CALGARY, ALBERTA--(Marketwired - Jan. 27, 2014) - PetroShale Inc. ("PetroShale" or the "Company") (TSX VENTURE:PSH) (OTCQX:PSHIF) is pleased to announce that its common shares will commence trading on OTCQX International, a segment of the OTCQX marketplace in the U.S., effective January 28th, under the ticker PSHIF. Trading on OTCQX is designed to provide current and future U.S.-based shareholders with greater access to and ease of trading in PetroShale's shares. U.S. based legal firm Dorsey & Whitney LLP is serving as the Company's Principal American Liaison on OTCQX International. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for PetroShale on www.otcmarkets.com.
In addition, PetroShale confirms that the acquisition of interests in North Dakota, previously announced on January 15, 2014, has now closed. Under the terms of the agreement, PetroShale paid a finders' fee of US$75,000 to an arm's length third party. This fee represents less than 3% of the total transaction cost to the Company.
PetroShale is a growing oil company committed to value creation by identifying and consolidating interests in the prolific, multi-zone Williston Basin in North Dakota and Montana. Through a strategic relationship with Denver-based Slawson Exploration Company, Inc. (SECI), a division of Slawson Companies, PetroShale seeks to leverage SECI's operating expertise to effectively and efficiently exploit this high-impact resource. PetroShale manages its risk and capital exposure by acquiring working interests in fields being developed by large, experienced and capable operators who employ leading-edge technologies to maximize production, optimize ultimate recoveries and enhance rates of return.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Note Regarding Forward-Looking Statements and Other Advisories
This press release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws, including but not limited to statements regarding the commencement of trading on the OTCQX marketplace and the benefits of trading on OTCQX to US-based shareholders. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events, or otherwise.