Dejour Energy Granted NYSE MKT Listing Extension on Compliance Plan
Vancouver BC, January 27, 2014 – Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, is pleased to report that pursuant to a notice received on November 21, 2013 from the NYSE MKT staff indicating that because the Company: 1.Was below certain of the Exchange’s continued listing standards due to reported stockholders’ equity of US$3,974,882 as at September 30, 2013 being less than US$4,000,000 and reported net losses in three of its four most recent fiscal years; and
2.Reported stockholders’ equity of US$3,974,882 as at September 30, 2013 less than the US$6,000,000 minimum requirement, and reported net losses in its five most recent fiscal years, being sustained losses which were substantial in relation to its overall existing financial resources; and
3.That it appeared questionable, in the opinion of the NYSE MKT, as to whether the Company would be able to continue operations and/or meet its obligations in the future, as set forth in Section 1003 (a) (ii) (iii) (iv) of the NYSE MKT Company Guide.
The Company was afforded the opportunity to submit a plan of compliance to the Exchange and on December 23, 2013, January 10, 2014 and January 23, 2014 presented that plan to the Exchange.
On January 27, 2014, the Exchange notified the Company that it has accepted the Company’s plan of compliance and granted the Company an extension until April 4, 2014 for Section 1003 (a) (iv) and May 22, 2015 for Section 1003 (a) (ii) (iii) to regain compliance with the continued listing standards.
The Company will be subject to periodic review by Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension perio