PGRX Announces 50 for 1 Reverse Stock Split
DENVER -- September 4, 2013
Prospect Global Resources Inc. (NASDAQ: 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
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
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