Mammoth Energy Group to Reduce Outstanding Shares
April 15 2014 - 9:04PM
Business Wire
Mammoth Energy Group Inc. (MMTE: OTC PINK) announced today that
it expects and intends to reduce its outstanding common shares by
67,198,300 common shares as a result of the unwinding of its
Chilean assets. The company is currently negotiating a buy-out and
sale of these assets and expects that there will be a cash
component to the company and a dividend payable to shareholders of
record on top of the reduction of common shares. Terms are expected
to be announced by the end of April.
About Mammoth Energy Group Inc. (OTC MARKETS: MMTE)
www.mammoth-energy.com
Mammoth Energy Group Inc. is focused on acquiring, and
developing strategic and operational mineral reserves in locations
throughout the world. 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 Statements
This 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: Ms. Sam Oneka Phone: (917) 725 - 4171 Email:
info@mammoth-energy.com
Web:
www.mammoth-energy.com
Mammoth Energy Group Inc.Ms. Sam Oneka,
917-725-4171info@mammoth-energy.comwww.mammoth-energy.com