This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FieldPoint Petroleum Announces Dividend In The Form Of Common Stock Purchase Warrants

AUSTIN, Texas, Dec. 19, 2011 /PRNewswire/ -- FieldPoint Petroleum Corporation (AMEX:FPP) announced today that on November 18, 2011 its Board of Directors approved a dividend to shareholders of record at the close of business on December 30, 2011 (the "Record Date"). 

The Warrant shall grant the holder the right to purchase one additional share of Common Stock for each share held on the Record Date, for a period of six years, at an exercise price of $4.00 per share. The Company will file a Registration Statement on Form S-3 registering the shares of Common Stock issuable upon exercise of the Warrants (the "Registration Statement"). The Warrant will be distributed only upon the Registration Statement being declared effective by the SEC.  No prediction can be made when that distribution will occur.

Payment of the dividend should have no tax consequences for the shareholder at the time of grant.  

Also, the Company is applying to have the Warrants approved to list and trade on the NYSE-AMEX exchange separately from the Common Stock.

FieldPoint President and CEO Ray D. Reaves said, "I am extremely pleased that we have found a way to reward our loyal shareholders in a manner that allows them to further share in the future successes of FieldPoint without having to make a financial commitment today." 

More Details Regarding the Warrant:

The dividend will consist of one (1) newly authorized Common Stock Purchase Warrant (the "Warrant") to be distributed for every one (1) share of the Company's Common Stock owned as of the Record Date.  Following the Record Date, the Company's Common Stock will trade ex-dividend on the Amex Exchange.  The Company has the right to call the Warrant for redemption in the future under certain circumstances, including the requirement that the market price of the Common Stock equal or exceed 150% of the exercise price of the Warrant ($6.00).  If the Company exercises such a redemption right, holders of the Warrant will have 30 days to exercise the Warrants.  Holders would be under no obligation to exercise the Warrants but would surrender them if they choose not to do so.

FieldPoint Petroleum Corporation is engaged in oil and gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming.  For more information, please visit www.fppcorp.com.

This press release may contain projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Any such projections or statement reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and gas prices and unexpected decreases in oil and gas production is included in the company's periodic reports filed with the Securities and Exchange Commission (at www.sec.gov).

 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,751.78 +0.39 0.00%
S&P 500 2,107.25 -1.32 -0.06%
NASDAQ 5,123.83 +12.0970 0.24%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs