PetroNova Retains Market-Making Services
July 02 2012 - 4:46AM
PR Newswire (Canada)
CALGARY, July 4, 2012 /CNW/ - PetroNova Inc. ("PetroNova" or the
"Company") , a company engaged in the exploration and development
of oil and natural gas resources in Colombia, today announced that
it has, subject to regulatory approval, retained Venture Liquidity
Providers Inc. (VLP) to initiate its market-making service to
provide assistance in maintaining an orderly trading market for the
common shares of the company. The market-making service will be
undertaken by VLP through a registered broker, W.D. Latimer Co.
Ltd., in compliance with the applicable policies of the TSX-V and
other applicable laws. For its services, the corporation has
agreed to pay VLP $5,000 per month for a period of 12 months. The
agreement may be terminated at any time by the corporation or VLP.
The corporation and VLP act at arm's length, and VLP has no present
interest, directly or indirectly, in the corporation or its
securities. The funds and the shares required for the market
making are provided by W.D. Latimer. The fee paid by the company to
VLP is for services only. VLP is a specialized consulting firm
based in Toronto providing a variety of services focused on
TSX-V-listed issuers. About PetroNova: The Company, through its
subsidiaries, is engaged in the exploration for, and the
acquisition and development of, oil and natural gas resources in
South America, specifically in Colombia. The Company's assets
currently include the Company's interests in the PUT-2 and Tinigua
Blocks located in the Caguan-Putumayo Basin in Colombia, both of
which are operated by the Company, and the non-operated CPO-06,
CPO-07 and CPO-13 Blocks located in the Llanos Basin in Colombia.
The common shares of the Company trade on the TSX Venture Exchange
under the stock symbol "PNA". Neither the 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 release. PetroNova Inc. CONTACT:
Antonio VincentelliPresident & Chief Executive Officer 954 317
3990antonio.vincentelli@petronova.comAbby GarfunkelInvestor
Relations403-218-2887agarfunkel@equicomgroup.comStelvio Di
CeccoChief FinancialOfficer954 317
3990stelvio.dicecco@petronova.com
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