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HOUSTON, May 08, 2020 (GLOBE NEWSWIRE) — Harvest Oil & Gas Corp. (OTCQX: HRST) (“Harvest” or the “Company”) appear today a 10-for-1 about-face banal breach of the Company’s shares of accepted stock, par bulk $0.01 per allotment (the “Common Stock”). The 10-for-1 about-face banal breach will be able as of 5:00 p.m. Eastern Time on May 8, 2020 and the Company’s Accepted Banal will activate trading on an as-adjusted base at the bazaar aperture on May 11, 2020. Harvest’s Accepted Banal will abide to barter on OTCQX beneath the trading attribute “HRST.”

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When the about-face banal breach becomes effective, anniversary ten shares of Accepted Banal issued and outstanding will be adapted into one allotment of Accepted Banal (the “Reverse Banal Split”), which additionally will accept the aftereffect of abbreviation the absolute cardinal of outstanding shares of Accepted Banal from 10,173,707 to 1,017,253. In affiliation with the About-face Banal Split, the Aggregation additionally adapted its affidavit of assimilation to abate the absolute cardinal of accustomed shares of basic banal of the Aggregation from 75,000,000 to 12,000,000 and to abate the absolute cardinal of accustomed shares of Accepted Banal from 65,000,000 to 2,000,000.

Harvest will not affair any apportioned shares in affiliation with the About-face Banal Split. Stockholders who would contrarily authority a apportioned allotment of the Accepted Banal will accept a banknote acquittal in lieu of such apportioned share.

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The exercise bulk of Harvest’s outstanding warrants to acquirement Accepted Banal will be adapted to annual for the About-face Banal Split. The exercise bulk per allotment will access from $30.48 to $304.80, which is in admeasurement to the arrangement of the About-face Banal Split. The cardinal of warrants outstanding will not change, however, the bulk of Accepted Banal issuable aloft the exercise of warrants will be bargain in admeasurement to the About-face Banal Breach ratio. Anniversary of these adjustments will action automatically and become able anon above-mentioned to the aperture of business on May 11, 2020.

Harvest has retained Computershare Inc. and its wholly endemic accessory Computershare Trust Company, N.A. (together “Computershare”) as its alteration abettor to administer the barter of the pre-split shares for new, post-split shares. Computershare can be contacted assessment chargeless at 1-800-546-5141. Outside the U.S. and Canada, Computershare may be accomplished at 1-781-575-2765.

About Harvest Oil & Gas Corp.

Harvest is an absolute oil and gas aggregation affianced in the able operation and development of onshore oil and gas backdrop in the continental United States. The Company’s assets abide primarily of bearing and non-producing backdrop in the Appalachian Basin (which includes the Utica Shale) and Michigan.  More advice about Harvest is accessible on the internet at https://www.hvstog.com.

Forward Looking Statements

This columnist absolution contains assertive statements that are, or may be accounted to be, “forward-looking statements” aural the acceptation of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Barter Act of 1934. All statements, added than statements of absolute facts, included in this columnist absolution that abode activities, contest or developments that the Aggregation expects, believes or anticipates will or may action in the approaching are advanced statements. The Aggregation has based these advanced statements abundantly on its accepted expectations and projections about approaching contest and banking trends affecting the banking action of its business. These advanced statements are accountable to a cardinal of risks and uncertainties, best of which are difficult to adumbrate and abounding of which are above its control. Please apprehend the Company’s filings with the Securities and Barter Commission, including “Risk Factors” in its Annual Report on Form 10-K, and added accessible filings and columnist releases for a altercation of risks and uncertainties that could account absolute after-effects to alter materially from those advancing or adumbrated in such advanced statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “indicate” and agnate expressions are advised to analyze advanced statements.

You are cautioned not to abode disproportionate assurance on advanced statements, which allege alone as of the date hereof. The Aggregation undertakes no obligation to actual or amend any advanced statement, whether as a aftereffect of new information, approaching contest or otherwise.

Harvest Oil & Gas Corp., Houston, TXRyan Stash, Vice President and CFO713-651-1144hvstog.com

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Last Updated: May 14th, 2020 by admin
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