DALLAS, TX, May 13, 2013 (GLOBE NEWSWIRE) -- Red Mountain Resources, Inc. (OTCQB : RDMP.QB) (the "Company") announced today that it plans to offer 30,000,000 shares of its common stock in an underwritten public offering, subject to market conditions. The Company intends to use the net proceeds from the offering to repay outstanding indebtedness and to fund drilling and development of its properties.
The offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with, and subsequently declared effective by, the Securities and Exchange Commission (the "SEC"). Global Hunter Securities, LLC is acting as lead managing underwriter and sole book-runner of the offering. Wunderlich Securities Inc. and C.K. Cooper & Company are acting as co-managers for the offering.
This offering is being made only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website located at www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Global Hunter Securities, 777 Third Avenue, 22nd Floor, New York, NY 10017 (or by telephone at 646-264-5600).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Red Mountain Resources, Inc.
Red Mountain Resources, Inc. is a Dallas-based growth-oriented
energy company engaged in the acquisition, development and
exploration of oil and natural gas properties in established basins
with demonstrable prolific producing zones. Currently, the
Company has established acreage positions and production in the
Permian Basin of West Texas and Southeast New Mexico and the
onshore Gulf Coast of Texas. Additionally, the Company has an
established and growing acreage position in Kansas. For more
information, please go to www.RedMountainResources.com.
Safe Harbor Statement
This press release contains forward-looking information, including
information regarding the proposed offering. Readers are cautioned
not to place undue reliance on any such forward-looking statements,
each of which speaks only as of the date made. Such statements are
subject to certain risks and uncertainties which are disclosed in
the Company's reports filed with the SEC, including its Form 10-K
for the fiscal year ended May 31, 2012, its Form 10-Q for the
quarter ended February 28, 2013 and its other filings with the SEC.
These risks and uncertainties could cause actual results to differ
materially from those currently anticipated or projected.
A file accompanying this release is available at:
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