US Oil & Gas (GXG:USOP) has reassured its shareholders it is seeking to transfer its listing to a fully regulated exchange.
The company’s shares are currently listed on the GXG market, and it had been expected that the listing would transfer seamlessly over to The Channel Islands Securities Exchange Limited (CISE) this month as a result of the sale of GXG Markets to CISE; that proposed sale fell through at the end of last month, leaving US Oil & Gas with a pressing need to make alternative arrangements.
The Nevada-focused firm informed shareholders that, while it is pulling out all of the stops to seek a listing on an alternative regulated exchange, such a move requires a considerable amount of effort on the part of the company, including the preparation of audited interim accounts, which may take some time to complete.
In the meantime, the company is exploring the option of listing on other trading platforms to provide continuity.