Mammoth Energy Group Reduces Outstanding Sharesadmin
Mammoth Energy Group Reduces Outstanding Shares
New York, NY US, November 12, 2013 /FSC/ – Mammoth Energy Group Inc. (MMTE – OTC Pink), announced today that it is in the final stages of finalizing its corporate restructuring and that it has reduced its outstanding shares to Three Hundred Million.
“The current state of affairs will allow Mammoth Energy Group to move ahead in its business,” announced William Lieberman, President of Mammoth Energy Group. “We are pleased to announce the reduction of outstanding shares as it was never the intention of the company to have so many shares outstanding. We are working with legal counsel to explore the option of up listing the company to a higher exchange as the company has completed more than three years of financial statements. The company will move forward in making sure that all lithium claims bought and paid for in 2011 and 2012 remain current,” he added.
Mammoth Energy Group completed a 1:2000 reverse in August of 2013. The company’s Chilean company, Compania Lithium Investments Limitada has already acquired a total of over 28,000 combined acres on seven different lithium properties throughout Chile. The company is currently in acquisition mode and Compania Lithium Investments Limitada was created in 2011 to acquire, develop and explore lithium and mining assets in Chile on behalf of Mammoth Energy Group Inc. The company expects to announce further developments into the energy sector by the end of the fourth quarter.
Mr. Lieberman clarified, “Now that the company is structured more appropriately for the current environment, we are under serious negotiations for potential partnerships with our current holdings. We expect by the end the year to announce very positive news for our shareholders. We have not disappeared and we have never been out of business.”
About Mammoth Energy Group Inc. (PINK: MMTE) www.mammoth-energy.com
Mammoth Energy Group Inc. is focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world. With an ever changing shift to alternative energy and fuels Mammoth Energy Group will be prepared to be a leading energy supplier and operator. Mammoth Energy’s goal is to become an important partner as the world’s energy paradigm begins to change throughout the next decade and beyond.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company’s business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company’s products; the Company’s ability to protect its proprietary information; general economic and business conditions; the volatility of the company’s operating results and financial condition; and other risks detailed in the Company’s filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contact: Mr. S. Ahshrup
Phone: (917) 725 – 4171
To view the press release as a PDF file, please click on the following link:
Source: Mammoth Energy Group Inc. (OTC_PINK : MMTE) www.mammoth-energy.com
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Posted: November 12th, 2013 under FSCWIRE.