RENO, Nevada, July 20, 2011 (GLOBE NEWSWIRE) -- LJM Energy Corp. (OTCBB:LJMR) ("LJM Energy" and/or "the Company") is pleased to announce the Company has received approval from FINRA to change its corporate name to American Energy Development Corp. effective July 15, 2011. FINRA has also granted approval to the Company's forward stock split of 30 to 1, effective July 15, 2011 ("Forward Stock Split").
The newly named American Energy Development Corp. will be quoted under the ticker symbol AEDC. Due to the Forward Stock Split, FINRA will place a "D" on the ticker symbol for 20 business days and after 20 business days, the symbol will revert back to AEDC.
"We are pleased that the name change has been effectuated as we believe the new name more accurately reflects the overall direction of our fundamental business," commented Joel Felix, AEDC's Chief Financial Officer.
About American Energy Development Corp.
American Energy Development Corp. is an independent US energy company committed to creating American energy independence through the development of acreage in established oil and gas basins using the geological, geophysical, and environmental technology to locate, drill, and produce oil and gas in the United States. American Energy Development Corp.'s current focus is on the development of its acreage portfolio in Ingham County, Michigan.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only reserves that comply with the definitions presented at Rule 4-10(a) of Regulation S-X. We use certain terms in this press release that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Examples of such disclosures would be statements regarding "probable," "possible," or "recoverable" reserves among others. U.S. Investors are urged to consider closely the disclosure in our Form S-1, File No. 333-169014, available from us at American Energy Development Corp., 9190 Double Diamond Parkway, Reno, Nevada, 89521.