NAEG Advances to Current Information Tier on Pink Sheets
February 09 2010 - 4:28PM
Marketwired
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.
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CONTACT: Native American Energy Group, Inc. Richard Ross Chief
Communications Officer Email Contact (718) 408-2323