QUEBEC CITY, QUEBEC--(Marketwired - Jan. 21, 2016) - Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") is pleased to announce it has been selected in the 2016 TSX Venture 50, a ranking of strong performers which have shown results in key measures of market performance.
"We are proud to be recognized as a strong performer company of the TSX Venture Exchange. This selection reflects the efforts made by Junex over the years, especially the positive impact of the Galt oil project in 2015. We would also like to highlight and recognize the dedication and outstanding effort of all our employees and the support of all our shareholders. Current market conditions present a real challenge for all companies in the oil and gas sector however Junex remains well positioned to weather the current turbulence. We are pursuing a rigorous exploration plan following the discovery of the Galt No. 4 Horizontal well at the end of 2014 and, as of December 31 2015, we had working capital of approximately $ 13.5 million, or $ 0.17 per issued and outstanding share" commented Mr. Peter Dorrins, President and Chief Executive Officer of Junex.
The 2016 TSX Venture 50 ranking is comprised of 10 companies from each of the five industry sectors, and they were selected based on three equally weighted criteria: market capitalization growth, share price appreciation, trading volume and analyst coverage. On average, these companies have delivered a return of 77% in 2015. The shares of these companies also enjoy a liquid market, with a total of 3.0 billion shares trading over the course of 2015.
Junex is a junior oil and gas exploration company that holds exploration rights on approximately 5.2 million acres of land in the Appalachian basin in the Province of Quebec, including the Galt Oil Property on the Gaspé Peninsula in eastern Quebec, landholdings on Anticosti Island in the Gulf of St. Lawrence and landholdings in the St. Lawrence Lowlands between Montreal and Quebec City. In parallel to its exploration efforts in Quebec and expansion of its exploration activities elsewhere, the company operates a drilling services division.
Forward-Looking Statements and Disclaimer
Certain statements in this press release may be forward-looking. Forward-looking statements are based on the best estimates available to Junex at the time and involve known and unknown risks, uncertainties and other factors that may cause Junex's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting Junex's business and activities appears under the heading "Risks and Uncertainties" on pages 7 to 10 of Junex's 2014 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Junex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Junex. Junex disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event. The reader is warned against undue reliance on these forward-looking statements.
Neither 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.
Source: Marketwired (Canada)
(January 21, 2016 - 9:00 AM EST)
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