SOURCE: Independence Energy Corp.
SEAL BEACH, CA--(Marketwire - Jun 8, 2012) - Independence Energy Corp. (OTCBB: IDNG) (the "Company" or "Independence Energy") is pleased to announce that the Company has approved a five-for-one forward split of its common shares outstanding in the form of a stock dividend. As a result of the proposed forward stock split, shareholders will receive four (4) additional common shares for every one (1) share held on a yet to be named record date.
"We are very pleased to propose this forward stock split, because we believe it can have a positive impact on the relative liquidity of our shares, making the Company more attractive to a wider range of long-term small-cap company investors," stated Mr. Gregory C. Rotelli, CEO and President of Independence Energy. "The Company has several active projects underway and more opportunities are currently being considered for participation. This positive share restructuring strategy should help to enable future growth and help achieve maximum value for all our stakeholders."
The Company anticipates filing the required documentation to facilitate the forward split in the very near future, after which further details regarding the timing and nature of the forward split will be made available to the general public. The proposed forward split remains subject to regulatory approval.
Further updates regarding the proposed forward stock split and other Independence Energy business will be made as additional information becomes available.
About Independence Energy Corp.
Independence Energy Corp. is an oil and gas exploration and development company focused on projects in the United States. Independence Energy is seeking to further advance its existing projects through development or offset drilling and to expand its portfolio to include additional property interests in the United States.
Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the potential acquisition of additional oil and gas projects and the forward split enabling future growth and helping to maximize value for all shareholders. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to, known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Independence Energy Corp. herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Independence Energy Corp. disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.