Carbon Energy Ltd. Joins OTCQX
NEW YORK, June 24, 2011 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks, today announced that Carbon Energy Ltd. (ASX: CNX; OTCQX: CNXAY), a company focused on producing clean energy and chemicals feedstock, has chosen to have its American Depositary Receipts (ADRs) traded on the highest tier of the OTC market, OTCQXÃ‚®.
Carbon Energy began trading today on the OTC market’s prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
“Investors prefer the quality-controlled admission process on OTCQX which identifies the segment of OTC companies focused on valuation and transparency,” said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. “We are pleased to welcome Carbon Energy to OTCQX.”
Madison Williams and Company will serve as Carbon Energy’s Principal American Liaison (“PAL”) on OTCQX, responsible for providing guidance on OTCQX requirements.
About Carbon Energy Ltd.
Carbon Energy Ltd. (ASX: CNX; OTCQX: CNXAY) trades in the United States on OTCQX under the symbol “CNXAY”, where each ADR represents 20 ordinary shares. Carbon Energy focuses on producing clean energy and chemicals feedstock from Underground Coal Gasification (UCG) Syngas. UCG is an alternative coal mining method that accesses the coal through boreholes and recovers the coal transformed into a gas. The company was formerly known as Metex Resources Ltd and changed its name to Carbon Energy Limited in July 2008. Carbon Energy Limited is headquartered in Milton, Australia.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link(TM) platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. We categorize the wide spectrum of OTC-traded companies into three tiers – OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQBÃ‚® (the U.S. reporting company marketplace for development stage companies), and OTC Pink(TM) (the speculative trading marketplace) – so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.
SOURCE OTC Markets Group Inc.