American Energy Partners, Inc. (OTC Pink: XFULD), formerly known as Converde Energy USA, Inc., is engaged as a diversified energy company. Shares of the energy producer are skyrocketing 156.76%, through early trading on Friday, August 18, 2017. Over the past month, the company has seen no volume. However, volume of 20,100 shares or dollar volume of $3,819, has already exchanged hands during trading on Friday.
Shares of American Energy Partners, Inc. are rallying today, after the company announced that it has received approval from FINRA and the SEC to change the company’s name from Converde Energy Partners, Inc. to American Energy Partners, Inc. and a corresponding ticker symbol change to “AEPT.” However, the company will trade under its temporary symbol, “XFULD” for the next 20 business days. The change will also feature a 1-for-20 reverse stock split. Here is the full press release detailing of the name and ticker change:
American Energy Partners, Inc. Press Release:
Allentown, Pennsylvania. August 17, 2017 – Converde Energy USA, Inc. (OTC: XFUL) (the “Company”, “Converde Energy” or “XFUL”), a diversified energy company, today announces that the Financial Industry Regulatory Authority, Inc. (“FINRA”) has approved the Company’s plan of conversion which resulted in its new company name, American Energy Partners, Inc., now incorporated in Colorado. The Securities & Exchange Commission (“SEC”) also approved American Energy Partners’ new ticker symbol, AEPT.
The name change of “Converde Energy USA, Inc.” (XFUL) to “American Energy Partners, Inc.“ and the 1-20 reverse split and the domicile change from Nevada to Colorado will be announced 8/16/2017 on FINRA’s Daily List.
The name/domicile change & reverse split will take effect at the open of business 8/17/2017. The new symbol will be XFULD. The “D” will be removed in 20 business days and the symbol will change to AEPT.
Within the conversion plan concurrently implemented, Converde Energy Class A Common Stock shareholders received one share of American Energy Partners for every 20 shares they owned of Converde Energy and Converde Energy Class B Common Stock shareholders received one share of American Energy Partners for every 20 shares they owned of Converde Energy.
“These approvals represent the official rebranding of American Energy Partners, and from here we will continue to work to solidify our message and keep our shareholders up-to-date on our progress,” states American Energy Partner’s chairman and CEO, Brad Domitrovitsch. “The foundation is now laid and we look forward to building on the momentum gained with these achievements.”
American Energy Partners, Inc. (AEPT)
AEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.
Hydration Corporation of PA, LLC (“HCPA”) is engaged in the businesses of water exploration, water augmentation, and the treatment of impacted waters. Notably, its intellectual property delivers one of the highest energy yields from a broad range of water-bearing assets, with one of the lowest capital expenditures of any other known water processes. American Energy Solutions, LLC provides treatment technologies that contribute to HCPA’s business model of low-cost treatment and distribution. As a provider of design, this subsidiary is capable of repeatable and synergistic services across the value chain. Gilbert Oil & Gas Company is leveraging broad industry valuation experience to source drilling, operating, and partnership opportunities in the upstream oil and gas space. It is positioned to become a strong customer of AEPT’s other subsidiaries while providing them with the foundation to attract other customers and enter new markets.
For additional information, visit: http://americanenergy-inc.com
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT’s expectations and estimates.