BILLINGS, MT--(Marketwire - Jan 9, 2012) - UnionTown Energy Inc. (OTCBB: UTOG) (PINKSHEETS: UTOG) is pleased to announce that it has commenced negotiations and procedures to list its shares on a major European Stock Exchange.
The goal of this move by UnionTown Energy is to build up its international presence with access to new markets and access to development capital.
The Company anticipates that by carrying out a dual listing of its securities in Europe, UnionTown Energy will gain a wide range of benefits, including:
- Access to some of the world's largest and deepest pools of capital for investment;
- A quotation on one of the most liquid capital markets;
- A higher international profile among Europe's investment analysts specializing in the oil & gas sectors;
- Promotion of the Company's image and brand on an international scale;
- Opportunities for developing European based assets.
Patrick Smyth, Vice President of Finance commented, "The Company thanks all of its stakeholders for their support during the recent months. We are excited to establish ourselves in the European marketplace, which we believe to be better positioned for access to capital with a level of maturity that will drive our operations and brand internationally."
The Company intends to dual list and provide shares in the newly listed public entity to all of its current shareholders. Shareholders will also retain their shares in the American listed Company currently trading as UTOG. UnionTown expects the transaction to take place within the next 60 days. Details will follow on the issuance of the new shares.
About UnionTown Energy Inc.
UnionTown Energy Inc. is a fully reporting, exploration-stage company that is building towards becoming an oil and gas producer. We are proudly engaged in the acquisition and exploration of oil and natural gas properties located within America's borders. For more information about our company, please visit www.UnionTownEnergy.com.
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. These forward-looking statements involve risks and uncertainties that include, among others, fluctuations in natural gas and crude oil prices; the timely receipt of necessary permits and approvals; market demand for, and/or available supplies of, energy-related products and services; unanticipated project delays, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. You should carefully review the information disclosed within the section entitled "Risk Factors" contained in the Company's Current Report on Form 10Q/A filed on September 23, 2011, as well as the information contained in this release, when assessing the Company and its business. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.