PANAMA CITY BEACH, Fla.,
Sept. 16, 2013 /PRNewswire/ -- Today,
JP Anderson, Ltd., subsidiary to Leone Asset Management, Inc.,
(Pink Sheets: SLOU) announced it would be developing the West
Africa Over the Counter Market System.
JP Anderson, Ltd., has formed a new subsidiary, West Africa OTC,
Ltd., that will operate the West Africa Over The Counter Market
System. The new entity will organize, assist and service the
small and emerging companies that are operating in the fast growing
markets within West Africa.
James Price, CEO of JP Anderson
stated, "To fully stimulate the economic growth of the region, we
need to start with the small business owner. Supplying him
with capital, managerial advice, support and the expansion tools
needed to fully execute his business plan will have a tremendous
impact on employment, skill training and economic growth. At
the same time, it is imperative to host a regulated marketplace
that is fully transparent, investor protective and possesses strict
listing and trading requirements."
Our research shows that the entire West African region has
thousands of companies that possess new and innovative products and
services. These companies, like companies that operate in
more developed markets, need access to capital for growth and
expansion. Assisting these small and emerging companies with
their growth plans will bring huge economic stimulation to their
local markets by creating jobs and encouraging foreign trade and
investment. In addition, we will seek to attract foreign
companies that desire to enter these markets with their products
and/or services and give them the support needed to list shares on
the WAOTC. As of now, foreign investors have limited access
to information about these companies or the ability to invest in
the companies that are appealing to them or fit into their
respective portfolios. This new initiative will provide the
gateway for investors, fund managers, investment banks and
broker/dealers all over the world to participate in the growth of
West Africa's emerging
markets.
Typically, companies sell their securities in public
marketplaces to raise capital, complete an acquisition or provide
liquidity for existing shareholders to exit their investments.
Qualified companies will be able to issue and sell shares in the
market pursuant to the WAOTC safe-harbor guidelines.
The WAOTC marketplace will represent West African public
companies that are traded off their local exchanges.
Companies must qualify for listing and be current in their
financial disclosure. Investors in the WAOTC marketplace can buy
and sell securities in a manner almost identical to that of trading
on other World Exchanges like the NYSE or NASDAQ. Investors
will have the ability to trade through the broker of their choice
(institutional, online, retail, etc.).
The WAOTC database will be a designated web portal www.waotc.org
where all listed OTC companies will be required to maintain
accurate and transparent corporate information for full investor
disclosure. Companies that do not follow the strict
guidelines will be penalized and investors will receive warnings
about inadequate or non-current disclosure.
The WAOTC Compliance division will regulate companies and
broker/dealers who list and trade on the WAOTC. The operation
of the portal and the system will follow all participating country
securities laws including licensing, listing requirements and
disclosure laws. It is our full intent to work within all
applicable guidelines of all securities laws while at the same time
assisting the countries in bolstering economies and providing
investor protection measures to insure trust and
transparency. Essentially, the WAOTC is being designed as a
stepping-stone for the smaller company to develop to the level that
they will be able to qualify and list on their local Country
Exchanges. This initiative will assist in increasing the size
and activities of each respective exchange.
To properly service the companies wishing to partner with and
list on the WAOTC, JP Anderson intends a rapid expansion throughout
the region. Currently, JP Anderson is headquartered in
Sierra Leone, has recently
incorporated in Ghana and has
plans to expand office locations and begin all necessary licensing
requirements in Gambia,
Guinea, Senegal, Liberia, and Mauritania before the end of 2013.
About Leone Asset Management
Leone Asset Management is Headquartered in Panama City Beach, FL. Sierra Leone subsidiary, Leone Asset
Management (SL) Ltd., operates as a Government contractor as well
as owning and operating a group of diversified subsidiaries that
provide financial advice on individual wealth management, mergers,
acquisitions, restructurings, financing, real estate and
development, and capital raises to a global client base including
individuals, corporations, partnerships, institutions and
governments. For additional information, visit:
www.leoneasset.com
About JP Anderson
Headquartered in Freetown Sierra
Leone, JP Anderson (SL), Ltd., intends to be the World's
premier boutique investment banking, securities and investment
management firm focused on providing financial advice on individual
wealth management, mergers, acquisitions, restructurings, financing
and capital raises to a global client base including individuals,
corporations, partnerships, institutions and governments.
Currently, JP Anderson has office locations in Sierra Leone, Norway and Sri Lanka. For additional
information, visit: www.jpawealth.com
Forward-Looking Statements Disclosure:
This press release may contain "forward-looking statements"
within the meaning of the federal securities laws. In this context,
forward looking statements may address the Company's expected
future business and financial performance, and often contain words
such as "anticipates," "believes," "estimates," "expects,"
"intends," "plans," "seeks," "will" and other terms with similar
meaning. These forward-looking statements by their nature address
matters that are, to different degrees, uncertain. Although the
Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can provide
no assurances that these assumptions will prove to be correct. All
forward-looking statements in this press release are expressly
qualified by such cautionary statements, risk, and uncertainties,
and by reference to the underlying assumptions.
SOURCE JP Anderson