HOUSTON, TX, Oct. 20, 2023 (GLOBE NEWSWIRE) — Prairie Working Co. (OTCQB: CRKR; the “Firm”), is happy to announce the execution of its possibility to accumulate the remaining Exok, Inc. (“Exok”) belongings positioned in Weld County, Colorado. At the side of executing this feature, the Firm closed on a $20 million Personal Funding in Public Fairness (“PIPE”) providing.
The Exok asset is offset by industry-leading operators and positioned inside the core of Denver-Julesburg “DJ” Basin, a premier U.S. Shale Basin. Following the closing, the Firm will management a complete of roughly 37,189 acres in Weld County, Colorado. The choice to train the choice underscores the Firm’s continued dedication to enhancing and increasing its market presence.
“I’m happy to share that the Firm has totally exercised the choice to accumulate the remaining Exok belongings, a transfer that not solely accelerates our progress but additionally strengthens our total place inside a top-tier U.S. Shale Basin,” said Chairman and CEO, Ed Kovalik. “This acquisition, coupled with the profitable closing of a $20 million PIPE providing, highlights investor confidence within the Firm’s imaginative and prescient to develop into a world-class developer of high-quality belongings.”
“We stay up for submitting our allow functions for acreage growth and getting ready each Niobrara and Codell growth applications,” added Gary Hanna, President of Prairie Working Co.
To fund the train of the Exok possibility, the Firm raised $20 million by the PIPE of its Sequence E most well-liked inventory, widespread inventory, and warrants to buy the Firm’s inventory with an current investor.
About Prairie Working Co.
Prairie Working Co. (f/ok/a Creek Highway Miners, Inc.) is a publicly-traded firm engaged within the growth, exploration, and manufacturing of oil, pure gasoline and pure gasoline liquids with operations centered on unconventional oil and pure gasoline reservoirs positioned in Colorado centered on the Niobrara and Codell formations. The Firm can be a crypto firm centered on cryptocurrency mining. The Firm is devoted to creating inexpensive, dependable vitality to satisfy the world’s rising demand, whereas persevering with to guard the setting. To be taught extra, go to www.prairieopco.com.
Ahead-Wanting Statements
The knowledge included herein and in any oral statements made in connection herewith embrace “forward-looking statements” inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. All statements, aside from statements of current or historic reality included herein, are forward-looking statements. When used herein, together with any oral statements made in connection herewith, the phrases “may,” “ought to,” “will,” “could,” “imagine,” “anticipate,” “intend,” “estimate,” “anticipate,” “undertaking,” the unfavourable of such phrases and different related expressions are meant to establish forward-looking statements, though not all forward-looking statements comprise such figuring out phrases. These forward-looking statements are based mostly on the Firm’s present expectations and assumptions about future occasions and are based mostly on at present accessible info as to the end result and timing of future occasions. Besides as in any other case required by relevant regulation, the Firm disclaims any obligation to replace any forward-looking statements, all of that are expressly certified by the statements on this part, to mirror occasions or circumstances after the date hereof. The Firm cautions you that these forward-looking statements are topic to dangers and uncertainties, most of that are tough to foretell and plenty of of that are past the management of the Firm. These dangers embrace, however aren’t restricted to, basic financial, monetary, authorized, political, and enterprise circumstances and modifications in home and overseas markets; the flexibility of the Firm to efficiently develop its belongings in Weld County, Colorado; the failure to understand the anticipated advantages of the merger with Prairie Working Co., LLC; the dangers associated to the expansion of the Firm’s enterprise and the timing of anticipated enterprise milestones; and the consequences of competitors on the Firm’s future enterprise. Ought to a number of of the dangers or uncertainties described herein and in any oral statements made in connection therewith happen, or ought to underlying assumptions show incorrect, precise outcomes and plans may differ materially from these expressed in any forward-looking statements. There could also be further dangers not at present identified by the Firm or that the Firm at present believes are immaterial that might trigger precise outcomes to vary from these contained within the forward-looking statements. Extra info regarding these and different components that will influence the Firm’s expectations may be discovered within the registration assertion on Type S-1/A filed by the Firm on July 27, 2023, and within the Firm’s periodic filings with the Securities and Change Fee (the “SEC”), together with the Firm’s Annual Report on Type 10-Okay filed with the SEC on March 31, 2023, and any subsequently filed Quarterly Report on Type 10-Q, together with the Firm’s most up-to-date Type 10-Q filed on August 14, 2023. The Firm’s SEC filings can be found publicly on the SEC’s web site at www.sec.gov.
Investor Relations Contact
Wobbe Ploegsma
wp@prairieopco.com
Supply: Prairie Working Co.
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