Dejour Receives Conditional Approval for TSX Listing.VANCOUVER -- Dejour Enterprises Ltd. (AMEX AMEX See: American Stock Exchange :DEJ DEJ Dermal-Epidermal Junction DEJ Deferred Entry of Judgment (court mandated program for nonviolent drug offenders) DEJ Dentoenamel Junction DEJ Dale Earnhardt, Junior ) (TSX-V:DEJ) announces it has received conditional approval for the listing on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension ) of the Company's common shares that currently trade on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . The Company is currently in the process of completing the filing requirements necessary to obtain final approval for the listing. Upon completion of this process Dejour's shares will be listed on the TSX under the symbol DEJ. Dejour's shares will concurrently be delisted from TSX Venture Exchange. The TSX is a senior Canadian exchange, which maintains minimum listing requirements including minimum proved developed reserves, as verified by current National Instrument #51-101 compliant report prepared by independent consultants and a clearly defined program to increase reserves. Other requirements include provisions for adequate funds to execute business programs, cover G & A and debt service expenses for at least 18 months with contingency allowances. In 2007, only 72 out of 2,176 (3%) TSX Venture companies graduated to the TSX. In 2008 to date less than 40 companies have qualified, according to the TSX website. Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert L. Hodgkinson, states, "For Dejour, the graduation to the TSX, Canada's premiere exchange, is a reflection of the success the company has achieved in developing both its O&G proven reserve and production base in Canada's Peace River Arch and materially advancing its extensive O&G property resource base in the Piceance/ Uinta Basins of the USA. For shareholders, the move to the TSX may potentially enhance trading liquidity with the addition of a regulated market maker, expose Dejour to a broader, more conservative investor base, provide the company easier access to larger pools of lower cost capital and create better visibility through enhanced analyst and media coverage". In compliance with the rules of the TSX and the existing option plan, Dejour plans to grant a total of 2,750,000 new options at this time: 1,690,000 to insiders, 810,000 to employees, consultants and advisors, and 250,000 to investor relations personnel. These options will have a term of five years, will vest over the same five year period (except under certain conditions) and be exercisable at $CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. 0.45 per share. About Dejour Dejour Enterprises Ltd., an active micro cap oil and natural gas explorer and producer, strategically assembles and develops North American energy properties. The company has 150,000 net acres of premium energy assets in two of North America's most prolific areas. Flagship properties encompass 128,000 net acres in the U.S. Rocky Mountains and 22,000 net acres in Canada's Peace River Arch. Dejour's energy portfolio also includes a significant interest in uranium discovery through carried interests and control holdings of Titan Uranium, Inc. (TSX-V: TUE Tu´e n. 1. (Zool.) The parson bird. Tue, Tues abbr (= Tuesday) → ma ). Dejour, headquartered in Vancouver, British Columbia, maintains operations offices in Denver, Colorado and Calgary, Alberta. The company is currently publicly traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (Amex: DEJ) and TSX Venture Exchange (TSX-V: DEJ). The TSX and the TSX Venture Exchange do not accept responsibility for the adequacy or accuracy of this news release. |
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