VANCOUVER, BRITISH COLUMBIA, Apr. 7, 2010 (Marketwire) -- Apella Resources Inc. (TSX VENTURE:APA)(FRANKFURT:NWN) and its Board of Directors are pleased to provide its shareholders with the following corporate update on activities of the company.
Apella is currently seeking a US Exchange listing on the OTCQX to complement its existing listing on the TSX Venture Exchange. The OTCQX is the premium tier of the U.S. over-the-counter market tailored to the needs of non-US companies to maximize their visibility in the U.S. market. Apella meets all of the listing requirements. Apella has engaged Baxter Capital Advisors and Moody Capital LLC (a member of FINRA and SIPC) to conclude the necessary filing requirements; and as well has secured the long established and respected legal firm of Berenbaum Weinshienk PC of Denver Colorado as Apella's PAL (Principal American Liaison). The PAL will provide Apella with valuable advice on the U.S. Capital Markets.
Some of Apella's highly respected Canadian peers already listed on this premium exchange are Silver Standard Resources Inc., San Gold Corporation, Novagold Resources Inc., Great Western Minerals, Avalon Rare Metals, Platinum Group Metals Ltd., Goldbrook Ventures Inc., Riverstone Resources, Excellon Resources Inc., and Excellon Resources Inc.. Other non-US listings, non mining, listings on this venue include Air France KLM, BASF, adidas Group, Walmart Mexico, United Colors of Benetton, PSA Peugeot Citroen, to name a few.
Apella plans to use the quality controlled OTCQX listing platform to offer U.S. investors transparent trading, superior information, and easy access through its regulated U.S. broker-dealers. It will provide greater visibility of existing company information to a broader U.S. audience. This OTCQX listing process separates out companies that are worthy of investor consideration from the rest of the OTC market. The OTCQX marketplace is fully electronic and investors can trade through all major online and full-service brokerage firms in the U.S. Trades are settled and cleared in the U.S. similar to any NASDAQ or NYSE security and trade reports are disseminated through Yahoo, Bloomberg, Reuters and most other financial data providers. In addition, Real-Time Level 2 Quote Display (full quote montage) is available free to the public.
Apella anticipates that the cross-listing will be completed in approximately four weeks time.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
Patrick D. O'Brien - Chairman
S.E.C. Exemption 12(g) 3-2(b) File No. 82-3822, Standard & Poors Listed, Dun & Bradstreet Listed.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."