Empire Petroleum Issues Correction for Previously Announced Proposed Rights Offering
28 Fevereiro 2024 - 11:40AM
Business Wire
Empire Petroleum Corporation (NYSE American: EP) ("Empire" or
the "Company"), an oil and gas company with current producing
assets in New Mexico, North Dakota, Montana, Texas, and Louisiana,
announced today a correction to its prior announcement regarding
its subscription rights offering (“Rights Offering”) with a record
date of the close of business on March 7, 2024 (the “Record Date”)
pursuant to which it intends to raise gross proceeds of up to
approximately $25 million. The initial release indicated that each
subscription right entitled the holder to purchase 4,132,232 shares
at the subscription price of $6.05. It should have indicated that
the Company is offering holders the right to purchase an aggregate
of 4,132,232 shares of Common Stock upon exercise of the
subscription rights at a subscription price of $6.05 per share.
This press release should be read in conjunction with the
initial press release. These corrections do not change any other
information reported in the initial press release.
The Rights Offering will be more fully described in the
prospectus supplement filed with the Securities and Exchange
Commission (“SEC”) on or about the Record Date. Once available, a
copy of the prospectus, prospectus supplement or further
information with respect to the Rights Offering may be obtained by
contacting Securities Transfer Corporation, the subscription and
information agent for the Rights Offering, at (469) 633-0101.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall there
be any offer, solicitation or sale of securities in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
About Empire Petroleum Empire Petroleum Corporation is a
publicly traded, Tulsa-based oil and gas company with current
producing assets in New Mexico, North Dakota, Montana, Texas, and
Louisiana. Management is focused on organic growth and targeted
acquisitions of proved developed assets with synergies with its
existing portfolio of wells. More information about Empire can be
found at www.empirepetroleumcorp.com.
Safe Harbor Statement This release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements involve a wide variety of
risks and uncertainties, and include, without limitations,
statements with respect to the Company’s estimates, strategy and
prospects. Such statements are subject to certain risks and
uncertainties which are disclosed in the Company’s reports filed
with the SEC, including its Form 10-K for the fiscal year ended
December 31, 2022, and its other filings with the SEC. Readers and
investors are cautioned that the Company’s actual results may
differ materially from those described in the forward-looking
statements due to a number of factors, including, but not limited
to, the Company’s ability to acquire productive oil and/or gas
properties or to successfully drill and complete oil and/or gas
wells on such properties, general economic conditions both
domestically and abroad, and other risks and uncertainties related
to the conduct of business by the Company. Other than as required
by applicable securities laws, the Company does not assume a duty
to update these forward-looking statements, whether as a result of
new information, subsequent events or circumstances, changes in
expectations, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240228689149/en/
Empire Petroleum Corporation: Mike Morrisett, President and CEO
539-444-8002 info@empirepetrocorp.com Investor Relations: Al Petrie
Advisors Wes Harris, Partner 281-740-1334 wes@alpetrie.com
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