1ST NRG Corp to begin trading on the Frankfurt Stock Exchange in September 2011
Added: (Thu Sep 15 2011)
Pressbox (Press Release) -
DENVER, CO, September 16, 2011 – 1st NRG Corp (OTCBB: FNRC) today announced the listing of its Public Offering (DPO) of 33,700,000 Shares of the Company’s Common Stock on the German Frankfurt Exchange’s Open Market. The offering is not being underwritten and the shares are being offered on a best efforts basis representing gross proceeds of $13,480,000 - if the maximum numbers of shares offered are purchased. The stock will trade on the FWB under its ISIN# 32114 B101.
In October 2010, 1st NRG reported the purchase of coal bed methane assets in the Powder River Basin, a major source of coal bed methane –a source of clean natural gas. The Company is offering an additional thirty-three million shares of its common stock to investors around the globe with its listing on the German Frankfurt Exchange. Proceeds of this sale will be to grow the Company’s holdings of CBM assets in the Powder River Basin region of Wyoming.
In New York, NY today, Mr. Steven Muehler, Managing Partner of the New York Based International Investment Banking Firm “Alta Vista Securities” stated that the strategic move into overseas public markets is expected to “not only assist in financing development drilling operations that can contribute to America’s energy independence, but it will also introduce a new technology / methodology that could prove to be a significant advancement in the development of CBM reserves.” Alta Vista Securities is both an equity participant and advisor to the Company.
About 1st NRG:
1st NRG Corp. (OTCBB: FNRC) is an exploration and production company
headquartered in Denver, Colorado. The Company is currently pursuing prospective acquisitions in coal bed methane (CBM) fields in the Powder River Basin of Wyoming. We own working interests in producing and prospective CBM wells in the Clabaugh Ranch Field, a development of 6,025 gross acres in the Powder River Basin in northeast Wyoming. The Powder River Basin is a major source of coal bed methane - clean natural
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Forward Looking Statement:
This press release does not constitute an offer of any securities for sale and it contains forward-looking statements which involve certain risks & uncertainties that could cause actual results to differ, including, without limitation, the company’s limited operating history & history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete
effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company’s projections or forward-looking statements. All statements in this press release are based on information available to the company as of the date hereof. The
company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Company Contact: Brad Holmes; Phone (713)304-6962, e-mail, firstname.lastname@example.org