Independence Energy Corp. Announces Effectiveness of 5 for 1 Forward Stock Split
June 21 2012 - 1:01PM
Marketwired
Independence Energy Corp. (OTCBB: IDNG) (the
"Company" or "Independence Energy") is pleased to announce that the
Company has received confirmation from FINRA regarding the
effective date of its proposed five-for-one forward split of its
common shares.
At the market opening on June 22, 2012, the Company's common
stock will begin trading on a post-split adjusted basis under the
new CUSIP number 45343Y 205. The Company's ticker symbol of "IDNG"
will remain unchanged as a result of the forward split, although a
"D" will be appended ("IDNGD") for approximately 20 business days
to indicate to investors of the recent reorganization.
As the result of the forward stock split, each shareholder is
entitled to exchange their existing shares for five times the
amount in new post-split shares, payable upon surrender. The
Company expects that shareholders holding common shares at
registered brokerage firms will have this forward split transaction
processed automatically in their accounts over the next few days.
Shareholders holding physical certificates representing their
shares are NOT required to submit their certificates for exchange
to receive full credit for forward split shares. Physical
certificate holders may contact the Company's transfer agent,
Holladay Stock Transfer Inc., at (480) 481-3940 to facilitate the
exchange of their old certificates for post-split shares should
they wish to.
"The completion of this forward stock split follows several
months of strong IDNG share-price performance and underscores our
commitment to continued pursuit of attractive shareholder returns,"
stated Mr. Gregory C. Rotelli, CEO and President of Independence
Energy. "We expect that the implementation of this stock split
strategy will place our stock price in a more attractive trading
range for a wider-range of long-term investors and have a positive
impact on our ability to fuel the future growth of the
Company."
About Independence Energy Corp.
Independence Energy Corp. is an oil and gas exploration and
development company focused on projects in the United States.
Independence Energy is seeking to further advance its existing
projects through development or offset drilling and to expand its
portfolio to include additional property interests in the United
States.
Some information in this document constitutes forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements, such as the expectation that the stock
split will position the Company's stock in a more attractive
trading range for a wider-range of long-term investors and have a
positive impact on its ability to fuel future growth. The words
"plan", "forecast", "anticipates", "estimate", "project", "intend",
"expect", "should", "believe", and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve, and are subject to, known and unknown risks,
uncertainties and other factors which could cause the Company's
actual results, performance (financial or operating) or
achievements to differ from the future results, performance
(financial or operating) or achievements expressed or implied by
such forward-looking statements. The risks, uncertainties and other
factors are more fully discussed in the Company's filings with the
U.S. Securities and Exchange Commission. All forward-looking
statements attributable to Independence Energy Corp. herein are
expressly qualified in their entirety by the above-mentioned
cautionary statement. Independence Energy Corp. disclaims any
obligation to update forward-looking statements contained in this
estimate, except as may be required by law.
For additional information, contact; LiveCall Investor Relations
for Independence Energy Corp. Mr. Gerry Belanger Investor Contact
(800) 976-4490 info@independenceenergycorp.com
www.independenceenergycorp.com
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