CALGARY, ALBERTA--(Marketwire - June 7, 2012) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX VENTURE:PPY.A) is pleased to announce details regarding the re-designation of its Class A Shares into common shares ("Common Shares") (the "Re-designation") and the change of its stock symbol on the TSX Venture Exchange (the "TSXV") from "PPY.A" to "PPY". The Re-designation was approved by the shareholders at Painted Pony's annual and special meeting of shareholders held on June 6, 2012. The Re-designation will not result in any substantive change to the existing rights, privileges, restrictions or conditions attached to the Class A Shares.
Painted Pony filed articles of amendment effecting the Re-designation as of June 7, 2012. Accordingly, share certificates representing Class A Shares will be deemed for all purposes to represent Common Shares instead, and registered holders of Class A Shares will automatically become registered holders of an equivalent number of Common Shares. Accordingly, no new share certificates will be issued in respect of the Common Shares. However, if so desired, each registered shareholder holding Class A Shares shall be entitled to exchange such holder's certificates formerly representing Class A Shares for new certificates representing Common Shares upon delivering such holder's existing share certificates to the Company's transfer agent, Olympia Trust Company ("Olympia"), at its principal office in Calgary, Alberta, along with such other documents as Olympia may require.
The Common Shares are expected to commence trading on the TSXV under the new symbol "PPY" at the opening of markets on Monday, June 11, 2012.
Painted Pony would like to welcome Kelly Drader, B. Comm., C.A., to its Board of Directors. Mr. Drader was elected as a director at the Company's annual and special meeting of shareholders held on June 6, 2012.
Mr. Drader has over 25 years of experience in financial management, oil & gas acquisitions, investment analysis, and income tax in the oil and gas industry. Mr. Drader has been the Chief Executive Officer of Longview Oil Corp. and the Chief Financial Officer of Advantage Oil & Gas Ltd. ("Advantage") since April 14, 2011. Mr. Drader joined Advantage in May 2001 as Chief Executive Officer. Mr. Drader joined The Enerplus Group of Companies in November 1987, which specialize in the management of oil and gas income funds and royalty trusts, serving as Vice President, Finance and CFO for 10 years before being promoted to Senior Vice President in 1997. Mr. Drader was in public practice with Touche Ross & Co., in Calgary prior to 1985, specializing in oil and gas auditing for four years and oil and gas taxation for two years.
Painted Pony Petroleum Ltd. was recognized as a TSX Venture 50® Company in 2012. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
Special Note Regarding Forward-Looking Information
Certain information regarding Painted Pony set forth in this document, including the anticipated date upon which the Common Shares will commence trading on the TSXV under the new stock symbol "PPY" constitute forward-looking statements under applicable securities laws and necessarily involve substantial known and unknown risks and uncertainties These statements are based on numerous assumptions including assumptions regarding the date upon which Painted Pony receives final approval from the TSXV for the Re-designation and the change of stock symbol. The reader is cautioned that certain or all of the forgoing assumptions may prove to be incorrect.
These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Painted Pony's control. Painted Pony's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.