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Obsidian Energy Announces Delisting from the NYSE with United States Trading to Commence on the OTCQB under the Ticker Symbol OBELF
Obsidian Energy Announces Delisting from the NYSE with United States Trading to Commence o...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\n\n\n\nObsidian Energy Announces Delisting from the NYSE with United States Trading to Commence on the OTCQB under the Ticker Symbol OBELF\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, April 1, 2020\n\n\n\nCALGARY, April 1, 2020 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") received notification from the New York Stock Exchange (the \"NYSE\") that the Company has not regained compliance with the NYSE's continued listing standard regarding share price pursuant to Rule 802.01C of the NYSE's Listed Company Manual. As a result, OBE.BC shares have been suspended from trading on the NYSE effective immediately. To facilitate trading for our United States based shareholders, Obsidian Energy's common shares will begin trading on the OTCQB under the symbol OBELF on April 2, 2020 and will remain trading on the Toronto Stock Exchange under the symbol OBE.\n\n \n \n\n\n\n\n\n\n\n \nThe significant change in the macro economic environment has contributed to a reduction in the Company's share price. If our share price improves to average over US$0.25 per share for 30 consecutive days, we will move to the OTCQX market. The move in listing from the NYSE to the OTCQB is expected to result in on-going cost savings of approximately $1 million per year at this time. The transition to the OTC markets will not affect the Company's business operations or our current Securities and Exchange Commission reporting obligations and does not conflict with or cause an event of default under any of the Company's material debt or other agreements.  \nForward-Looking Statements Certain statements contained in this document constitute forward-looking statements or information (collectively \"forward-looking statements\") within the meaning of the \"safe harbor\" provisions of applicable securities legislation. Forward-looking statements are typically identified by words such as \"anticipate\", \"continue\", \"estimate\", \"expect\", \"forecast\", \"budget\", \"may\", \"will\", \"proje...