Texcom Announces Conversion of Preferred Shares to Common Shares

HOUSTON, Sept. 30, 2014 /PRNewswire/ -- Texcom, Inc. (OTC Pink: TEXC)(the "Company" or "Texcom"), an environmental services company serving the oil and gas industry, today announced that its previously announced offer to holders of its Series A Convertible Preferred Stock ("Preferred Stock") to pay all accrued and unpaid dividends on the Preferred Stock through September 30, 2014 and to convert all of the outstanding shares of Preferred Stock into shares of the Company's common stock, $0.001 par value per share ("Common Stock"), has been approved by over 80% of the holders of the Preferred Stock, well above the two-thirds majority required. Accrued dividends through September 30, 2014, totaling $3,246,000 will be paid to the holders of the outstanding shares of Preferred Stock and each share of Preferred Stock outstanding will be automatically converted into two-tenths of a share of Common Stock, effective September 30, 2014. The 2,028,750 shares of Preferred Stock will be converted into an aggregate of 405,750 shares of the Company's Common Stock increasing the Company's outstanding Common Stock to approximately 11,520,000 shares.

"With the conversion of the Preferred Stock to Common Stock, we now have a clean balance sheet and have resolved all of the Company's legacy challenges. We can now focus all of our attention on strategic acquisitions and improving operating performance," stated Bob May, President of the Company.

About Texcom, Inc.

Texcom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil and gas industry. For more information, please visit www.Texcomresources.com.

Forward-Looking Statements

This press release and the presentation referenced above may contain forward-looking statements, including information about management's view of Texcom, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release or such presentation other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Texcom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Texcom's future results. The forward-looking statements included in this press release and the presentation are made only as of the date hereof. Texcom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Texcom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Texcom.

SOURCE Texcom, Inc.