Mammoth Energy Group Reduces Outstanding Shares
November 12 2013 - 9:00AM
Business Wire
Mammoth Energy Group Inc. (MMTE:PINK) announced today that it is
in the final stages of finalizing its corporate restructuring and
that it has reduced its outstanding shares to Three Hundred
Million.
“The current state of affairs will allow Mammoth Energy Group to
move ahead in its business,” announced William Lieberman, President
of Mammoth Energy Group. “We are pleased to announce the reduction
of outstanding shares as it was never the intention of the company
to have so many shares outstanding. We are working with legal
counsel to explore the option of up listing the company to a higher
exchange as the company has completed more than three years of
financial statements. The company will move forward in making sure
that all lithium claims bought and paid for in 2011 and 2012 remain
current,” he added.
Mammoth Energy Group completed a 1:2000 reverse in August of
2013. The company’s Chilean company, Compania Lithium Investments
Limitada has already acquired a total of over 28,000 combined acres
on seven different lithium properties throughout Chile. The company
is currently in acquisition mode and Compania Lithium Investments
Limitada was created in 2011 to acquire, develop and explore
lithium and mining assets in Chile on behalf of Mammoth Energy
Group Inc. The company expects to announce further developments
into the energy sector by the end of the fourth quarter.
Mr. Lieberman clarified, “Now that the company is structured
more appropriately for the current environment, we are under
serious negotiations for potential partnerships with our current
holdings. We expect by the end the year to announce very positive
news for our shareholders. We have not disappeared and we have
never been out of business.”
About Mammoth Energy Group Inc. (PINK: MMTE)
www.mammoth-energy.comMammoth Energy Group Inc. is focused on
acquiring, developing and operating strategic mining energy
reserves in locations throughout the world. With an ever changing
shift to alternative energy and fuels Mammoth Energy Group will be
prepared to be a leading energy supplier and operator. Mammoth
Energy’s goal is to become an important partner as the world’s
energy paradigm begins to change throughout the next decade and
beyond.
Forward-Looking StatementsThis press release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities and Exchange Act of 1933, as amended, and Section 21E of
the Securities and Exchange Act of 1934, as amended, and such
Forward Looking Statements are intended to be covered by the safe
harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties. All
statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effect of acquisitions on our profitability, the effectiveness,
profitability, and the marketability of the Company's products; the
Company's ability to protect its proprietary information; general
economic and business conditions; the volatility of the company's
operating results and financial condition; and other risks detailed
in the Company's filings with the Securities and Exchange
Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contact: Mr. S. AhshrupPhone: (917) 725 - 4171Email:
info@mammoth-energy.comWeb: www.mammoth-energy.com
Mammoth Energy Group Inc.Mr. S. Ahshrup, (917) 725 -
4171info@mammoth-energy.comwww.mammoth-energy.com