Contact Information: CONTACT: Native American Energy Group, Inc. Richard Ross Chief Communications Officer (718) 408-2323
NAEG Advances to Current Information Tier on Pink Sheets
| Quelle: Native American Energy Group
FOREST HILLS, NY--(Marketwire - February 9, 2010) - Native American Energy Group, Inc. ("NAEG"
or the "Company") (PINKSHEETS : NAGP ) reported today that the OTC Pink
Sheets has upgraded the Company from its No Information Tier to Current
Information Tier. All current and potential shareholders will now have
access to the Company's Initial Company Information and Disclosure
Statement, as well as related financial documents that were required to
achieve Current Information Status with Pink OTC Markets, Inc.
Pink Sheets Current Information companies are required to submit filings to
Pink Sheet regulators on a quarterly and annual basis. Securities of Pink
Sheet companies that traded in 2009 who have provided current disclosure to
the public markets, either through a regulator or directly to Pink OTC
Markets, represented over 80% of all the dollar volume according to Pink
OTC Markets.
Pink OTC Markets, Inc. provides inter-dealer electronic quotation and
trading system in the over-the-counter (OTC) securities market. Pink OTC
Markets operates the third largest U.S. equity trading venue, which
requires strong standards for companies that fall under the Pink Sheets
Current Information banner. The Current Information tier is for stronger
OTC-traded companies that can satisfy financial and disclosure listing
standards. Pink OTC Markets offers widespread access to all U.S.
broker-dealers, enabling investors to seamlessly trade these securities
through their institutional, online, or full-service brokers.
Joseph D'Arrigo, CEO of Native American Energy Group, expressed confidence
in reaching the Company's strategic goals. Mr. D'Arrigo stated, "We are
proud to have achieved a liquid public market for the Company's shares.
NAEG is the first and only Pink Sheet Company to re-establish a bona-fide
public status and resume trading from among the 'Original 26' companies
that were de-listed to the Grey Market in March 2008. Being cleared for
trading under the Company's new symbol, NAGP.PK, on the OTC Pink Sheets was
a significant step for Native American Energy Group and its stockholders as
it will provide greater outside investment opportunity for the Company.
This coupled with the achievement of 'Current Information Status' puts the
company back on track to achieve its goals. More information will be
released in short order regarding the Company's latest advancements."
About Native American Energy Group, Inc. (PINKSHEETS : NAGP )
New York-based Native American Energy Group is an independent, energy
resource development and management company that specializes in oil,
natural gas, and alternative energy systems. For more information, please
visit the Company's website at: www.nativeamericanenergy.com.
Safe Harbor Statement:
This release may contain descriptions of the Company's expectations
regarding future business activities. These forward-looking statements are
made in reliance upon safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Accordingly, actual results may differ
materially from those contemplated by the forward-looking statements.