HOUSTON, Sept. 22, 2014 (GLOBE NEWSWIRE) -- Eco-Stim Energy Solutions, Inc. (OTC:ESES) ("EcoStim" or the "Company") announced today that on September 19, 2014, the Securities and Exchange Commission (the "SEC") declared effective the Company's registration statement on Form S-1 relating to the resale of up to 7,758,321 shares of EcoStim's common stock (including approximately 1,977,314 shares issuable upon the conversion of outstanding debt), par value $0.001 per share, by certain selling stockholders. The Company will not receive any proceeds from any sales by selling stockholders, and the Company is not aware of any plans by selling stockholders to effect such resales.
"We are pleased that the SEC has declared our Form S-1 effective," said J. Chris Boswell, CEO of EcoStim. "This will enable holders of shares of our outstanding common stock to offer and sell their shares from time to time. As a result, we expect that a more liquid trading market in our shares could develop over the coming months."
The offering of these securities may only be made by means of a prospectus. A registration statement relating to these securities has been declared effective by the SEC. An electronic copy of the prospectus may be obtained from the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, nor shall there be any sale of these securities in any state in which offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Company based on management's experience, expectations and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These Include the factors discussed or referenced in the "Risk Factors" section of the Company's 10-K filed with the SEC on March 28, 2014 and risks relating to expected continued development of fracturing operations and unconventional activity in Argentina, expected financial results for past and future periods; the effects of government regulation, permitting and other legal requirements, including new legislation or regulation of hydraulic fracturing; drilling and operating risks; the adequacy of the Company's resources and liquidity; difficult and adverse conditions in the domestic and global capital and credit markets; risks related to the concentration of our operations in South America; shortages of oilfield and well stimulation service equipment, services and qualified personnel and increases in costs for such equipment, services and personnel; uncertainties about the Company's ability to successfully execute its business and financial plans and strategies; general economic and business conditions, either internationally or domestically or In the Jurisdictions In which the Company operates; competition in the oil and natural gas industry; uncertainty concerning the Company's assumed or possible future results of operations; the Company's existing indebtedness; and other important factors that could cause actual results to differ materially from those projected.
Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
CONTACT: Jeff Freedman, Investor Relations firstname.lastname@example.org 281-531-7200
Source:Eco-Stim Energy Solutions, Inc.