HOUSTON, Jan. 21, 2014 /PRNewswire/ -- Liberty
Energy Corp. (OTCQB: LBYE) ("Liberty" or "the Company"), an
independent oil and gas company targeting onshore Texas oil conventional plays with a current
focus on the Fort Worth Basin,
today announces that the Company has negotiated the reduction of
the float of Liberty's Common Stock by 8,533,605
shares.
"As part of the commitment to its shareholders, management
has successfully started the reduction of its Common Stock
outstanding by removing these shares from Liberty's tradable float.
This is in addition to the complete payoff of all convertible debt
in 4th quarter last year which combined has prepared the company to
execute an aggressive M & A program of producing with upside
oil & gas leases in Texas,"
stated CEO Arthur Roy.
Liberty stated in previous announcements that it was in
the process of reducing the shares outstanding of its Common Stock
in an effort to maximize shareholder value through a tighter stock
structure. The removal of these shares from Cede & Co which is
the amount in the float, reduces the amount of tradable shares
thereby tightening the supply of shares to the public.
These shares are part of a larger amount of Stock that
management is now negotiating the cancellation and subsequent
reallocation to Liberty's Authorized Stock.
Subsequent agreements and related disclosures will be
filed through SEC filings and posted to Liberty's corporate website
and blog.
http://www.libertyenergycorp.com/blog
ABOUT LIBERTY: Liberty Energy Corp.
(OTCQB:LBYE) is an Independent Oil and
Gas Exploration and Production Company dedicated to the sourcing
and production of oil and gas onshore Texas. Headquartered in Houston, Texas, the company has acquired
several leases with extensive potential for future
development.
Certain statements in this press release are
forward-looking and involve a number of risks and uncertainties.
Such forward-looking statements are within the meaning of that term
in Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended.
Liberty Energy Corp. bases these forward-looking statements on
current expectations and projections about future events, based on
information currently available. The forward-looking statements
contained in this press release may also include statements
relating to Liberty Energy Corp.'s anticipated financial
performance, business prospects, new developments, strategies and
similar matters. Liberty Energy Corp. disclaims any obligation to
update any of its forward-looking statements, except as may be
required by law.
Contact:
Arthur Roy, CEO
Email: IR@LibertyEnergyCorp.com
Liberty Energy Corp.
2425 Fountain View Drive
Suite 300
Houston Texas
77057
Phone: 1-832-649-2652
Fax: 1-832-575-1051
Email: Info@LibertyEnergyCorp.com
Website: http://LibertyEnergyCorp.com
Twitter:
https://twitter.com/LibertyEnergyCo
Facebook:
http://facebook.com/LibertyEnergyCorp
SOURCE Liberty Energy Corp.
