SEAL BEACH, CA -- (Marketwire) -- 06/21/12 -- Independence Energy Corp. (OTCBB: IDNG) (the "Company" or "Independence Energy") is pleased to announce that the Company has received confirmation from FINRA regarding the effective date of its proposed five-for-one forward split of its common shares.
At the market opening on June 22, 2012, the Company's common stock will begin trading on a post-split adjusted basis under the new CUSIP number 45343Y 205. The Company's ticker symbol of "IDNG" will remain unchanged as a result of the forward split, although a "D" will be appended ("IDNGD") for approximately 20 business days to indicate to investors of the recent reorganization.
As the result of the forward stock split, each shareholder is entitled to exchange their existing shares for five times the amount in new post-split shares, payable upon surrender. The Company expects that shareholders holding common shares at registered brokerage firms will have this forward split transaction processed automatically in their accounts over the next few days. Shareholders holding physical certificates representing their shares are NOT required to submit their certificates for exchange to receive full credit for forward split shares. Physical certificate holders may contact the Company's transfer agent, Holladay Stock Transfer Inc., at (480) 481-3940 to facilitate the exchange of their old certificates for post-split shares should they wish to.
"The completion of this forward stock split follows several months of strong IDNG share-price performance and underscores our commitment to continued pursuit of attractive shareholder returns," stated Mr. Gregory C. Rotelli, CEO and President of Independence Energy. "We expect that the implementation of this stock split strategy will place our stock price in a more attractive trading range for a wider-range of long-term investors and have a positive impact on our ability to fuel the future growth of the Company."
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 expectation that the stock split will position the Company's stock in a more attractive trading range for a wider-range of long-term investors and have a positive impact on its ability to fuel future growth. 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.
For additional information, contact;
LiveCall Investor Relations
for Independence Energy Corp.
Mr. Gerry Belanger