NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSXV: PEH) announces that it has entered into a market making agreement (the "Agreement") with AltaCorp Capital Inc. ("AltaCorp"). AltaCorp is a full-service investment dealer focusing on the key drivers of the Canadian economy and overlapping sectors of Energy, Agri-Industry and Energy Infrastructure & Industrials. AltaCorp is in a strategic relationship with ATB Financial, a full service financial institution headquartered in Edmonton, Alberta. AltaCorp is majority owned by its employees with ATB holding a minority interest. AltaCorp's head office is at Suite 1100, 888 -- 3rd Street SW, Calgary, Alberta, with the Market Making activities being provided out of its Toronto office located at Suite 3530, 66 Street Wellington West, Toronto, Ontario. AltaCorp is at arm's length to Primeline, and has no interest, directly or indirectly, in Primeline or its securities, and no right or intent to acquire such an interest.
Under the Agreement, AltaCorp will make good faith efforts to provide bid and ask quotes for Primeline's common shares on the TSX Venture Exchange in order to correct temporary imbalances in the supply of and demand for trading of the common shares. Either party may terminate the Agreement on 10 days notice to the other. For such services, Primeline will pay AltaCorp a monthly fee of CAD$ 5,000 plus HST until termination.
About Primeline Energy Holdings Inc.
Primeline is an exploration and development company focusing exclusively on China resources to become a major supplier of gas and oil to the East China market. Primeline has a 75% Contractor's interest in and is the operator of the petroleum contract with CNOOC for Block 33/07 (5,877sq km) in the East China Sea, and a 36.75% interest in the producing LS36-1 Gas Field in Block 25/34, together with CNOOC Limited (51% interest and acting as Operator for the field development and production) and Primeline Petroleum Corporation (12.25% interest). Shares of Primeline are listed for trading on the TSX Venture Exchange under the symbol PEH.
ON BEHALF OF PRIMELINE ENERGY HOLDINGS INC.
Ming Wang
Chief Executive Officer
CONTACT:
PRIMELINE ENERGY HOLDINGS INC.
Dr. Ming Wang
CEO
Phone: +44 207.499.8888
Fax: +44 207.499.2288
Toll Free: 1.877.818.0688
Email: IR@pehi.com
CHF INVESTOR RELATIONS
Robin Cook,
Senior Account Manager
Phone: +1 416.868.1079 ext 228
Fax: +1 416.868.6198
Email: robin@chfir.com
VSA CAPITAL LIMITED
Andrew Raca
Head of Corporate Finance
Phone : +44 203 005 5000
Email : ARaca@vsacapital.com
Please visit the Company's website at www.pehi.com. should you wish to receive Company news via email, please email robin@chfir.com and specify "Primeline Energy" in the subject line.
Forward-Looking Statements
Some of the statements in this news release may contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Primeline. These statements are based on assumptions that management considers reasonable. Forward-looking statements involve known and unknown risks and uncertainties which may cause actual results to vary materially from those anticipated in such statements. Exploration for oil and gas is subject to the inherent risk that it will not result in a commercial discovery.
Neither 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.