CALGARY, AB, June 15, 2020 /PRNewswire/ - OBSIDIAN ENERGY LTD.
(TSX: OBE) (OTCQB: OBELF) ("Obsidian Energy", the
"Company", "we", "us" or "our") is
pleased to announce that our common shares will commence trading on
the OTCQX market on June 16, 2020,
under the same symbol it is currently trading (OBELF).
Obsidian Energy's share price on the OTCQB has traded over
US$0.25 per share for 30 consecutive
days, and as a result, we are moving to the OTCQX Best Market,
which is the highest market tier operated by the OTC Markets
Group, Inc. The OTCQX Best Market requires companies to meet high
financial standards, follow best practice corporate governance and
demonstrate compliance with US securities law within the OTC
Markets for investors.
The transition within the OTC Markets will not affect the
Company's business operations or our current Securities and
Exchange Commission reporting obligations and does not conflict
with or cause an event of default under any of the Company's
material debt or other agreements. Obsidian Energy will continue to
trade on the Toronto Stock Exchange under the symbol OBE.
Forward-Looking Statements
Certain statements contained in this document constitute
forward-looking statements or information (collectively
"forward-looking statements") within the meaning of the "safe
harbor" provisions of applicable securities legislation.
Forward-looking statements are typically identified by words such
as "anticipate", "continue", "estimate", "expect", "forecast",
"budget", "may", "will", "project", "could", "plan", "intend",
"should", "believe", "outlook", "objective", "aim", "potential",
"target", "pursue" and similar words suggesting future events or
future performance. In particular, this document contains
forward-looking statements pertaining to, without limitation, that
the Common Shares will commence trading on the OTCQX on
June 16, 2020 under the same symbol
it is currently trading under of OBELF and will continue trading on
the Toronto Stock Exchange under the symbol OBE; and that the
transition on the OTC markets will not affect the Company's
business operations or our current Securities and Exchange
Commission reporting obligations and does not conflict with or
cause an event of default under any of the Company's material debt
or other agreements.
Although we believe that the expectations reflected in the
forward-looking statements contained in this document, and the
assumptions on which such forward-looking statements are made, are
reasonable, there can be no assurance that such expectations and
assumptions will prove to be correct. Readers are cautioned not to
place undue reliance on forward-looking statements included in this
document, as there can be no assurance that the plans, intentions
or expectations upon which the forward-looking statements are based
will occur. By their nature, forward-looking statements involve
numerous assumptions, known and unknown risks and uncertainties
that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur,
which may cause our actual performance and financial results in
future periods to differ materially from any estimates or
projections of future performance or results expressed or implied
by such forward-looking statements. Important factors that could
cause actual results and events to differ from those described in
the forward–looking statements can be found in our public filings
(including our Annual Information Form) available in Canada at www.sedar.com and in
the United States at www.sec.gov.
Readers are cautioned that this list of risk factors should not be
construed as exhaustive.
The forward-looking statements contained in this document speak
only as of the date of this document. Except as expressly required
by applicable securities laws, we do not undertake any obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The forward-looking statements contained in this document are
expressly qualified by this cautionary statement.
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SOURCE Obsidian Energy Ltd.
