800 Commerce Inc. has released a statement claiming that it has filed all necessary documents to change its name to Petrogress, Inc. on behalf of the public parent company with FINRA and the State of Florida, US. On 29 February 2016, 800 Commerce acquired 100% of Petrogres Co. Ltd, including its subsidiaries in the logistics-sea transport and LNG trading sectors.
The company has requested that the name change and symbol change take place on 25 March 2016. A new CUSIP has been requested by the company to be effective alongside the change in name and symbol.
Petrogres, which was established in 2009, is an oil commodity and integrated company in West Africa, which provides the supply of crude oil, which is shipped by its owned tanker fleet, and then delivered to both local buyers and refineries. The company claims that it will expand this model across other continents over the near term. The company also has immediate plans to expand through newbuilds/lease LNG ships in the US for the supply and transport of US LNG cargoes.
The CEO of 800 Commerce, Christos Traios, said: “With a recent surge in oil prices and trading and consistent climbing of the overall market place, we couldn't have picked a more perfect time to enter the public markets to expand our reach within the oil and natural gas sector. We are presently negotiating several opportunities within the LNG sector, seeking to increase our oil sales operations and we have at least two investment banking relationships seeking to fund our operations to increase production and participate in institutional ownership creating visibility for Petrogress within the sector.”
Edited from press release by David Rowlands
Read the article online at: https://www.lngindustry.com/lng-shipping/17032016/800-commerce-announces-update-and-filing-of-name-change-to-petrogress-inc-2142/