Endeavor Power Corp.
OTC Bulletin Board : EDVP

Endeavor Power Corp.

October 14, 2009 09:00 ET

Endeavor Announces Corporate Update

NEW YORK, NEW YORK--(Marketwire - Oct. 14, 2009) - Endeavor Power Corp. (OTCBB:EDVP) (the "Company") announced today that its Board of Directors approved a 1 for 10 reverse stock split. The reverse stock split will reduce the number of issued and outstanding shares of the Company. The reverse stock split is subject to approval by the Company's stockholders and certain other conditions. There can be no assurances at this time that the reverse stock split will be consummated. A special stockholders meeting to consider this matter is tentatively scheduled for some time during the 4th quarter, with the exact timing dependent on the SEC's review of the necessary filings.

The Company will file an Information Statement with the SEC that describes the reverse stock split in greater detail, with such Information Statement addressing other corporate actions as well such as reelection of the Company's officers and directors and approval of an Employee Stock Option Plan. Upon SEC approval, the Company will mail a copy of the Information Statement to all stockholders of record announcing the special meeting.

Brandon Toth, Endeavor's President and chief executive officer, stated, "It is the opinion of the Company's Board of Directors that a reverse stock split is in the best interests of the stockholders as it will allow the Company to more aggressively pursue potential oil and gas acquisitions, or even to consider possible merger candidates."

The announcement of the proposed reverse stock split described above is not a solicitation of a proxy. The Company will hold a special meeting of stockholders to vote on the transaction. Prior to the meeting, the Company will mail to the Company's stockholders an Information Statement that will contain important information regarding the meeting and the transaction, including, among other things, the recommendation of the Company's Board of Directors regarding the transaction. Stockholders of the Company are advised to read the materials. Copies of the Information Statement materials, and any amendments or supplements thereto, will be available without charge at the SEC's website at http://www.sec.gov or from the Secretary of the Company after they are mailed to stockholders.

About Endeavor Power Corp.

Endeavor Power Corp. is an independent, energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the United States. Endeavor's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. Endeavor also aims to define larger projects that can be developed with Joint Venture partners.

Legal Notice Regarding Forward-Looking Statements

Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior oil and gas exploration companies with the US Securities and Exchange Commission.

Contact Information