Pardee Will Comply with Amendment to SEC Rule 15c2-11

PHILADELPHIA, Dec. 29, 2020 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") announced today that its Board of Directors has reviewed and considered the impact of the recent amendment to Rule 15c2-11 under the Securities Act of 1934 on the trading markets for the Company's common shares. The amended rule will require certain issuers, including the Company, to make, among other things, current financial information publicly available in order for brokers to continue to make a market in their securities. Pardee intends to comply with the amended rule within the mandated grace period.

In addition to historical statements, this press release contains statements relating to future events and the future intention of the Company with respect to providing the information called for by the amendment to Rule 15c2-11.  These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995.  While these forward-looking statements represent our judgments and current expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations.  These factors include, but are not limited to: difficult economic conditions, and other risks and uncertainties.  As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Pardee Resources Company