Red Deer-based Iroc Energy Services Corp. (TSX: ISC) has obtained conditional approval to list its common shares on the TSX Venture Exchange.
The oilfield services company has been trading on the TSX, but announced last week that it planned to voluntarily delist from the senior exchange to reduce costs.
A news release issued by the company said its management has determined the TSX Venture Exchange is a more appropriate market for its shares in light of Iroc’s stage of development and the current market conditions.
The release said Iroc expected to commence trading on the new exchange on June 30, and that it would retain the symbol “ISC.”
Iroc provides a range of products, services and equipment to the oil and gas industry, including well-servicing and equipment, downhole temperature and pressure monitoring tools, and rental services.