SOURCE: Native American Energy Group

Native American Energy Group

February 09, 2010 16:28 ET

NAEG Advances to Current Information Tier on Pink Sheets

FOREST HILLS, NY--(Marketwire - February 9, 2010) - Native American Energy Group, Inc. ("NAEG" or the "Company") (PINKSHEETS: NAGP) reported today that the OTC Pink Sheets has upgraded the Company from its No Information Tier to Current Information Tier. All current and potential shareholders will now have access to the Company's Initial Company Information and Disclosure Statement, as well as related financial documents that were required to achieve Current Information Status with Pink OTC Markets, Inc.

Pink Sheets Current Information companies are required to submit filings to Pink Sheet regulators on a quarterly and annual basis. Securities of Pink Sheet companies that traded in 2009 who have provided current disclosure to the public markets, either through a regulator or directly to Pink OTC Markets, represented over 80% of all the dollar volume according to Pink OTC Markets.

Pink OTC Markets, Inc. provides inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. Pink OTC Markets operates the third largest U.S. equity trading venue, which requires strong standards for companies that fall under the Pink Sheets Current Information banner. The Current Information tier is for stronger OTC-traded companies that can satisfy financial and disclosure listing standards. Pink OTC Markets offers widespread access to all U.S. broker-dealers, enabling investors to seamlessly trade these securities through their institutional, online, or full-service brokers.

Joseph D'Arrigo, CEO of Native American Energy Group, expressed confidence in reaching the Company's strategic goals. Mr. D'Arrigo stated, "We are proud to have achieved a liquid public market for the Company's shares. NAEG is the first and only Pink Sheet Company to re-establish a bona-fide public status and resume trading from among the 'Original 26' companies that were de-listed to the Grey Market in March 2008. Being cleared for trading under the Company's new symbol, NAGP.PK, on the OTC Pink Sheets was a significant step for Native American Energy Group and its stockholders as it will provide greater outside investment opportunity for the Company. This coupled with the achievement of 'Current Information Status' puts the company back on track to achieve its goals. More information will be released in short order regarding the Company's latest advancements."

About Native American Energy Group, Inc. (PINKSHEETS: NAGP)

New York-based Native American Energy Group is an independent, energy resource development and management company that specializes in oil, natural gas, and alternative energy systems. For more information, please visit the Company's website at: www.nativeamericanenergy.com.

Safe Harbor Statement:

This release may contain descriptions of the Company's expectations regarding future business activities. These forward-looking statements are made in reliance upon safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Accordingly, actual results may differ materially from those contemplated by the forward-looking statements.

Contact Information

  • CONTACT:
    Native American Energy Group, Inc.
    Richard Ross
    Chief Communications Officer
    Email Contact
    (718) 408-2323