Torchlight Regains Compliance With Nasdaq Listing Requirements saltlakecitysun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltlakecitysun.com Daily Mail and Mail on Sunday newspapers.
Torchlight Energy Resources, Inc.: Torchlight Regains Compliance With Nasdaq Listing Requirements
PLANO, TX / ACCESSWIRE / January 25, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH)
( Torchlight or the Company ), today announced receipt of a letter from The Nasdaq Stock Market ( Nasdaq ) stating that the Company has regained compliance with Listing Rule 5550(a)(2), the $1.00 minimum bid price listing requirement. Accordingly, Torchlight has been removed from Nasdaq s non-compliance list, and the matter is now closed. We are pleased that Torchlight has regained compliance with the Nasdaq s listing requirements, stated John Brda, CEO of Torchlight. This is very positive for Torchlight stockholders.
About Torchlight Energy
Torchlight Energy Resources, Inc. (NASDAQ:TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company
Torchlight Energy Resources, Inc.: Torchlight Senior Secured Lender Converts $4 Million of Senior Debt
PLANO, TX / ACCESSWIRE / January 22, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ( Torchlight ), announced today that the David A. Straz, Jr. Foundation has converted $4 million of its senior secured note of Torchlight, representing the entire principal amount of its debt position in Torchlight, into common stock. The conversion price for the conversion was $1.50 per share. Torchlight still owes $8.5 million in senior secured debt to the David A. Straz, Jr. Irrevocable Trust. We are very pleased with this development on the senior secured debt position, stated John Brda, CEO of Torchlight. We have made significant strides over the last couple of months in cleaning up our balance sheet with the elimination of over $8 million of debt. We certainly appreciate the long-term support of the Straz foundation and trust.
Torchlight Senior Secured Lender Converts $4 Million of Senior Debt saltlakecitysun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltlakecitysun.com Daily Mail and Mail on Sunday newspapers.
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PLANO, TX / ACCESSWIRE / January 21, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH)
( Torchlight or the Company ), today reported that Masterson Hazel Partners LP ( Masterson ) has notified the Company of its intent to exercise its option to perform operations, at Masterson s sole cost and expense, on Torchlight s Hazel Project, as set out under the Option Agreement, dated August of 2020, between Torchlight, Masterson and the McCabe Petroleum Corporation. Masterson will conduct operations sufficient to satisfy Torchlight s continuous development obligations on the northern half of the Hazel Project, which will keep the leases current while flowback and cleanup continues on the Flying B Ranch #4H well.