Investor Relations
HOUSTON, TX / ACCESSWIRE / March 3, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), is pleased to announce that on or about January 30, 2023, Camber entered into a 12-month full-service agreement with Shareholder Intelligence Services, LLC ("ShareIntel") as part of its overall efforts to help identify and combat potential short selling of the Company's stock and protect the interests of its shareholders.
ShareIntel gathers and analyzes shareholder trading data through its DRIL-DownTM process, a technology platform that tracks bank, broker dealer and shareholder movement specifically to reveal suspicious, aberrant, and/or unusual trading activity. The tool aims to help identify, interpret, and communicate shareholder and broker-dealer movement to issuers.
James Doris, President & CEO of Camber stated "It is imperative that illegal trading activity be completely eliminated from the market, and we are pleased to be working with ShareIntel as part of our efforts to identify parties who are or who may have been involved in any potential illegal short selling of our stock. Analysis provided by ShareIntel will assist us with developing an appropriate action plan to diminish any potential unlawful activity".
David Wenger, President and Chief Executive Officer of ShareIntel, stated, "We look forward to helping Camber Energy identify participants to potential illegal naked short selling, and assisting the company with implementing appropriate action steps to help curtail such activity."
About ShareIntel
ShareIntel-Shareholder Intelligence Services, LLC (SIS) is a patented compliance driven SaaS retained by public companies to track shareholder ownership and monitor critical broker-dealer and shareholder movement. DRIL-Down™ identifies participants to potential abusive and illegal short selling providing actionable intelligence. www.shareintel.com
About Camber Energy,Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/741817/CamberEnergy-Takes-Steps-to-Combat-Illegal-Short-Selling
HOUSTON, TX / ACCESSWIRE / January 31, 2023 / Camber Energy, Inc.'s (NYSE American:CEI) ("Camber" or the "Company") majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), announced today that Viking's majority-owned subsidiary, Viking Ozone Technology, LLC ("Viking Ozone"), received today U. S. Utility Patent No. 11,565,289 from the United States Patent & Trademark Office ("USPTO") titled "Multi-Chamber Medical Waste Ozone-Based Treatment Systems and Methods". A related international application is pending, and selected countries will be designated for national phase coverage in the near future. It is anticipated that the allowance of this United States patent application may lead to additional related patents in other countries.
This utility patent relates to Viking Ozone's proprietary methods and devices utilizing Ozone-based treatments. Viking is expected to use this technology within waste treatment and disposal systems including, including systems used in hospitals, prisons, laboratories, military bases and care centers.
According to the World Health Organization, the management of health-care waste requires increased attention and diligence to avoid adverse health outcomes, and key elements in improving health-care waste management include favoring the safe and environmentally sound treatment of waste, and selecting safe and environmentally-friendly management treatment and disposal options.1
About Camber:
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387
1https://www.who.int/news-room/fact-sheets/detail/health-care-waste
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/737429/Camber-Energys-Subsidiary-Announces-Grant-ofPatent-Covering-Waste-Treatment-Technology
Facility Designed to Produce ⁓ 43,000,000 Gallons/yr. of Renewable Diesel
HOUSTON, TX / ACCESSWIRE / January 23, 2023 / Camber Energy, Inc. (NYSE American: CEI) ("Camber" or the "Company") is pleased to announce that on January 20, 2023 it entered into a Membership Interest Purchase Agreement to acquire a 100% interest in companies that own and are in the process of bringing into commercial operations a processing plant designed to produce renewable diesel (the "Plant"). The estimated production capacity of the Plant once operational is ⁓ 43,000,000 gallons per year.
Renewable diesel fuel, sometimes called green diesel, is a biofuel that is chemically the same as petroleum diesel fuel, and is produced through various thermochemical processes such as hydrotreating, gasification, and pyrolysis. Renewable diesel is made from renewable feedstocks instead of crude oil, and is approx. 50%-55% less carbon-intensive than traditional petroleum diesel.
Global consumption of renewable energy has increased in recent years and is expected to continue to do so as governments mandate and businesses and individuals voluntarily shift to less carbon-intensive energy sources. According to CoBank[1], renewable diesel offers the most exciting growth opportunity in the biofuels space.
Camber's obligation to close the transaction is conditional on a number of items set out in the Membership Interest Purchase Agreement, and there is no guaranty the conditions will be satisfied.
Additional details regarding the proposed transaction were included in Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on January 23, 2023, and is available under "investors" - "SEC filings" at www.camber.energy.
About Camber:
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387
[1] See CoBank reported dated on or about September 27, 2022: https://cobank.com/documents/7714906/7715335/BiofuelOutlook-Sept2022.pdf/1cd5bad1-22c8-be9f-e3a0-ebac356ded70?t=1664298749219
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/736205/Camber-Energy-Signs-Agreement-to-Acquire-Renewable-Diesel-Facility
HOUSTON, TX / ACCESSWIRE / January 4, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), is pleased to announce that on January 3, 2023 it received a letter from the NYSE American LLC (the "Exchange") advising that the deficiency set forth in the Exchange's notification letter to the Company on November 7, 2022 has now been resolved and the Company is back in compliance with the Exchange's continued listing standards set forth in Section 1003(f)(v) of the NYSE American Company Guide.
Additional details regarding the communication from the Exchange were included in, and the description above is qualified in its entirety by Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on January 4, 2023, which is available under "investors" - "SEC filings" at www.camber.energy.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/733941/Camber-Energy-Regains-Compliance-with-Continued-Listing-Standards
HOUSTON, TX / ACCESSWIRE / December 27, 2022 / Camber Energy, Inc. (NYSE American: CEI) ("Camber" or the "Company") announced today that it entered into an agreement (the "PSA") to acquire all of the issued and outstanding membership interests (the "Purchased Interests") of certain privately-ownedcompanies (collectively, the "Acquired Companies") which in turn own interests in certain oil and gas properties and related equipment and other tangible personal property, including working interests in approximately one hundred sixty nine (169) proved producing oil wells (producing approx. two thousand (2,000) barrels of oil per day (net)), one hundred seventy four (174) proved non-producing wells and twelve (12) proved undeveloped well locations.
The wells produce hydrocarbons from known geological formations and reservoirs, and the seller's internal estimates of the remaining oil reserves based on recent NYMEX strip pricing, historical production rates, historical lease operating expenses and transportation differentials, indicate a total proved reserve value, on a PV10 basis, of approximately USD$185 million as at January 1, 2023.
The purchase price for the Purchased Interests is USD$69 million subject to permitted adjustments (the "Purchase Price"), payable as follows: (a) at the Seller's election, up to no more than eighty percent (80%) of the Purchase Price in cash on closing; and (b) as to the balance of the Purchase Price, by issuance to the Seller of convertible preferred stock of Camber with the following terms and characteristics: (i) Face value - $10,000 per share; (ii) convertible into common stock of Camber's at a fixed conversion price equal to the volume weighted average price of Camber's common stock during the period commencing ten business days prior to the Closing Date and ending ten business days following the Closing Date; (iii) all conversions shall be subject to a 9.99% beneficial ownership limitation; (iv) redeemable in whole or in part by Camber for cash at 110% of the face value; and (v) dividend entitlement equal to 10% of the face value, payable in shares of common stock or cash, or combination of both, at Camber's option.
The Seller's obligation to sell the Purchased Interests is conditioned on a number of items set out in the PSA, including, without limitation, receiving certain acknowledgements and/or agreements from Camber's existing senior secured lender and Camber's preferred stockholder, and Camber's obligation to purchase the Purchased Interests is conditioned on a number of items set out in the PSA, including, without limitation: (i) approval of the Board of Directors of Camber; (ii) Camber obtaining approval to increase its authorized capital; (iii) Camber obtaining an independent Estimate of Reserves and Future Revenue to the Acquired Companies' Interest in the assets of the Acquired Companies; and (iv) the Acquired Companies obtaining a new loan to facilitate payment of the cash portion of the Purchase Price due to the Seller on closing. There is no guaranty the conditions will be satisfied.
Additional details regarding the proposed transaction were included in, and the description above is qualified in its entirety by reference to the Membership Interest Purchase Agreement attached as an exhibit to, Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on December 27, 2022, and is available under "investors" - "SEC filings" at www.camber.energy.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions, an outbreak or escalation of armed hostilities or acts of war or terrorism and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.2)
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/733248/Camber-Energy-Signs-Agreement-to-Acquire-Oil-Companies-with-55M-in-Annual-Gross-Revenues
HOUSTON, TX / ACCESSWIRE / December 21, 2022 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") announced today that its 1-for-50 reverse stock split of the Company's issued and outstanding shares of common stock, par value $0.001 per share, accompanied by a corresponding decrease in the Company's authorized shares of common stock (the "Reverse Stock Split"), which the Company previously disclosed was approved by the Board of Directors on December 14, 2022, became effective as of 12:01 a.m. Central Standard Time today, and will be reflected in the marketplace as of the open of trading. In connection with the Reverse Stock Split, the Company's shares of common stock will continue to trade on the NYSE American under the symbol "CEI" but will trade under a new CUSIP number, 13200M 607.
The Reverse Stock Split, under Section 78.207 of the Nevada Revised Statutes ("NRS"), proportionally adjusted both the Company's (a) authorized shares of common stock and (b) issued and outstanding shares of common stock. As a result of the Reverse Stock Split, every 50 pre-split shares of common stock outstanding were automatically combined into one new share of common stock without any action on the part of the holders, and the number of outstanding shares of common stock was reduced from approximately 887.7 million shares to approximately 17.8 million shares. The Reverse Stock Split did not affect the par value of the common stock.
No fractional shares were issued as a result of the Reverse Stock Split, and no cash or other consideration will be paid. Instead, fractional shares resulting from the Reverse Stock Split were rounded up to the nearest whole share on a per shareholder basis.
Proportionate adjustments were made to (i) the Company's multiple series of convertible preferred stock, (ii) the Company's multiple convertible promissory notes, (iii) the Company's outstanding options, warrants, convertible debentures and other convertible securities, and (iv) the 2014 Stock Incentive Plan, the Lucas Energy, Inc. 2012 Stock Incentive Plan and the Lucas Energy, Inc. 2010 Long Term Incentive Plan, each as amended and restated to date, and other equity-based plans of the Company.
As discussed previously, the Board of Directors approved the Reverse Stock Split unilaterally, and without shareholder approval, pursuant to Section 78.207 of the NRS, solely to enable the Company to expeditiously meet the low price per share selling price requirements of the NYSE American and to reduce the risk of the Company being automatically delisted from the NYSE American due to the trading prices of its common stock falling below a price which NYSE American views as abnormally low. The Reverse Stock Split will have no effect on the Company's authorized preferred stock, except to affect, where applicable, the conversion rates and voting rights of such preferred stock. The Reverse Stock Split is expected to increase the market price per share of the Company's common stock, bringing the Company into compliance with the listing requirements of the NYSE American.
ClearTrust, LLC, Camber's transfer agent, is assisting with the Reverse Stock Split and may be contacted for further information at (813) 235-4490.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions, an outbreak or escalation of armed hostilities or acts of war or terrorism and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information:
Investors and Media:
Tel. 281.404.4387 (ext.2)
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/732582/CamberEnergy-IncAnnounces-Effectiveness-ofOne-for-Fifty-Reverse-Stock-Split
HOUSTON, TX / ACCESSWIRE / December 16, 2022 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") announced today an anticipated effective date of December 21, 2022 for its previously-announced 1-for-50 reverse stock split of the Company's issued and outstanding shares of common stock, par value $0.001 per share, accompanied by a corresponding decrease in the Company's authorized shares of common stock (the "Reverse Stock Split"). Following effectiveness of the Reverse Stock Split, which the Company expects to occur as of open of the market on December 21, 2022, the number of authorized shares of common stock will be reduced from 1,000,000,000 to 20,000,000.
As previously disclosed, as a result of the Reverse Stock Split every 50 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the holders, and the number of outstanding common shares will be reduced from approximately 814.4 million shares to approximately 16.3 million shares. Any fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share on a per shareholder basis. Proportionate adjustments will be made to (i) the Company's multiple series of convertible preferred stock, (ii) the Company's multiple convertible promissory notes, (iii) the Company's outstanding options, warrants, convertible debentures and other convertible securities, and (iv) the 2014 Stock Incentive Plan, the Lucas Energy, Inc. 2012 Stock Incentive Plan and the Lucas Energy, Inc. 2010 Long Term Incentive Plan, each as amended and restated to date, and other equity-based plans of the Company. The Reverse Stock Split will not affect the par value of the common stock.
The Board of Directors approved the Reverse Stock Split pursuant to Section 78.207 of the Nevada Revised Statutes ("NRS"). The Board of Directors approved the Reverse Stock Split unilaterally pursuant to Section 78.207 of the NRS, solely to enable the Company to expeditiously meet the low price per share selling price requirements of the NYSE American and to reduce the risk of the Company being automatically delisted from the NYSE American due to the trading prices of its common stock falling below a price which the NYSE American views as abnormally low. The Reverse Stock Split will have no effect on the Company's authorized preferred stock, except to affect, where applicable, the conversion rates and voting rights of such preferred stock. The Company anticipates that the effective time of the Reverse Stock Split will be before market open on December 21, 2022, with the common stock trading on a post-split basis under the Company's existing trading symbol, "CEI," at the market open on December 21, 2022 with a new CUSIP number, 13200M 607. The Reverse Stock Split is expected to increase the market price per share of the Company's common stock, bringing the Company into compliance with the listing requirements of the NYSE American.
ClearTrust, LLC, Camber's transfer agent, will act as the exchange agent for the reverse stock split. Please contact ClearTrust, LLC for further information at (813) 235-4490.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions, an outbreak or escalation of armed hostilities or acts of war or terrorism and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information:
Investors and Media:
Tel. 281.404.4387 (ext.2)
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/732249/Camber-Energy-Inc-Announces-Earlier-Effective-Date-for-One-for-Fifty-Reverse-Stock-Split
HOUSTON, TX / ACCESSWIRE / December 15, 2022 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") announced today that its Board of Directors on December 14, 2022 approved a 1-for-50 reverse stock split of the Company's issued and outstanding shares of common stock, par value $0.001 per share, accompanied by a corresponding decrease in the Company's authorized shares of common stock (the "Reverse Stock Split"), such that, following the consummation of the Reverse Stock Split, the number of authorized shares of common stock will be reduced from 1,000,000,000 to 20,000,000. The reverse stock split is anticipated to be effective as of the open of the market on December 30, 2022.
As a result of the Reverse Stock Split, every 50 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the holders, and the number of outstanding common shares will be reduced from approximately 814.4 million shares to approximately 16.3 million shares. Any fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share on a per shareholder basis. Proportionate adjustments will be made to (i) the Company's multiple series of convertible preferred stock, (ii) the Company's multiple convertible promissory notes, (iii) the Company's outstanding options, warrants, convertible debentures and other convertible securities, and (iv) the 2014 Stock Incentive Plan, the Lucas Energy, Inc. 2012 Stock Incentive Plan and the Lucas Energy, Inc. 2010 Long Term Incentive Plan, each as amended and restated to date, and other equity-based plans of the Company. The Reverse Stock Split will not affect the par value of the common stock.
The Board of Directors approved the Reverse Stock Split pursuant to Section 78.207 of the Nevada Revised Statutes ("NRS"). The Board of Directors approved the Reverse Stock Split unilaterally pursuant to Section 78.207 of the NRS, solely to enable the Company to expeditiously meet the low price per share selling price requirements of the NYSE American and to reduce the risk of the Company being automatically delisted from the NYSE American due to the trading prices of its common stock falling below a price which the NYSE American views as abnormally low. The Reverse Stock Split will have no effect on the Company's authorized preferred stock, except to affect, where applicable, the conversion rates and voting rights of such preferred stock. The Company anticipates that the effective time of the Reverse Stock Split will be before market open on December 30, 2022, with the common stock trading on a post-split basis under the Company's existing trading symbol, "CEI," at the market open on December 30, 2022 with a new CUSIP number, 13200M 607. The Reverse Stock Split will increase the market price per share of the Company's common stock, bringing the Company into compliance with the listing requirements of the NYSE American.
ClearTrust, LLC, Camber's transfer agent, will act as the exchange agent for the reverse stock split. Please contact ClearTrust, LLC for further information at (813) 235-4490.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions, an outbreak or escalation of armed hostilities or acts of war or terrorism and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.2)
ir@camber.energy
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/732007/Camber-Energy-Inc-Discloses-One-for-Fifty-Reverse-Stock-Split
HOUSTON, TX / ACCESSWIRE / November 11, 2022 / Camber Energy, Inc.'s, (NYSE:American) ("Camber" or the "Company") announced that on November 7, 2022 itreceived a letter from the NYSE American (the "Exchange") advising that the Company's securities have been selling for a substantial period of time at a low price per share, which the Exchange determined to be a 30 day trading average price of less than $0.20 per share and, as a result, pursuant to Section1003(f)(v) of the NYSE American Company Guide, theCompany's continued listing is predicated on demonstratingsustained price improvement or effecting a reverse stock split ofits common stock within a reasonable period of time, which the Exchange has determined to be no later than May 7, 2023.
The Company intends to closely monitor the price of its common stock and consider available options if its common stock does not trade at a consistent level likely to result in the Company regaining compliance in a timely manner, including, if necessary, carrying out a reverse stock split (subject to stockholder approval at the Company's 2023 annual meeting, which we presently anticipate will be held in May 2023, or at an earlier special meeting of stockholders, if required to implement the terms of such reverse stock split).
The letter from the Exchange has no immediate impact on the listing of the Company's common stock, which will continue to be listed and traded on the Exchange during this period, subject to the Company's compliance with the other listing requirements of the Exchange; however, the Exchange can take accelerated delistingaction in the event that the Company's common stock trades atlevels viewed to be abnormally low. The Company's common stock will continue to trade under the symbol "CEI", but will have an added designation of ".BC" to indicate the status of the Common Stock as "below compliance". The letter from the Exchange does not affect the Company's ongoing business operations or its reporting requirements with the Securities and Exchange Commission.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions, an outbreak or escalation of armed hostilities or acts of war or terrorism and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/725291/Camber-Energy-Discloses-Communication-From-NYSEAmerican
NOA Relates to Waste Treatment Technology Using Ozone
HOUSTON, TX / ACCESSWIRE / October 31, 2022 / Camber Energy, Inc.'s, (NYSE American: CEI) ("Camber" or the "Company") majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), announced today that Viking's majority-owned subsidiary, Viking Ozone Technology, LLC ("Viking Ozone") received a Notice of Allowance from the United States Patent & Trademark Office ("USPTO") for patent application No. 17/576,801 titled "Multi-Chamber Medical Waste Ozone-Based Treatment Systems and Methods". A Notice of Allowance is issued after the USPTO makes the determination that a patent should be granted from an application. A patent from the recently allowed application is expected to be issued in the coming months.
The pending patent relates to Viking Ozone's proprietary methods and devices utilizing Ozone-based treatments. Viking is expected to use this technology within waste treatment and disposal systems, including systems used in hospitals, prisons, laboratories, military bases and care centers.
The global medical waste management market size was valued at USD 21.0 billion in 2016 and is expected to grow at a CAGR of 5.4% to 2025, according to industry analyst Grand View Research.[1]
Continued use of certain existing treatment, disposal and recycling procedures increases the risk of harmful gases and compounds such as mercury and oxides being released into the atmosphere, which contribute to land, air and water pollution and may result in the spread of possible cancer-causing infectious agents. The development and adoption of advanced techniques in the treatment, disposal and recycling of these materials are driving industry growth.
According to the World Health Organization, the management of health-care waste requires increased attention and diligence to avoid adverse health outcomes, and key elements in improving health-care waste management include favoring the safe and environmentally sound treatment of waste, and selecting safe and environmentally-friendly management treatment and disposal options.[2]
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patent pending, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
[1] https://www.grandviewresearch.com/industry-analysis/medical-waste-management-market
[2] https://www.who.int/news-room/fact-sheets/detail/health-care-waste
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/722990/Camber-Energys-Subsidiary-Announces-Notice-of-Allowance-forPatent