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Allied Energy Corporation Retained Council To Advise On and Initiate a Corporate Up-listing and Share Buyback Program
Allied Energy Corporation Retained Council To Advise On and Initiate a Corporate Up-listing and Share Buyback Program.
About this update from Allied Energy Corporation
[{"type":"text","content":"\n Carrollton, Texas, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Allied Energy Corp (OTC Pink: AGYP), is a producing oil and gas company focused on leasing and reworking of oil and gas reserves in one of the most prolific hydrocarbon areas in the United States. Allied Energy is pleased to announce that the Company has retained the services of a securities council to assist the company “AGYP” in the process of up-listing to a recognized North American Stock Exchange, excluding the US OTCMarkets. Furthermore, council has also been secured to advise and help structure an ongoing share buyback program of AGYP's common stock. Council retained by Allied has practiced securities law for over 30 years in North America and has successfully helped companies list and up-list their securities from lower tiered exchanges to higher tiered exchanges. Council has also achieved dual-listings for numerous companies on foreign exchanges such as the Canadian TSX or the Frankfurt Stock Exchange. The details of council will be revealed in the future when filings necessary for \"AGYP\" up-listing are disclosed.  The Company outlined three crucial reasons for the decision to up-list AGYP to a higher exchange: -- TransparencyAllied thinks that transparency on a recognized exchange will lend itself to greater trust and respect from the investment community. Allied is fortunate to have the Texas Railroad Commission website providing official updates on the Company's lease site and oil well activities, but up-listing to a higher exchange will require audited financials and other mandatory disclosures that will show greater transparency to the investing community. -- Increased Attraction for AcquisitionsAs Allied evolves throughout 2022 the Company desires to position itself in the most attractive way possible for real growth that adds value to the corporate bottom line. -- Wider VisibilityAllied believes that up-listing to a higher exchange will give the Company more visibility on an international platform. With oil prices continuing to rise we believe there is the potential for more and more investors to look towards the oil and gas sector, and therefore having more visibility around the world can only be viewed as a positive. In addition to the up-listing process, council is retained to assist Allied with the task of executing an ongoing share bu...