OT - FXPT news out about uplisting to AMEX. May be one to watch.
Fox Petroleum Announces Submission of AMEX Listing Application
Thursday 06/05/2008 9:00 AM ET - Businesswire
As of 1:23 PM ET 6/5/08
Fox Petroleum Inc (OTCBB:FXPT) is pleased to announce an update to the Company's application process for listing on the American Stock Exchange (or 'AMEX').
The transition to the AMEX requires a set of minimum standards and requirements that must be met before the application is accepted. Different standards are put in place depending on the size and market cap for each applicant company. In Fox's case, the process will likely stretch over an eight to twelve week period before receiving the listing decision. If the decision were positive, the listing would pull Fox away from trading on the OTC Bulletin Board ("OTCBB"), and offer the benefits of trading on a more firmly established exchange.
Notable benefits of the AMEX are improved liquidity, better access to capital markets, more stability in the trading platform and a dedicated specialist firm working in conjunction with the company who will handle all trades in the stock. Although Fox is pleased to have applied for listing, and believes it meets the listing standards, it is unable to offer any guarantee of success.
Richard Moore, Chief Executive Officer, said, "We believe that there are many benefits to listing on the AMEX. Historically, companies on this exchange can look forward to better recognition with investors, and gain liquidity in a more efficient market in which to trade. This efficiency leads to better price stability and more difficulty for traders to short the stock, all of which are benefits we want for our shareholders. We believe this will open up the company to more opportunities to raise significant capital. Fox is currently traveling upward, and listing on the AMEX will hopefully be another significant step in Fox's story."
Shareholders and prospective investors are encouraged to visit Fox Petroleum's website: www.foxpetro.com and download Fox Petroleum's Investor Summary. Please feel free to call investor relations toll-free at 1-888-369-4744 to receive a full corporate investor's package.
About Fox Petroleum
Fox Petroleum Inc. is an Independent Oil and Gas Exploration and Production Company headquartered in London, England, the financial capital of Europe, with a further operations office in Anchorage, Alaska. Fox is focused on exploration and production in the USA (Alaska's North Slope and Cook Inlet, Texas and Kansas), and also on the UK's North Sea. The Company's shares are publicly traded on the NASD OTC BB under the ticker symbol FXPT.
