Fox Petroleum Inc announced an update to the Company’s application process for listing on the American Stock Exchange.
The transition to the AMEX requires a set of minimum standards and requirements that must be met before the application is accepted. Different standards are put in place depending on the size and market cap for each applicant company. In Fox’s case, the process will likely stretch over an eight to twelve week period before receiving the listing decision. If the decision were positive, the listing would pull Fox away from trading on the OTC Bulletin Board, and offer the benefits of trading on a more firmly established exchange.
Notable benefits of the AMEX are improved liquidity, better access to capital markets, more stability in the trading platform and a dedicated specialist firm working in conjunction with the company who will handle all trades in the stock. Although Fox is pleased to have applied for listing, and believes it meets the listing standards, it is unable to offer any guarantee of success.
Chief Executive Officer, Richard Moore, said, "We believe that there are many benefits to listing on the AMEX. Historically, companies on this exchange can look forward to better recognition with investors, and gain liquidity in a more efficient market in which to trade. This efficiency leads to better price stability and more difficulty for traders to short the stock, all of which are benefits we want for our shareholders. We believe this will open up the company to more opportunities to raise significant capital. Fox is currently traveling upward, and listing on the AMEX will hopefully be another significant step in Fox’s story."
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