NEW YORK--(BUSINESS WIRE)--Mammoth Energy Group Inc. (MMTE: OTC PINK) today announced that shareholders who had experienced difficulty or additional costs when depositing the Company's shares manually will now be able to have their shares deposited electronically in street name. DTC has resolved all issues and cleared the Company to resume accepting deposits of the Company's common stock for book entry transfer services. All deposit restriction chills have been removed and the Company is now once again fully "DTC Eligible." DTC's removal of the chill now allows shareholders with online brokerage accounts with firms such as Scottrade, ETRADE, TD Ameritrade and other full service brokerage firms to deposit new shares of Mammoth Energy’s common stock in the electronic system that controls clearance and settlement. The Company has over 5,000 shareholders who should benefit from the additional number of choices now available to them as a result of this action.
President, William Lieberman said, "We are in receipt of a letter from DTC acknowledging the “Chill” removal and have reviewed a recent activity transaction journal supplied by our transfer agent, Transfer Online Inc., which now confirms DTC's decision to accept XDSL share deposits and transfers into street name. We are pleased with the collaborative efforts by our lead outside securities counsel, Laura Anthony Esq. of Legal and Compliance LLC, as well as counsel for DTC and DTC itself, in working to remove the chill, enabling our shareholders to once again deposit shares in street name." Lieberman added, "We are grateful to the attorneys, whose hard work and determination throughout this lengthy process was instrumental in accomplishing the removal of the DTC "Chill".
About Mammoth Energy Group Inc. (OTC PINK: MMTE) www.mammoth-energy.com
Mammoth 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.
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.