Freestone Resources Inc. (fka FSNR)

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OTC Markets Group Celebrates Completion of OTCQB Venture Market Rollout
America's Venture Market reaches 1,033 securities and $74.2 billion aggregate market capitalization

PR Newswire

NEW YORK, July 22, 2015

NEW YORK, July 22, 2015 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the completion of changes to the OTCQB® Venture Market introduced last May. More than 1,000 securities have been approved to trade on OTCQB under new, more stringent requirements that are designed to improve market quality for investors and establish a transparent U.S. public venture market.

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On May 1, 2014, OTC Markets Group introduced standards and eligibility requirements for companies to trade on OTCQB, including a minimum one penny bid price test and an annual verification and management certification process. Companies already traded on OTCQB as of May 1, 2014, had a choice of complying with the new standards within 120 days after their fiscal year-end date, choosing to qualify for the OTCQX® Best Market with high financial and disclosure standards and third-party sponsorship, or being downgraded to the OTC Pink® Open Market. June 30, 2015, was the last 120 day deadline for companies that traded on OTCQB prior to the introduction of the new standards.

"The introduction of our OTCQB standards and eligibility requirements has truly transformed OTCQB into a better regulated, more transparent, world-leading public venture market for developing companies," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "As of July 1, there are 960 companies traded on OTCQB with a median market capitalization of approximately $12.8 million. This compares favorably to the median market cap of $2.1 million for companies on Canada's TSX Venture Exchange.

"At the same time, we have removed more than 2,000 companies from OTCQB for failing to meet our OTCQB standards either because they did not pass our minimum bid price test, were delinquent in their financial filings, bankrupt, unwilling to provide background information about company officers, directors and shares outstanding or for another compliance reason. These companies have been downgraded to our OTC Pink market, where broker-dealers can place the appropriate risk controls and compliance restrictions around less transparent companies," said Mr. Coulson.


FSNR is one of the 960 companies