HOUSTON, June 28, 2018 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Company”) (TSX:EPS) is pleased to announce that the proposal to relocate the company from Canada to the US (domestication) passed (99.99%) based on the votes that were cast. Additionally, the proposal for the new US compliant Equity Compensation Plan passed (99.89%).
We appreciate the overwhelming support of the shareholders in providing the opportunity to better access the US capital markets. While the Company has elected not to pursue the domestication at this time due to uncertainties in tax treatment, we intend as soon as practicable to register the Company’s shares for trading in the United States. In the meantime, shareholders will still be able to buy and sell Epsilon stock on the TSX.
In addition to the registration activity, the Company has expended considerable attention to the planning and development of the previously announced land acquisitions in the Anadarko Basin. We believe this asset is situated in a highly prospective area which when developed will see Epsilon producing a more valuable liquids rich product stream as compared to dry gas sales alone. Epsilon believes it is in a strong capital position to take advantage of opportunities both in the Marcellus and in the Anadarko Basin.
In the coming months, alongside achieving the U.S registration, Epsilon will continue to update the market on its capital expenditure plans in both areas with more detailed plans for the growth of Epsilon Energy. In conjunction with the intention to access U.S. capital markets, Epsilon intends to increase investor awareness of the Company.
Epsilon Energy Ltd. is a North American onshore natural gas production and midstream company with a current focus on the Marcellus Shale of Pennsylvania and the Anadarko Basin in Oklahoma.
Chief Executive Officer
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