AUSTIN, Texas, July 20, 2015 /PRNewswire/ -- FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today provided additional information on its temporary reduction to the exercise price of its publicly traded warrants (the "Warrants"). The Warrants were issued as a dividend to the holders of its common stock on March 26, 2012 and currently trade on the NYSE MKT under the ticker symbol "FPP WS".
The issuance of shares of the Company's common stock upon exercise of the Warrants ("Warrant Shares") has been registered under the Securities Act of 1933, as amended in a Registration Statement on Form S-3, SEC File No. 333-180419.
The Warrants are exercisable to purchase shares of the Company's common stock at the price of $4.00 per share. The Company's Board of Directors has approved a temporary modification pursuant to which for a period of 33 days commencing at the opening of trading on July 6, 2015 and ending at the close of trading on August 7, 2015 (the "Modification Period"), the Exercise Price of the Warrants shall be reduced to $1.00 per share of Common Stock (the "Warrant Modification"). Any and all Warrants remaining unexercised after the expiration of the Modification Period shall remain in full force and effect for the duration of their term with the Initial Exercise Price being reinstated following such Modification Period.
The following information is provided for Warrant holders desiring to take advantage of this temporary reduction in exercise price:
For investors who hold the Warrant certificates themselves, you need only fill in the information under NOTICE OF EXERCISE on the back of the Warrant certificate and send the certificate, along with payment of $1.00 (by certified check or official bank check) for each of the shares being purchased, to the transfer agent at the address below. You will receive a stock certificate for the number of shares exercised, along with a new Warrant certificate for any unexercised shares.
Computershare Voluntary Offers
250 Royall Street, Suite V
Canton, MA 02021
For investors whose Warrant certificates are held by a brokerage firm, please inform your broker of your desire to exercise part or all of the Warrants. You may also want to make sure that your broker has the proper address above.
If you have any questions regarding the exercise of these Warrants, please feel free to contact the Company for assistance.
FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming. For more information, please visit www.fppcorp.com.
This press release may contain projection and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Any such projections or statement reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and natural gas prices and unexpected decreases in oil and natural gas production is included in the company's periodic reports filed with the Securities and Exchange Commission (at www.sec.gov)
SOURCE FieldPoint Petroleum Corporation