NEW YORK, Jan. 23, 2014 /PRNewswire/ -- OTC Markets
Group Inc. (OTCQX: OTCM), operator of Open, Transparent and
Connected financial marketplaces, today announced that Maverick
Drilling & Exploration Ltd. (OTCQX: MRVKY; ASX: MAD), an
Australian Securities Exchange (ASX)-listed onshore U.S. focused
independent oil company, has chosen to have its American Depositary
Receipts (ADRs) trade on OTCQX®, the best marketplace with
qualified companies.
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Maverick begins trading today on OTCQX International, a segment
of the OTCQX marketplace reserved for high-quality non-U.S.
companies that are listed on a qualified international exchange and
provide their home country disclosure to U.S. investors. U.S.
investors can find current financial disclosures and Real-Time
Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased Maverick has joined the OTCQX marketplace," said
R. Cromwell Coulson, President and
CEO of OTC Markets Group. "More than 30 ASX-listed companies
have chosen to have their ADRs traded on OTCQX, demonstrating the
value Australian and other international stock-exchange-listed
companies experience in making their information and trading more
widely available to investors in the U.S. We look forward to
working with Maverick's management team as they continue to expand
the company's presence in the U.S. market."
J. Michael Yeager, Maverick's
Chairman and CEO, stated, "This is an important step for Maverick.
The ADR program will greatly assist in diversifying our shareholder
base into the United States from
our already strong support in Australia on the ASX."
Merriman Capital, Inc. serves as Maverick's Principal American
Liaison ("PAL") on OTCQX, responsible for providing professional
guidance on OTCQX requirements.
Maverick is an ASX-listed onshore U.S. focused independent oil
company. Existing oil production and reserves development are
focused on the drilling of low cost, high margin oil. Maverick's
main assets are large acreage positions with majority ownership
over parts of the Blue Ridge,
Nash and Boling fields, which are proven producing oil
fields located south of Houston,
Texas in the United
States.
Maverick will trade in the U.S. on OTCQX under the symbol
"MRVKY," where each ADR represents 15 ordinary shares.
About OTC Markets Group Inc.
OTC Markets Group Inc.
(OTCQX: OTCM) operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. Through our OTC
Link® ATS, we directly link a diverse network of broker-dealers
that provide liquidity and execution services for a wide spectrum
of securities. We organize these securities into marketplaces to
better inform investors of opportunities and risks – OTCQX®, The
Best Marketplace with Qualified Companies; OTCQB®, The Venture
Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The
Open Marketplace with Variable Reporting Companies. Our data-driven
platform enables investors to easily trade through the broker of
their choice at the best possible price and empowers a broad range
of companies to improve the quality and availability of information
for their investors. To learn more about how we create better
informed and more efficient financial marketplaces, visit
www.otcmarkets.com.
OTC Link® ATS is operated by OTC Link LLC, member FINRA/SIPC and
SEC regulated ATS.
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SOURCE OTC Markets Group Inc.