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Texhoma Energy, Inc. (TXHE)

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Last Post: 11/29/2016 12:08:39 PM - Followers: 147 - Board type: Free - Posts Today: 0
 
Texhoma Energy

SPRING, Texas, July 1, 2014 /PRNewswire/ -- Texhoma Energy Inc. ("Texhoma") (OTC Pink: TXHE) announced that it has signed a letter of intent (LOI) with Southridge Partners II, LP, ("Southridge"), an institutional investor, outlining terms for an equity purchase agreement (EPA) in the amount of $5 million, which if funded, will create significant growth capital to Texhoma.

Under terms of the LOI, upon execution of the EPA, and subject to certain closing conditions (including those described below), Texhoma will have the right, not the obligation to sell, from time to time, up to $5 million of its common stock to Southridge at a discount to the then trading price of its common stock, under terms deemed favorable by management, by submitting a Draw Down Notice in an amount that the company determines.

Prior, Texhoma will need to have obtained effectiveness of a Form S-1 registration statement with the SEC, which process it plans to initiate in 2014, funding permitting. 

"We are pleased to be partnering with Southridge, an institutional investor with a long, reliable history of providing capital to the small cap space. We believe that the terms of this agreement are favorable to our shareholders and provide Texhoma with the best opportunity to execute its business plan and deliver long-term shareholder value and are thankful for the confidence Southridge has shown in Texhoma," commented Gilbert Steedley, CEO of Texhoma.

"Texhoma Energy, Inc., with its recent collaboration agreements and its progress in improving its debt to asset ratio, provided us with the confidence necessary to commit to provide growth capital. We are excited to partner with Texhoma and its seasoned management as they execute their strategy," commentedStephen Hicks, Principal and CEO of Southridge.

The closing of the transactions is subject to the parties entering into definitive agreements, Texhomabecoming a fully-reporting company and filing a registration statement to register the shares issuable in connection with the EPA, among other things, the timing and final terms and conditions of which are currently uncertain and may not be completed.

About Southridge 
Southridge is a diversified financial holdings company that specializes in funding and advising small cap and growth companies in the public markets. Since 1996, the structured finance team at Southridge has made direct investments of over $1.75 Billion in over 300 companies globally. Southridge advises smallpublic companies on a wide variety of corporate issues from the process of becoming a public company, to individualized financing techniques, to optimized balance sheet management. For further information about Southridge, visit www.southridge.com.

About Texhoma Energy, Inc. 
Texhoma is engaged in the acquisition, exploration and production of oil and natural gas. The company seeks to replenish its oil/gas holdings in accordance with its oil/gas tradition as well as other non-oil/gas opportunities as they arise.  For further information about Texhoma, visit www.texhomaenergy.com.

Contact information 
Texhoma Energy, Inc. 
24624 I-45 North, Suite 200? 
Spring, TX 77386 
Phone: 281 719 1995 
Email: contact@texhomaenergy.com

This press release may contain forward-looking statements, including information about management's view of Texhoma's future expectations, plans and prospects. When used in the preceding discussion, the words "believes," "expects," "intends," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release, including those regarding the LOI/EPA, Texhoma's plans to become fully-reporting, file a registration statement and raise funds pursuant to the LOI/EPA, other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Texhoma, its divisions and concepts to be materially different than those expressed or implied in such statements. The forward-looking statements included in this press release are made only as of the date hereof. Texhoma cannot guarantee future results, levels of activity, performance or achievements. Do not place undue reliance on these forward-looking statements.Texhoma undertakes no obligation to update these statements, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by Texhoma.

SOURCE Texhoma Energy, Inc.

Copyright 2014 PR Newswire
 

TXHE Share Structure

Authorized Shares 2,500,000,000 a/o Jun 30, 2016
  Outstanding Shares 1,406,231,000 a/o Jun 30, 2016

 

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#6498   Any chance this company invest in medicinal marijuana?? Raff2014 11/29/16 12:08:38 PM
#6497   Hi, just checking in. Did they reply? Thank you Adam Adamac45 11/26/16 01:24:08 PM
#6496   I contacted them. Lets see if they reply. Cads4life12 11/17/16 03:23:02 PM
#6495   I agree. Hoping for updates. Cads4life12 11/17/16 03:19:12 PM
#6494   DRILL WOLFCAMP WOULD BE GREAT ! seriousonly 11/17/16 01:44:39 PM
#6493   Trust me, I would love nothing more than economics101 11/15/16 01:17:20 PM
#6492   Please don't say that on this board you bscot 11/15/16 11:55:39 AM
#6491   Even calling it a company is a bit economics101 11/15/16 11:30:38 AM
#6490   not the oil its the company that aint bscot 11/15/16 11:08:52 AM
#6489   Cmon oil gods give us some volume! MachiavelliMoneyManagers 11/15/16 04:43:30 AM
#6488   Something is better than nothing traded. Let see Nosterhout 11/10/16 11:41:57 PM
#6487   Two straight days of volume, albeit only $50 economics101 11/10/16 11:03:07 PM
#6486   Fingers crossed. Let's see what happens. Nosterhout 11/10/16 06:13:09 PM
#6485   Trump wants to bring millions of energy sector MachiavelliMoneyManagers 11/10/16 03:54:45 PM
#6484   I think that what most of us a Nosterhout 11/09/16 10:23:13 AM
#6483   Thanks for the reply Nosterhout. I guess there's economics101 11/09/16 09:22:42 AM
#6482   I emailed them a few months ago and Nosterhout 11/09/16 08:15:21 AM
#6481   Anyone have any luck contacting TXHE? They haven't economics101 11/08/16 06:41:24 PM
#6480   That'd be one thing if the ask was Spilledpaintstudios 11/01/16 11:46:15 PM
#6479   Beer money. jmorexxnet 11/01/16 09:27:41 PM
#6478   Could be a good sign MachiavelliMoneyManagers 11/01/16 01:50:33 PM
#6477   What do you think about the potential this MachiavelliMoneyManagers 11/01/16 01:48:05 PM
#6476   Ask down to 12.7million... Spilledpaintstudios 11/01/16 10:28:52 AM
#6475   TXHE 0.0001 trader53 10/20/16 06:40:17 AM
#6474   We can only hope. We have seen some Nosterhout 10/06/16 05:32:59 AM
#6473   some movement today and in the past week.NEXT RUNNER? Cads4life12 10/05/16 02:42:11 PM
#6472   $TXHE Trader's Cheat Sheet http://www.barchart.com $Pistol Pete$ 10/02/16 01:52:37 PM
#6471   Someone screwed up FUBAR 09/30/16 07:49:08 PM
#6470   What do you mean by that? economics101 09/30/16 05:49:00 PM
#6469   Fat finger?? pxxpy7 09/30/16 04:23:19 PM
#6468   Yeah I figured it wouldn't last long. But Nosterhout 09/30/16 01:44:13 PM
#6467   Back to reality... economics101 09/30/16 01:10:13 PM
#6466   We dropped back down again. Let see if Nosterhout 09/30/16 12:57:11 PM
#6465   Finallyyyy lets gooooo a21694 09/30/16 12:49:19 PM
#6464   Oil prices are going up e2daD 09/30/16 12:33:40 PM
#6463   Right. Let see what can happen from here. Nosterhout 09/30/16 12:31:16 PM
#6462   Our eTrade accounts look good for a change :( economics101 09/30/16 12:30:28 PM
#6461   Can't find any news updates anywhere. Nothing on economics101 09/30/16 12:29:48 PM
#6460   Oh crap. What did I miss. We Nosterhout 09/30/16 12:19:13 PM
#6459   ad on my i-hub I just noticed. folks cuthy 09/30/16 12:18:23 PM
#6458   Yeah I'm still seeing 17k as well. Probably economics101 09/30/16 11:59:33 AM
#6457   Thats what I thought too, but still got vlay 09/30/16 11:49:57 AM
#6456   Almost as if a reverse split has happened economics101 09/30/16 11:37:57 AM
#6455   Something is clearly wrong. We can't sell. economics101 09/30/16 11:32:42 AM
#6454   still no bid fat finger maybe? cuthy 09/30/16 11:13:19 AM
#6453   Anyone know what's going on today?? Just started K_Thomas 09/30/16 11:07:04 AM
#6452   Wondering why my account jumped so high! roytoy6969 09/30/16 10:51:49 AM
#6451   Who knows, maybe the new CEO has something MachiavelliMoneyManagers 09/20/16 02:49:46 AM
#6450   Hi guys. Also been here since November... let's hope MachiavelliMoneyManagers 09/20/16 02:48:50 AM
#6449   It has been almost a year (this Nov) Nosterhout 09/19/16 09:03:18 PM
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