Cracker:
Here is the release:
Friday July 23, 12:17 pm Eastern Time
Company Press Release
SOURCE: Tracer Petroleum Corporation
Tracer Reports on Status of Nasdaq Listing
CALGARY, Alberta, July 23 /PRNewswire/ -- The following is released
on behalf of the board by Tracer Petroleum Corporation (Nasdaq: TCXXF - news; Vancouver:
TPC - news) President and C.E.O. David R. Robinson:
TRACER PETROLEUM CORPORATION (''Tracer'' or the ''Company'') reports that it has
received notification from Nasdaq approving the Company's request for an oral hearing
regarding the status of Tracer's continued listing on the Nasdaq Small Cap market. The
hearing date has been set for August 26, 1999. In the interim, Nasdaq has stayed the delisting
of the Company's shares as a result of failing to comply with the bid price requirement. In
addition to demonstrating its ability to regain compliance with the minimum bid price
requirement, Tracer will be required to demonstrate its ability to sustain long term
compliance with all applicable maintenance criteria.
This release contains ''forward looking statements'' as per Section 21E of the US Securities
and Exchange Act of 1934, as amended. Although the Company believes that the expectations
reflected in such forward looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Management is currently reviewing many options
and there is no assurance that they will not make decisions other than those now
contemplated. The Company is subject to political risks and operational risks identified in
documents filed with the Securities and Exchange Commission, including changing and
depressed oil prices, unsuccessful drilling results, change of government and political unrest in
its main area of operations.
The Vancouver Stock Exchange has neither approved nor disapproved the content of this
release.
CONTACT: David Harrison, Corporate Secretary of Tracer Petroleum Corporation,
403-290-1676.
SOURCE: Tracer Petroleum Corporation
Jim |
