGARY, ALBERTA--(Marketwired - June 11, 2013) - Caspian Energy Inc. ("Caspian") (TSX:CEK) announced today that the Continued Listings Committee of the Toronto Stock Exchange ("TSX") has determined to delist Caspian's common shares effective at the close of market on July 11, 2013. A letter from the TSX Continued Listing Committee states that the delisting was imposed due to Caspian's failure to meet the continued listing requirements of the TSX. Caspian intends to appeal this decision before the scheduled delisting date and submit written arguments to the TSX. The TSX has encouraged on-going dialogue as Caspian moves forward with its plans and Caspian intends to pursue this. Caspian also plans to make an application for listing on NEX, subject to the outcome of its appeal to the TSX.

Caspian continues to be subject to a cease trade order of the Alberta Securities Commission which prohibits trading in Caspian's securities.

Forward-Looking Statements:

Certain statements included or incorporated by reference in this press release constitute forward-looking statements. The words "will", "believe", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "schedule" and similar expressions identify forward-looking statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein. There is no certainty that Caspian's appeal or listing application will be successful. Forward-looking statements are made as of the date of this press release and the Caspian disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise.

Contact Information

  • Caspian Energy Inc.
    William Ramsay
    President and Chief Executive Officer
    44 (0)773663 1378

    Caspian Energy Inc.
    Brian Korney
    Chief Financial Officer
    (403) 513-3375