SALT LAKE CITY, March 3, 2011 /PRNewswire/ -- America West Resources, Inc. (OTCQB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today commented on the shift in the Company's stock quotation coverage which recently transitioned from the OTC Bulletin Board to the OTCQB under the symbol "AWSR." The shift in coverage to the OTCQB was caused by an unexpected migration of the Company's market makers away from the OTCBB, and does not affect, nor is it a reflection upon, America West Resources' business, operations or growth prospects.
The OTCQB is one of three tiers established by OTC Markets Group, Inc., which operates one of the world's largest electronic interdealer quotation systems for broker-dealers to trade securities not listed on a national exchange. The OTCQB designation is meant to identify companies that are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations.
Dan Baker, Chief Executive Officer of America West, stated, "We have been told by several of our market makers that there is no technical difference between an OTCBB listed security and a fully reporting issuer trading on the OTCQB. Therefore, until such time as we meet the criteria to qualify for listing on the Nasdaq or American Stock Exchange, our common stock will be quoted on the OTCQB, which can be viewed at www.otcmarkets.com."
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to utility companies and industrial customers in the western U.S., China and Europe. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. For more information, please visit www.americacoal.com.
This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
ELITE FINANCIAL COMMUNICATIONS GROUP
Dodi B. Handy, President & CEO (Twitter: dodihandy)
Or Kathy Addison, COO (Twitter: kathyaddison)
407-585-1080 or via email at AWSR@efcg.net
SOURCE America West Resources, Inc.