HOUSTON--(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.
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.