Calgary, AB / ACCESSWIRE / May 7, 2014 / Transeuro Energy Corp. ("Transeuro" or the "Company") announces that the Alberta Securities Commission has issued a Cease Trade Order on the Company for failing to file Annual Audited Financial Statements at the end of April as required. The Company's shares have been halted on the TSXV and trading will not be reinstated until the Company has filed the required annual documents. The Oslo Stock Exchange has advised the Company that normal trading will continue on the OSE and they will assess the situation again at the beginning of June by which time the Company will need to file first quarter accounts.
ABOUT THE COMPANY
Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company owns 100% of a gas property located in British Columbia, Canada, has interest in gas exploration and appraisal developments in Crimea, Ukraine and has an oilfield redevelopment project in Jordan.
On behalf of the Board of Directors
Aage Thoen, Chairman
For further information contact: Darren Moulds, IR, +1 403 705 1919
http://www.transeuroenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Oslo Axess accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.
This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to our operations, the use of funds drawn down under the SPA, the sale by Yorkville of the Implementation Shares after four months and the expectation of the Company to issue further shares to Yorkville on an as-needed basis pursuant to the terms of the SPA,. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including the future trading price and volume of the Company's shares . See our Annual Information Form for a description of risks and uncertainties relevant to our business, including our exploration and development activities.
SOURCE: Transeuro Energy Corp.