There really are no requirements for submitting PR's to anyone down here in the Pinks where ONCI resides...
From a investment standpoint, yes it'd better when the company is reporting. Here in the wild west of the OTC, just about anything goes..
Yes, fully reporting companies are required to report significant events in the company via an 8-K filing on EDGAR, the actual filing of which is free to the registered company. They may incur legal and other costs to prepare the filing. Most PR's from reporting companies cover significant events and will normally be filed as an exhibit in an 8-K.
Down here in the OTC, "We don't need no stinkin' rules..."