LONDON, Ky.--(BUSINESS WIRE)--Puissant Industries, Inc. (OTCQB: PSSS) (the “Company”) is pleased to announce that it has signed a Placement Agent Agreement with Carter, Terry & Company (“Carter Terry”), a registered broker-dealer based in Atlanta, Georgia. The Agreement states that Carter, Terry will be acting as the Company’s Financial Adviser, Investment Bank and Placement Agent on a “best efforts” basis in connection with investment capital up to $10,000,000 in multiple closings for which it will receive securities and cash compensation.
Mark E. Holbrook, the Company’s Chief Executive Officer commented that: “We are pleased to have Carter, Terry as our Financial Adviser. Should Carter Terry be successful in securing $10,000,000 of financing, we intend to use the funds predominately for drilling and completion of 150 to 200 strategically placed Devonian shale wells and construction of an NGL (Natural Gas Liquids) plant.
About Puissant Industries, Inc.
Puissant Industries, Inc. is engaged in oil and gas exploration and development activities in fractured shale formations located in Eastern Kentucky. Puissant’s business strategy is to grow its reserves, production and cash flow on a cost-efficient basis. The key elements of this business strategy include:
• Developing and exploiting Puissant’s existing properties with a multi-year drilling program in the Appalachian Basin Devonian Shale;
• Maintain long-life reserve base by focusing on acreage acquisition and development activities on resources that target long-life gas and oil reserves;
• Use a disciplined financial approach to be financially strong, yet flexible, through the prudent management of our balance sheet and active management of commodity price volatility.
Disclaimer
Statements made in this press release that express the Company or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. For a discussion of these risks, see the Company’s Form S-1, which may be reviewed at www.sec.gov. In addition, you should review the Company’s periodic reports that are available at www.sec.gov. The Company cannot guarantee future financial results, levels of activity, performance or achievements and investors should not place undue reliance on the Company’s forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of whether: (a) Carter Terry & Company will be successful in securing any investments for the Company; (b) any investments secured for the Company will have any positive effect upon the Company’s future financial performance, future revenues or its future stock price; and (c) whether the Company will be successful in drilling and completing any Devonian shale wells or in constructing a natural gas liquids plant. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Contact:
For Puissant Industries, Inc.:
Frank Benedetto
Mirador
Consulting LLC
(561) 989-3600
