SEATTLE, Dec. 22, 2010 /PRNewswire-FirstCall/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, today announced that it has been named to The NASDAQ Global Select Market. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on market value and financial requirements. Shares of L&L Energy common stock will begin trading on the NASDAQ Global Select Market on January 3, 2011.
Prior to the change, shares of L&L Energy common stock were traded on the NASDAQ Global Market. Currently, NASDAQ-listed companies are classified under three listing tiers - NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. Inclusion in this Market is the most stringent of the three categories, and a mark of achievement with qualification measures including market value, liquidity and earnings.
"We are proud to have qualified for the NASDAQ Global Select Market," said Dickson Lee, Chairman and CEO of L&L Energy. "This move is a significant milestone of our progress and indicative of our commitment to generating value for our shareholders. We believe inclusion in this top tier of companies reflects our commitment to accretive growth and vision to become a global coal company."
About L & L Energy
L & L Energy (Nasdaq: LLEN) was founded in 1995, is headquartered in Seattle, and is engaged in coal mining, washing, coking and distribution in Yunnan and Guizhou Provinces and is expanding its coal operations in the U.S. with the Bowie Mine in Colorado. The Company has additional offices in Kunming, Shenzhen, Guangzhou, Hong Kong, and Taipei and produces thermal and metallurgical coals. During the fiscal year ended April 30, 2010, the Company achieved impressive revenue growth of 167% and net income growth of 230% over the previous fiscal year. In June 2010, L & L's stock was added to the Russell 3000® Index. For more information, see www.llenergyinc.com.
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SOURCE L & L Energy, Inc.