Merriman Capital Announces Sponsorship of Colombia Energy Resources on OTCQX

SAN FRANCISCO, Nov. 7, 2011 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR), today announced that it will serve as the Designated Advisor for Disclosure (DAD) for Colombia Energy Resources Inc. (OTCQX: CERX) as it begins trading on OTCQX^®.  

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Colombia Energy Resources is exploring coal deposits and developing coal mines at Company controlled mining concessions along with developing coal coking operations, utilizing advanced technologies, in the Republic of Colombia.  The Company announced today that it is now trading on the OTC market's highest tier, OTCQX.    

OTCQX distinguishes the best companies traded over-the-counter (OTC) from more than 9,000 securities traded on the OTCBB and OTC Link that are not required to meet any financial standards or undergo a qualitative review.

Spencer Grimes, Head of Capital Markets Services at Merriman Capital, stated: "As Colombia Energy Resources develops its metallurgical coal assets in Colombia, it is well positioned to benefit from continued global demand for coal. Joining OTCQX today is an important step in increasing the Company's visibility with investors, and we look forward to helping them with this effort."

About Merriman Capital, Inc.

Merriman Capital, Inc. is an investment banking firm providing equity and options execution services, market making, and differentiated research for high growth companies.  We also provide capital raising, advisory and M&A services.  Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR) and is the leading investment banking firm for OTCQX companies.  For more information, please go to http://www.merrimanco.com/.

Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC).

About Colombia Energy Resources Inc.

Colombia Energy Resources Inc. (OTCQX: CERX) is exploring coal deposits and developing coal mines at Company controlled mining concessions along with developing coal coking operations, utilizing advanced technologies, in the Republic of Colombia.  The Company currently controls 9 mining concessions underlying 25,000 acres of land.  The Republic of Colombia is the world's tenth largest producer and sixth largest exporter of coal.  It also has the largest reserve base in South America with an estimated 7 billion metric tons ("MT") of recoverable reserves and 17 billion MT of potential reserves.

Colombia Energy Resources is focused on metallurgical coal exploration and development activities.  

The Company plans to import international mining best practices and proven, advanced and environmentally friendly coke processing technologies to Colombia as it becomes a leading consolidator in the Colombian metallurgical coal market. The Company's team of executives, advisors and partners is comprised of experienced entrepreneurs and business professionals in the United States and Colombia with a breadth of experience in coal mining and clean coal technologies as well as substantial industry relationships.

For more information, visit www.ColombiaEnergyResources.com.

About OTCQX

The OTCQX marketplace is the premier tier of the U.S. OTC market.  Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers.  The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange.  For more information and to view a full list of OTCQX companies, visit www.otcqx.com.

Note to Investors

This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 28, 2011 and our Form 10-Q filed on August 15, 2011. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 28, 2011 and 10-Q filed on August 15, 2011, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."

SOURCE Merriman Holdings, Inc.