1st NRG Corp. (OTC Pink: FNRCD) (PINKSHEETS: FNRCD) announced today a 20,000 to 1 reverse stock split which became effective today, June 23, 2014. 1st NRG Corp. common stock will trade under the symbol FNRCD for twenty business days before reverting back to FNRC. The Company's new CUSIP and ISIN numbers are 32114B309 and US32114B3096 respectively.
As of June 23, 2014, every twenty thousand (20,000) outstanding shares of common stock will be exchangeable into one (1) share of common stock. Any record holder who owns a fractional share of common stock after the reverse stock split will be rounded up to the nearest whole share of common stock in lieu of such fractional share. Shareholders will receive the notices, forms, and instructions regarding the exchange of their pre-split shares for post-split shares from the Company's transfer agent, Continental Stock Transfer & Trust Company, who is acting as the exchange agent for the reverse stock split, or such shareholder's bank, broker, or other nominee if such shares are held in "street name."
About 1st NRG Corp.
1st NRG Corp. (OTC Pink: FNRC) (PINKSHEETS: FNRCD) is an exploration and production company currently engaged in the development of natural gas producing properties in the Powder River Basin of Wyoming. Headquartered in Denver Colorado, our focus has been centered on our coal bed methane reserves where we hold a working interest in 42 producing wells, 8 permitted locations and 3,300 undeveloped acres. The Company is expanding its activities into one of North America's most exciting shale plays participating in a development of prospective acreage in SE Ohio encompassing approximately 7,000 acres.
For more information, please visit http://1stnrg-corp.com,
Forward-looking statements in this release are within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans," "feels", "anticipates," and certain of the other foregoing statements may be deemed "forward-looking statements." Although 1st NRG Corp. believes the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release.
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SOURCE: 1st NRG Corp.