ALLENTOWN, Pennsylvania, July 11, 2019 /PRNewswire/ -- American Energy Partners, Inc. ("American Energy") (PINK: AEPT), a company dedicated to delivering solutions wherever energy production and water meet technology, agreed to acquire 100% of the membership interests in Hickman Geological Consulting, LLC in exchange for 40,500,000 shares of American Energy's preferred shares equal to approximately 5% of American Energy's outstanding common stock. American Energy reserves the right to repurchase these preferred shares prior to any other third parties.
While Josh Hickman, the owner of Hickman Geological Consulting, LLC, is on American Energy's board of directors, the transaction was approved by the Board of Directors after determining, in good faith, that the acquisition is in the best interests of American Energy since the acquisition will immediately contribute to top-line revenue.
The addition of Hickman Geological Consulting to American Energy's group of subsidiaries expands American Energy's services with in-house valuation of Oil & Gas assets, mineral buying advisement, A&D diligence and advisement, leasing and negotiations, as well as Oil & Gas exploration. The transaction provides a solid foundation to build upon inside energy services.
This acquisition represents only one of a series of acquisitions planned for the future. This acquisition marks the beginning of American Energy's buy and build strategy. For additional information, visit: Hickman Geological Consulting, LLC.
Brad Domitrovitsch, CEO of American Energy commented, "As a Company, we all worked diligently over the past few weeks to evaluate this acquisition with great diligence and care." He further commented, "I would like to thank both Josh and Jessica Hickman, as well as the team that worked so hard to make this acquisition possible."
Josh Hickman, Founder of Hickman Geological Consulting, LLC also commented, "This company was built from the ground up with my wife, Jessica. It is family owned and operated and joining the American Energy family of companies will ensure that our efforts will be rewarded in the many years to come."
American Energy expects to complete the transfer of all assets and interests within the next week and will announce the completion of this acquisition at such time.
American Energy Partners, Inc. (AEPT)
AEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.
For additional information, visit: American Energy Partners, Inc.
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT's financial position and business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think", "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders 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, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT's expectations and estimates.
SOURCE American Energy Partners, Inc.