Hi-Crush Partners LP Announces Adjournment of Special Unitholder Meeting to May 22, 2019
April 10 2019 - 3:25PM
Hi-Crush Partners LP (NYSE: HCLP), "Hi-Crush" or the "Partnership",
today announced that its general partner, Hi-Crush GP LLC, plans to
adjourn the special unitholder meeting scheduled for April 11, 2019
once it convenes. The special meeting will be scheduled to
reconvene at 9:00 a.m. local time on May 22, 2019, at 1330 Post Oak
Blvd., Houston, Texas 77056.
The adjournment will allow unitholders
additional time to cast their votes or submit their proxy on the
proposals to approve the Plan of Conversion, pursuant to which the
Partnership would effect its proposed conversion from a Delaware
limited partnership to a Delaware corporation (the "Conversion"),
and approve the Hi-Crush Inc. Long Term Incentive Plan to be in
effect following the consummation of the Conversion (the "LTIP
Proposal").
"We appreciate all of the unitholders who have
cast their votes to-date and are pleased with the results so far,
which is overwhelmingly in favor of the Conversion and the LTIP
Proposal," said Robert E. Rasmus, Chairman and Chief Executive
Officer of Hi-Crush. "The adjournment of the special unitholder
meeting allows more unitholders to exercise their vote, and remains
in line with our plan to effect the Conversion by the end of the
second quarter of 2019."
Partnership unitholders who have not voted but
wish to do so, or who have questions about the Conversion or the
LTIP Proposal, should contact Georgeson, which is assisting the
Partnership with the solicitation of proxies, by calling toll-free
at 1-877-797-1153.
About Hi-Crush
Hi-Crush is a fully integrated, strategic
provider of proppant and logistics solutions to the North American
petroleum industry. We provide mine-to-wellsite logistics services
that optimize proppant supply to customers in all major oil and gas
basins in the United States, and own and operate multiple frac sand
mining facilities and in-basin terminals. Our
PropStream® service, offering both container- and silo-based
wellsite delivery and storage systems, provides the highest level
of flexibility, safety and efficiency in managing the full scope
and value of the proppant supply chain. Visit HiCrush.com.
Forward-Looking Statements
Some of the information in this news release may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended (the "Exchange
Act"). Forward-looking statements give our current expectations,
and contain projections of results of operations or of financial
condition, or forecasts of future events. Words such as "may,"
"should," "assume," "forecast," "position," "predict," "strategy,"
"expect," "intend," "hope," "plan," "estimate," "anticipate,"
"could," "believe," "project," "budget," "potential," "likely," or
"continue," and similar expressions are used to identify
forward-looking statements. They can be affected by assumptions
used or by known or unknown risks or uncertainties. Consequently,
no forward-looking statements can be guaranteed. When considering
these forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in Hi-Crush’s reports filed
with the SEC, including those described under Item 1A of Hi-Crush’s
Form 10-K for the year ended December 31, 2018 and any
subsequently filed 10-Q. Actual results may vary materially. You
are cautioned not to place undue reliance on any forward-looking
statements. You should also understand that it is not possible to
predict or identify all such factors and should not consider the
risk factors in our reports filed with the SEC or the following
list to be a complete statement of all potential risks and
uncertainties. Factors that could cause our actual results to
differ materially from the results contemplated by such forward
looking statements include: the volume of frac sand we are able to
sell; the price at which we are able to sell frac sand; the outcome
of any pending litigation, claims or assessments, including
unasserted claims; changes in the price and availability of natural
gas or electricity; changes in prevailing economic conditions;
difficulty collecting receivables; statements regarding the
Conversion; descriptions of our operations and anticipated future
performance following the Conversion; and the risk that we may be
unable to obtain unitholder approval for the Conversion or achieve
expected benefits of the Conversion, or that it may take longer
than expected to achieve those benefits. All forward-looking
statements are expressly qualified in their entirety by the
foregoing cautionary statements. Hi-Crush’s forward-looking
statements speak only as of the date made and Hi-Crush undertakes
no obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
Investor contact:Caldwell
Bailey, Lead Investor Relations AnalystMarc Silverberg,
ICRir@hicrush.com(713) 980-6270
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