NEW YORK, May 11, 2012 /PRNewswire/ -- OTC Markets
Group Inc. (OTCQX: OTCM), the company that operates the world's
largest electronic marketplace for OTC-traded equities, today
announced that Underground Energy Corporation (OTCQX: UGGYF; TSX.V:
UGE), a company focused on developing and producing oil reserves
from shale formations, is now trading on the highest tier of the
OTC market, OTCQX®.
(Logo: http://photos.prnewswire.com/prnh/20110118/MM31963LOGO
)
Underground Energy began trading today on the OTC market's
prestigious tier, OTCQX International. Investors can find
current financial disclosures and Real-Time Level 2 quotes for the
Company on www.otcmarkets.com.
"The OTCQX platform supports a transparent marketplace with high
quality issuers, financial information disclosure and efficient
trading for U.S. investors," said R.
Cromwell Coulson, President and Chief Executive Officer of
OTC Markets Group. "We are pleased to welcome Underground Energy to
OTCQX."
Global Hunter Securities will serve as Underground Energy's
Principal American Liaison ("PAL") on OTCQX, responsible for
providing guidance on OTCQX requirements and U.S. securities
laws.
About Underground Energy Corporation
Underground Energy Corporation (OTCQX: UGGYF; TSX.V: UGE) of
Santa Barbara, California trades
in the United States on OTCQX
under the symbol "UGGYF", and in Canada on the TSX Venture Exchange under the
symbol "UGE". Underground Energy's primary focus is to identify,
acquire rights to, explore for, develop and produce oil reserves
from shale formations principally in the Western US. Underground
Energy focuses on identifying and acquiring sizable land positions
and prospects in historically prolific but under-explored shale
formations and in emerging shale plays that hold large volumes of
oil and gas resources. The company has petroleum leases on 68,524
net acres in California and
Nevada.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's
largest OTC marketplace for equity securities. Our OTC Link®
trading system delivers price transparency in over 10,000
securities and enables direct interaction between broker-dealers
that provide liquidity and execution services. We organize the wide
spectrum of OTC-traded equity securities into three marketplaces to
inform investors of opportunities and risks - OTCQX - The
Intelligent Marketplace for the Best OTC Companies; OTCQB® - The
Venture Marketplace; and OTC Pink® - The Open Marketplace. Our
information-driven platform makes it easy for investors to trade at
the best price through the broker of their choice and empowers
companies to build the best markets for their investors. To learn
more about our Open, Transparent, and Connected marketplace, visit
www.otcmarkets.com.
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SOURCE OTC Markets Group Inc.