Merriman Capital Announces Sponsorship of Carbon Energy Limited on OTCQX
SAN FRANCISCO, Jan. 18, 2012 /PRNewswire/ — Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR), today announced that it will serve as the new Principal American Liaison (PAL) for Carbon Energy Limited (OTCQX: CNXAY; ASX: CNX), sponsoring the Company’s American Depositary Receipts (ADRs) on OTCQX(®).
Carbon Energy is a world leader in advanced coal technology. The Company’s business is transforming stranded coal resources into high-value fuels with lower carbon emissions to meet the increasing global demand for new, low cost, alternative energy sources. The Company announced today that Merriman Capital is now sponsoring the trading of its ADRs, each representing 20 ordinary shares, on the OTC market’s highest tier, OTCQX.
OTCQX distinguishes the best companies traded over-the-counter (OTC) from more than 9,000 securities traded on the OTCBB and OTC Link that are not required to meet any financial standards or undergo a qualitative review.
Spencer Grimes, Head of the Capital Markets Advisory Group at Merriman Capital, said: “We are excited to serve as Carbon Energy’s PAL on OTCQX. Carbon Energy’s underground coal gasification technology could help tap a significant new source of clean energy, and we look forward to partnering with the Company in its outreach to U.S. investors.”
Carbon Energy Managing Director, Andrew Dash, said: “Carbon Energy’s quotation on OTCQX should provide the Company with more exposure to U.S. investors. We are looking forward to working with Merriman Capital, which we have retained to provide a suite of services including the PAL compliance function.”
About Merriman Capital, Inc.
Merriman Capital, Inc. is an investment banking firm providing equity and options execution services, market making, and differentiated research for high growth companies. We also provide capital raising, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR) and is the leading investment banking firm for OTCQX companies. For more information, please go to http://www.merrimanco.com/.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/contact.cfm.
About Carbon Energy Limited
Carbon Energy is a world leader in advanced coal technology. The Company’s business is transforming stranded coal resources into high-value fuels with lower carbon emissions to meet the increasing global demand for new, low cost, alternative energy sources.
Carbon Energy is headquartered in Brisbane, Australia and listed on the Australian Securities Exchange (ASX). The Company also has an office in New York and is quoted on OTCQX International (CNXAY).
The Company’s proprietary technology, keyseam® is an innovation in underground coal gasification (UCG), incorporating a unique site selection methodology and advanced geological and hydrological modeling. Keyseam® maximizes resource efficiency, extracting up to 20 times more energy from the same resource than coal seam gas, while minimizing surface disturbance and preserving groundwater quality.
Carbon Energy’s technological advantage comes from its association with Australia’s premier research agency, CSIRO, which includes world-class geotechnical, hydrological and gasification modeling capabilities.
Carbon Energy is building an international portfolio of coal assets suitable for keyseam® and accessible to high-value markets. The Company has resources and rights to coal assets in projects across Australia, Chile, United States and Turkey.
The OTCQX marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX companies, visit www.otcqx.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 28, 2011 and our Form 10-Q filed on November14, 2011. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 28, 2011 and 10-Q filed on November 14, 2011, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on “Investor Relations.”
SOURCE Merriman Holdings, Inc.