Patch now listed & trading on Frankfurt Exchange
Friday August 18, 5:00 am ET
VANCOUVER, Aug. 18 /PRNewswire-FirstCall/ - Patch International Inc. ("PTCH") ("Company") (PTCH: OTCBB) announces Patch International Inc. has been notified by the Frankfurt Stock Exchange that it has been listed and is now trading under the symbol PQGB. Patch International Inc. anticipates that this listing will facilitate and grow Patch's brand name throughout the European community.
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John Thornton, president of Patch International Inc., stated: "Having this new listing on the Frankfurt exchange potentially opens up Patch International Inc. to a vast new base of private and institutional European investors. The Frankfurt exchange is one of the most widely respected exchanges in Europe".
ABOUT PATCH INTERNATIONAL
PTCH is a "junior" oil and gas company that currently earns oil revenue from a small participation interest in 20 oil wells. These wells provide the company with some short and long-term cash flow. PTCH has drill programs planned on five properties in Alberta, Canada scheduled for 2006. PTCH also has oil sands properties in the heart of the Alberta Oil Sands, owned through its majority ownership of Patch Oilsands Limited Partnership, on which it plans a limited work program in 2006. As at February 28, 2006 PTCH still owned nearly 7.3 million Pharmaxis shares, having sold some 3.9 million shares to February 28, 2006 for approximate gross proceeds before tax of $6,200,000. It is the company's intention to complete the sale of it's remaining Pharmaxis shares and use 50% of those net proceeds after tax to complete the Company's 2006 oil and gas program; PTCH has also proposed to pay a dividend of 50% of the net proceeds of it's total Pharmaxis sale proceeds after taxes and costs, to shareholders of record as at July 30, 2004, subject to regulatory approval.
For further information visit our corporate website at www.patchinternational.com.
If you are not currently on the PTCH updates list, please send in your email to info@patchinternational.com or call 888-864-7372 with the best way to keep you informed. We will send out regular updates and news releases to everyone who asks to be on the list.
The foregoing communication contains forward-looking statements. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Patch International Inc. may differ materially from these statements due to a number of factors. Patch International Inc. assumes no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before you make investment decision.
CONTACT: Investor Relations, Tel: 888-864-7372, Fax: (604) 688-5390, Email: info@patchinternational.com, CEOcast, Tel: (212) 732-4300
