PGRX Announces 50 for 1 Reverse Stock Split

DENVER--(BUSINESS WIRE)-- Prospect Global Resources Inc. (NAS: PGRX) ("Prospect Global" or the "Company") announces that its board and shareholders have approved a reverse stock split at an exchange ratio of 50 for 1. The number of authorized shares of common stock will not change. The reverse stock split will be effective at the opening of trading on Wednesday, September 4, 2013. The common stock will continue to trade on the Nasdaq National Market under the same symbol (PGRX).

When the reverse stock split becomes effective, every 50 shares of issued and outstanding common stock will automatically be combined into one share of issued and outstanding common stock without any change in the par value per share. Stockholders will not receive fractional post-reverse stock split shares in connection with the reverse stock split; fractional shares will be rounded up.


Regarding Forward-Looking Statements

With the exception of historical matters, the matters discussed in this press release include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from projections or estimates contained herein. Such forward-looking statements include statements regarding current and future classification of Prospect Global's potash resources, development of its potash resources and potash mining facility and the Pre-Feasibility Study. Factors that could cause actual results to differ materially from projections or estimates include, among others, potash prices, economic and market conditions, and the additional risks described in Prospect Global's filings with the SEC, including Prospect Global's Annual Report on Form 10-K/A for the year ended March 31, 2013. Most of these factors are beyond Prospect Global's ability to predict or control. The forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Prospect Global does not assume any obligation to update any forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements.

About Prospect Global Resources Inc.

Prospect Global Resources Inc. is a Denver-based company engaged in the exploration and development of a potash mine located in the Holbrook Basin of eastern Arizona. Prospect Global's stock is traded on the NASDAQ Capital Market under the ticker symbol PGRX.

Additional details about Prospect Global Resources Inc. can be viewed at the Company's website, www.prospectgri.com .



Prospect Global Resources Inc.
Gregory M. Dangler, Interim CFO
+1 (303) 990-8444

KEYWORDS:   United States  North America  Colorado

INDUSTRY KEYWORDS:

The article PGRX Announces 50 for 1 Reverse Stock Split originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Investment Strategies

What's your investing game plan?

View Course »

What Is Your Risk Tolerance?

Answer the question "What type of investor am I?".

View Course »

Add a Comment

*0 / 3000 Character Maximum