Banro Begins Trading on American Stock Exchange
March 28th, 2005
Toronto, Canada: Banro Corporation (“The Company”) (AMEX: “BAA”; TSX-V: “BAA”) is pleased to announce that its common shares have been approved for listing on the American Stock Exchange (AMEX).
The Company’s shares began trading on AMEX at the open today, Monday, March 28, 2005, under the ticker symbol “BAA.” The Company’s AMEX specialist is J. Streicher & Co. LLC. The Company’s common shares will continue to trade on the TSX Venture Exchange under the trading symbol “BAA”.
“The Amex listing has been undertaken to improve the accessibility and liquidity of the shares, specifically for global investors, as well as broaden the potential reach to the capital markets. The latter will support Banro’s future growth and assist in unlocking value for shareholders from our significant gold projects,” stated Peter Cowley, President and Chief Executive Officer.
Banro is a Canadian-based gold exploration company focused on the development of its four wholly-owned properties in the South Kivu and Maniema provinces of the Democratic Republic of the Congo.
The AMEX listing approval is contingent on the Company being in compliance with all applicable listing standards on the date it begins trading on the AMEX and may be rescinded if the Company is not in compliance with such standards.
FORWARD-LOOKING STATEMENTS: This news release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements
For further information:
Peter Cowley, President & C.E.O.
United Kingdom, Tel: (44) 790-454-0856
Arnold T. Kondrat, Executive VP
Martin Jones, VP Corporate Development
Toronto, Ontario, Tel: (416) 366-2221
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.