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ACX Acadian Energy

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Share Name Share Symbol Market Type
Acadian Energy TSXV:ACX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Acadian Energy Inc. Moves to NEX Exchange, Continued Suspension From Trading and Announces Passing of One of Its Directors

16/08/2013 12:07am

Marketwired Canada


Acadian Energy Inc. (TSX VENTURE:ACX)  (the "Corporation" or "Acadian")
announced today that as of August 8, 2013 its listing was transferred to the NEX
Exchange, a separate board of the TSX Venture Exchange. 


Acadian also regrets to announce that one of its founders and directors, Gilbert
Smith, passed away in early July. Management sends its condolences to his
family. The Corporation will miss Mr. Smith who was a knowledgeable and
significant contributor to the formation of the Corporation and who served as a
director with diligence and integrity.


Due to funding constraints, the Corporation was unable to meet its deadlines to
file its annual audited financial statements for December 2012 and subsequent
quarterly filings. Consequently, the Corporation failed to meet the Continued
Listing Requirements imposed by the TSX Venture Exchange. 


The shares of the Corporation shall remain suspended from trading until it meets
its reporting requirements and is reinstated by applicable regulatory
authorities. 


The "NEX" is a separate board of the TSX Venture Exchange for companies
previously listed on TSX Venture Exchange or Toronto Stock Exchange which have
failed to maintain compliance with the ongoing financial listing standards of
those markets. NEX has been designed to provide a forum for the trading of
publicly listed shell companies while they seek and undertake transactions in
furtherance of their reactivation as companies which will carry on an active
business.


Management of Acadian continues to diligently pursue transactions that will
likely involve a reverse takeover of a private company, which will enable a
concurrent financing and funds to prepare the required financial and other
documentation required to be reinstated on the TSX Venture Exchange and a
resumption of trading. 


There can be no assurance that a suitable transaction will be found that meets
the Corporation's criteria. 


Additional information about the Corporation is available on its web site:
www.acadianenergy.com. 


About Acadian:

Acadian is a junior exploration and production company which is focused on the
exploration and development of New Albany shale oil and natural gas in the
Illinois Basin. The Corporation continues exploration development of the oil
potential of the New Albany Shale. Acadian traded on the TSX Venture Exchange
under the symbol ACX but is now on the NEX.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Acadian Energy Inc.
Mark Lawrence
Interim CEO
281-751-7720
mlawrence@acadianenergy.com
www.acadianenergy.com

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