HOUSTON, Sept. 13, 2017 /PRNewswire/ -- Yuma Energy,
Inc. (NYSE American: YUMA) (the "Company" or "Yuma") today
announced that it has commenced an underwritten public offering of
its common stock. All of the shares are being offered by Yuma. In
addition, Yuma expects to grant the underwriters a 30-day option to
purchase additional shares of its common stock at the public
offering price, less underwriting discounts and commissions, to
cover over-allotments, if any. The proposed offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Yuma intends to use the net proceeds from the offering to expand
its horizontal San Andres play located in Yoakum County, Texas. Specifically, these
funds will provide for additional leasehold acquisitions in the
Permian Basin, the drilling of a San Andres horizontal well along
with a Devonian salt water disposal well and other field
infrastructure, and for general working capital purposes.
Northland Capital Markets and Euro Pacific Capital are acting as
joint book-running managers for the proposed offering.
A registration statement on Form S-1, including a prospectus,
relating to the proposed offering has been filed with the U.S.
Securities and Exchange Commission (the "SEC"), but has not
yet become effective. The shares of common stock may not be
sold, nor may offers to buy be accepted, prior to the time the
registration statement becomes effective.
The proposed offering will be made only by means of a
prospectus. Copies of the prospectus may be obtained by contacting
Northland Capital Markets at 45 South Seventh Street, Suite 2000,
Minneapolis, Minnesota 55402, by
calling toll free at (800) 851-2920, or by
e-mailing cgoltermann@northlandcapitalmarkets.com or Euro
Pacific Capital at 1201 Dove Street, Suite 200, Newport Beach, California 92660, attention:
Jayson Schroeder, by calling toll
free at (800) 727-7922, or by e-mailing jschroeder@europac.net.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Yuma Energy, Inc.
Yuma Energy, Inc. is an independent Houston-based exploration and production
company focused on acquiring, developing and exploring for
conventional and unconventional oil and natural gas
resources. Historically, Yuma's operations have focused on
onshore properties located in central and southern Louisiana and southeastern Texas where it has a long history of drilling,
developing and producing both oil and natural gas assets. More
recently, Yuma has begun acquiring acreage in Yoakum County, Texas, with plans to explore
and develop oil and natural gas assets in the Permian Basin.
Finally, Yuma has operated positions in Kern County, California, and non-operated
positions in the East Texas Woodbine and the Bakken Shale in
North Dakota. Yuma's common stock
is listed on the NYSE American under the trading symbol "YUMA."
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"). Statements that are
not strictly historical statements constitute forward-looking
statements and may often, but not always, be identified by the use
of such words as "expects," "believes," "intends," "anticipates,"
"plans," "estimates," "potential," "possible," or "probable" or
statements that certain actions, events or results "may," "will,"
"should," or "could" be taken, occur or be achieved. Examples of
forward-looking statements include, among others, statements
relating to Yuma's expectations regarding the completion, timing
and size of the proposed public offering, its expectations with
respect to granting the underwriters a 30-day option to purchase
additional shares, and its intentions with respect to the use of
net proceeds from the proposed offering. Forward-looking statements
are neither historical facts nor assurances of future performance.
Instead, they are based on current expectations and assumptions and
analyses made by the Company in light of experience and perception
of historical trends, current conditions and expected future
developments, as well as other factors appropriate under the
circumstances. Forward-looking statements involve risks and
uncertainties, which could cause actual results to differ
materially, and reported results should not be considered as an
indication of future performance. These risks and uncertainties
include, but are not limited to, those relating to completion of
the public offering on the anticipated terms or at all, market
conditions, the satisfaction of conditions to the closing of the
proposed offering, and other risks set forth in Yuma's filings with
the SEC, including the risks set forth in Yuma's annual report
on Form 10-K for the year ended December 31,
2016, recent quarterly reports on Form 10-Q, recent current
reports on Form 8-K, and other SEC filings that discuss the risks
that may affect its business, results of operations, and financial
condition. Yuma undertakes no obligation to revise or update
publicly any forward-looking statements, except as required by
law.
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SOURCE Yuma Energy, Inc.