Hydrocarb Energy Effects Reverse Split with Focus on Exchange Listing
May 08 2014 - 8:45AM
Business Wire
Hydrocarb Energy Corporation (OTCQB:HECC) is pleased to announce
a 3:1 reverse split of its authorized and outstanding common stock
in order to qualify for a major stock exchange listing.
The reverse split is for each 3 shares of issued and outstanding
common stock to be combined into one share of common stock. The
Company’s common stock will trade today on a split-adjusted basis
under a new CUSIP number (448838300). The Company’s ticker symbol,
“HECC”, remains unchanged; however, the ticker symbol will be
represented as “HECCD” for up to 20 trading days following the
reverse split effective date.
As a result of this action, the number of outstanding common
shares are now reduced from 62,886,433 to approximately 20,962,214,
subject to adjustment for fractional shares. Fractional shares
will be rounded up to the next whole share. It is not
necessary for shareholders to exchange existing stock certificates
for new stock certificates in connection with this action, although
they may do so if they wish. Shareholders should direct any
questions concerning certificates to their broker or Hydrocarb’s
transfer agent, Transhare Securities Transfer and Registrar, at
(303)-662-1112.
About Hydrocarb Energy
Hydrocarb Energy Corporation is a publicly-traded Domestic and
International Energy Exploration and Production Company targeting
major under-explored oil and gas projects in emerging, highly
prospective regions of the world. With exploration concessions in
Africa, production in Galveston Bay, and Oil Field Services in the
United Arab Emirates, we maintain offices in Houston, Texas, Abu
Dhabi, UAE and Windhoek, Namibia.
For further information: www.hydrocarb.com.
Forward-looking Statements
This release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements, which contain words such as "expect,"
"believe" or "plan," by their nature address matters that are, to
different degrees, uncertain. These uncertainties may cause actual
future events to be materially different than those expressed in
our forward-looking statements. We do not undertake to update our
forward-looking statements.
Hydrocarb Energy CorporationPasquale Scaturro,
1-713-970-1590CEOinfo@hydrocarb.com