Tethys Petroleum: Trading Halt Lifted and Trading to Resume
Grand Cayman, Cayman Islands--(Newsfile Corp. - March 28, 2019) - Tethys Petroleum Limited (TSXV: TPL.H) ("Tethys" or the "Company") today announces that trading in the Company's Ordinary Shares ("Ordinary Shares") on the NEX Board of the TSX Venture Exchange ("NEX") is expected to resume at the opening of the market on Thursday March 28, 2019, or soon thereafter.
A temporary trading halt was requested by NEX following the Company's announcement on March 19, 2019 of the signing of a binding arrangement agreement for the acquisition of control of the Company (the "Proposed Transaction") by Jaka Partners FZC ("Acquiror"). The NEX requested further information from the Company about the Proposed Transaction and Personal Information Forms for the Insiders of Acquiror, both of which have been provided, and the NEX has notified the Company that trading in the Company's ordinary shares can now resume.
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
Some of the statements in this document are forward-looking. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements. Such statements include statements regarding the resumption of trading in the Ordinary Shares, closing of Proposed Transaction, and continued listing of the Ordinary Shares on the NEX and approval of the Proposed Transaction. No assurance can be made that trading in the Ordinary Shares will resume, the Proposed Transaction will be approved, or if approved that the Ordinary Shares will continue to be listed on the NEX. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
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