NEW YORK, May 11, 2012 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), the company that operates the world's largest electronic marketplace for OTC-traded equities, today announced that Underground Energy Corporation (OTCQX: UGGYF; TSX.V: UGE), a company focused on developing and producing oil reserves from shale formations, is now trading on the highest tier of the OTC market, OTCQX®.
Underground Energy began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
"The OTCQX platform supports a transparent marketplace with high quality issuers, financial information disclosure and efficient trading for U.S. investors," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Underground Energy to OTCQX."
Global Hunter Securities will serve as Underground Energy's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws.
About Underground Energy Corporation
Underground Energy Corporation (OTCQX: UGGYF; TSX.V: UGE) of Santa Barbara, California trades in the United States on OTCQX under the symbol "UGGYF", and in Canada on the TSX Venture Exchange under the symbol "UGE". Underground Energy's primary focus is to identify, acquire rights to, explore for, develop and produce oil reserves from shale formations principally in the Western US. Underground Energy focuses on identifying and acquiring sizable land positions and prospects in historically prolific but under-explored shale formations and in emerging shale plays that hold large volumes of oil and gas resources. The company has petroleum leases on 68,524 net acres in California and Nevada.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest OTC marketplace for equity securities. Our OTC Link® trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services. We organize the wide spectrum of OTC-traded equity securities into three marketplaces to inform investors of opportunities and risks - OTCQX - The Intelligent Marketplace for the Best OTC Companies; OTCQB® - The Venture Marketplace; and OTC Pink® - The Open Marketplace. Our information-driven platform makes it easy for investors to trade at the best price through the broker of their choice and empowers companies to build the best markets for their investors. To learn more about our Open, Transparent, and Connected marketplace, visit www.otcmarkets.com.
SOURCE OTC Markets Group Inc.