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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 1, 2026
PRESIDIO PRODUCTION COMPANY
(Exact name of registrant as specified in its
charter)
| Delaware |
|
001-43179 |
|
39-3528250 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
500 W. 7th Street
Suite 1500
Fort Worth, Texas |
|
76102 |
| (Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s Telephone Number, Including
Area Code: (817) 382-3664
(Former Name or Former Address, if Changed Since
Last Report): Not Applicable
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered, pursuant to Section 12(b)
of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Class A Common Stock, par value $0.0001 per share |
|
FTW |
|
New York Stock Exchange |
| Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share |
|
FTW WS |
|
New York Stock Exchange |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 1.01 Entry into a Material Definitive Agreement
Purchase and Sale Agreements
On
July 1, 2026 (the “Closing Date”), Presidio Production Company (the “Company”) completed the transactions contemplated
by those certain purchase and sale agreements (the “Purchase and Sale Agreements”), dated as of May 7, 2026, by and between
the Company and each of Canyon Creek Energy – Arkoma, LLC (“Canyon Creek”), Alchemist Energy LeaseCo, LP (“Alchemist”),
Pivotal Arkoma Basin II, LLC (“Pivotal”), East Dennis Oil Company, LLC (“East Dennis”), Harvard Petroleum Company,
LLC (“Harvard”), FBF Energy, LLC (“FBF” and, collectively, the “Seller Parties”), whereby the Company
acquired the properties and assets from the Seller Parties set forth in the Purchase and Sale Agreements. The Purchase and Sale Agreements
with Canyon Creek, Alchemist and Pivotal (respectively, the “Canyon Creek PSA”, the “Alchemist PSA” and the “Pivotal
PSA”) represented approximately 98% of the aggregate consideration value of the Purchase and Sale Agreements.
Pursuant to each Purchase and Sale Agreement,
the Company purchased oil and gas leases, oil, gas, and mineral leases and subleases, carried interests, operating rights, record title
interests, overriding royalty interests and other interests to the crude oil, gas, casinghead gas, condensate, natural gas liquids, and
other gaseous or liquid hydrocarbons (including ethane, propane, iso-butane, nor-butane, gasoline, and scrubber liquids) of any type and
chemical composition in, on, under, and that may be produced from or are otherwise attributable to certain properties in Oklahoma (the
“Properties”).
On
the Closing Date, the Company (i) paid to the Seller Parties aggregate cash consideration of approximately $52.5 million and (ii) issued
to the Seller Parties an aggregate of 1,930,156 shares (the “Stock Consideration”) of the Company’s Class A common
stock, par value $0.0001 per share (“Common Stock”).
The foregoing descriptions of the Canyon Creek
PSA, the Alchemist PSA and the Pivotal PSA are qualified in their entirety by reference to the full text of each of such Purchase and
Sale Agreements, copies of which are attached as Exhibits 10.1, 10.2 and 10.3 to this Current Report on Form 8-K and are incorporated
herein by reference.
Registration Rights Agreement
On the Closing Date, the Company entered into
a registration rights agreement (the “Registration Rights Agreement”) by and between the Company and the Seller Parties, excluding
Pivotal, which received solely cash consideration in the transactions, pursuant to which, among other things, the Company granted such
Seller Parties customary rights to require the Company to file and maintain the effectiveness of a shelf registration statement with respect
to the resale of the Stock Consideration received by such Seller Parties, along with customary piggyback registration rights.
The foregoing description of the Registration
Rights Agreement is qualified in its entirety by reference to the full text of the Registration Rights Agreement, a copy of which is attached
as Exhibit 10.4 to this Current Report on Form 8-K and is incorporated herein by reference.
Loan Agreement and Limited Guarantee
On the Closing Date, (a) Presidio Acquisitions
LLC, as borrower (the “Borrower”), and Presidio Intermediate Holding Company II LLC, as a guarantor (“PIHC II”),
each a wholly owned indirect subsidiary of the Company, entered into a Loan and Security Agreement (the “Loan Agreement”)
with Goldman Sachs Bank USA (“GS”), as administrative agent and collateral agent, Goldman Sachs Bank USA and Citizens Bank,
N.A., as joint lead arrangers, the lenders party thereto from time to time and the other loan parties party thereto and (b) in connection
with the Loan Agreement, the Company entered into a Non-Recourse Carve-Out Guarantee (the “Limited Guarantee”) in favor of
GS, as collateral agent for the benefit of the secured parties.
The Loan Agreement provides for a senior secured
warehouse credit facility with aggregate commitments of up to $1.0 billion, consisting of (i) an initial $55.0 million Closing Date loan
commitment and (ii) $945.0 million of delayed draw loan commitments, which may be funded during a two-year delayed draw loan availability
period to finance the acquisition of additional qualifying oil and gas assets. The drawing of delayed draw loans is subject to lender
approval and satisfaction of specified conditions, including (i) the consent of each of the lenders if the aggregate principal amount
of loans outstanding under the Loan Agreement would exceed $500.0 million and (ii) the consent of GS if the aggregate principal amount
of loans owed to GS and its affiliates would exceed $300.0 million. Loans made on the Closing Date that are repaid may be reborrowed only
as delayed draw loans, subject to the terms of the Loan Agreement. On the Closing Date of the Loan Agreement, the Borrower drew the full
$55.0 million Closing Date loan commitment in loans.
The loans made on the Closing Date mature on the
third anniversary of the Closing Date, and each delayed draw loan matures on the third anniversary of its funding date; provided that
all delayed draw loans mature no later than the fifth anniversary of the Closing Date.
Borrowings under the Loan Agreement may bear interest,
at the Borrower’s election, at either (i) a base rate or (ii) Term SOFR plus an applicable margin. The applicable margin initially
is 3.00% for Term SOFR loans and 2.00% for base rate loans and increases to (i) 4.00% for Term SOFR loans and 3.00% for base rate loans
during months 13 through 24 following the funding date of such loan to the extent such loan is still outstanding and (ii) 5.00% for Term
SOFR loans and 4.00% for base rate loans for any period thereafter to the extent such loan is outstanding. The Borrower may voluntarily
prepay borrowings without premium or penalty, subject to customary breakage costs for certain SOFR loans. The Loan Agreement documents
also provide for certain upfront, administrative and duration fees payable by the Borrower.
The obligations under the Loan Agreement are (i)
guaranteed by PIHC II and certain present and future subsidiaries of the Borrower and (ii) secured by first-priority security interests
in substantially all assets of the Borrower, PIHC II and certain present and future subsidiaries of the Borrower that become loan parties
under the Loan Agreement from time to time (including substantially all oil and gas properties and related assets of such parties) subject
to customary excluded property and permitted lien exceptions.
Pursuant to the Limited Guarantee, the Company
guarantees certain specified losses arising from customary non-recourse carve-out events, including, among other things, fraud, theft,
willful misconduct, misapplication of collateral proceeds and certain unauthorized distributions. In addition, the Limited Guarantee provides
for springing full recourse liability upon the occurrence of certain customary events, including specified voluntary bankruptcy or insolvency
actions, substantive consolidation of the Borrower with another entity in certain circumstances, certain bad-faith challenges to the loan
documents or collateral, certain prohibited changes of control and other customary recourse carve-out events, in each case as more fully
described in the Limited Guarantee.
The Loan Agreement contains customary affirmative
and negative covenants for facilities of this type, including restrictions on the ability of the loan parties to incur additional indebtedness,
create liens, make investments, dispose of assets, engage in mergers or other fundamental transactions, make restricted payments, enter
into transactions with affiliates, amend material contracts and organizational documents, and enter into certain hedging arrangements,
in each case subject to customary exceptions and baskets. The Loan Agreement also requires the Borrower to maintain specified commodity
and interest rate hedging arrangements and a debt service reserve account. In addition, the Loan Agreement contains customary reporting
obligations and reserve reporting requirements with respect to the Borrower’s oil and gas assets.
The Loan Agreement includes financial maintenance
covenants with respect to the Closing Date loans, including (i) a minimum debt service coverage ratio of not less than 1.10 to 1.00 and
(ii) a maximum LTV Ratio (as defined in the Loan Agreement) of not greater than 70% (which decreases to 65% after the fifth full fiscal
quarter following the Closing Date). In the case of any funding of delayed draw loans, the Borrower and the applicable Lenders will establish
separate thresholds for such financial covenants at the time such Delayed Draw Loans are funded.
The Loan Agreement contains customary events of
default, including payment defaults, breaches of covenants, inaccuracies of representations and warranties, cross-defaults to specified
indebtedness, bankruptcy and insolvency events, invalidity of loan documents or collateral security, certain ERISA events, certain events
relating to the management and operating agreements, change of control and specified judgments (each subject to thresholds and/or grace
periods described in the Loan Agreement). Upon the occurrence and continuation of an event of default, the administrative agent may, and
at the direction of the requisite lenders shall, terminate the lenders’ commitments and declare all outstanding obligations immediately
due and payable, and exercise remedies against the collateral.
The foregoing descriptions of the Loan Agreement
and the Limited Guarantee do not purport to be complete and are qualified in their entirety by reference to the full text of the Loan
Agreement and the Limited Guarantee, copies of which are filed as Exhibits 10.5 and 10.6, respectively, to this Current Report on Form
8-K and are incorporated herein by reference.
Item 2.01
Completion of Acquisition or Disposition of Assets
The
information regarding the Purchase and Sale Agreements set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into
this Item 2.01 by reference.
Item 2.03 Creation of a
Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The
information regarding the Loan Agreement and Limited Guarantee set forth in Item 1.01 of this Current Report on Form 8-K is incorporated
into this Item 2.03 by reference.
Item 3.02 Unregistered Sales of Equity Securities
The information regarding the Stock Consideration
set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02. The issuance of the shares
of Common Stock was undertaken in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended
(the “Securities Act”), pursuant to Section 4(a)(2) thereof.
Item 7.01 Regulation FD Disclosure
On July 2, 2026, the Company issued a press release
announcing the completion of the transactions contemplated by the Purchase and Sale Agreements and the Loan Agreement and the Limited
Guarantee. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. In accordance with
General Instruction B.2 of Form 8-K, the information in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed”
for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject
to the liabilities of that section, nor shall such information, including Exhibit 99.1, be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such
filing.
Cautionary Note Regarding Forward-Looking Statements
Statements in this Current Report on Form 8-K
and in our other filings with the SEC, as well as other statements we may make from time to time, other than statements of historical
fact, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
In some cases, you can identify forward-looking statements by words such as “may,” “will,” “should,”
“expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,”
“guidance,” “outlook,” “predicts,” “potential,” “continue,” and similar words
or phrases or the negative of these words or phrases. These statements relate to future events or the Company’s future financial
performance and involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, performance,
or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking
statements. Although the Company believes the expectations reflected in the forward-looking statements are reasonable when made, the Company
cannot guarantee future results, levels of activity, performance, or achievements. See the Company’s final prospectus and definitive
proxy statement filed with the SEC, dated January 30, 2026 in the section entitled “Risk Factors” and the Company’s
other filings with the SEC for a discussion of risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Item 9.01 Financial Statements and Exhibits
(a) Financial Statements of Businesses Acquired
As permitted by Item 9.01(a)(3) of Form 8-K, any
financial statements required by this Item will be filed by amendment to this Report within 71 calendar days following the date on which
this Report is required to be filed.
(b) Pro Forma Financial Information
As permitted by Item 9.01(b)(2) of Form 8-K, any
pro forma financial information required by this Item will be filed by amendment to this Report within 71 calendar days following the
date on which this Report is required to be filed.
(d) Exhibits
| Exhibit No. |
|
Description |
| 10.1* |
|
Purchase and Sale Agreement, dated May 7, 2026, between Alchemist Energy LeaseCo, LP and Presidio Production Company. |
| 10.2* |
|
Purchase and Sale Agreement, dated May 7, 2026, between Canyon Creek Energy – Arkoma, LLC and Presidio Production Company. |
| 10.3* |
|
Purchase and Sale Agreement, dated May 7, 2026, between Pivotal Arkoma Basin II, LLC and Presidio Production Company. |
| 10.4* |
|
Registration Rights Agreement, dated July 1, 2026. |
| 10.5* |
|
Loan and Security Agreement, dated July 1, 2026, between Presidio Acquisitions LLC, Presidio Intermediate Holding Company II LLC, Goldman Sachs Bank USA, Citizens Bank, N.A., and the other loan parties and lenders party thereto. |
| 10.6* |
|
Non-Recourse Carve-Out Guarantee, dated July 1, 2026, between Goldman Sachs Bank USA and Presidio Production Company. |
| 99.1 |
|
Press Release, dated July 2026 |
| 104 |
|
Cover Page Interactive Data File (embedded within Inline XBRL document) |
| * | Certain
of the schedules and exhibits to the agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted
schedule or exhibit will be furnished to the Securities and Exchange Commission upon request. |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 8, 2026
| |
PRESIDIO PRODUCTION COMPANY |
| |
|
| |
By: |
/s/ Brett Barnes |
| |
Name: |
Brett Barnes |
| |
Title: |
Executive Vice President and General Counsel |
Exhibit 99.1
PRESIDIO CLOSES CANYON CREEK ACQUISITION
July 2, 2026 4:01 PM EDT
Expected dividend increase to $1.50 per share
FORT WORTH, Texas—(BUSINESS WIRE)—Presidio
Production Company (NYSE: FTW) (“Presidio” or the “Company”) today announced the closing of its acquisition of
the Canyon Creek assets (the “Transaction”) from companies controlled by Vortus Investments and additional sellers (the “Sellers”).
The closing marks the first use of the Company’s ABS Warehouse Facility of up to $1.0 billion, led by Goldman Sachs.
The Transaction is Presidio’s second acquisition
as a public company and its first in the Arkoma Basin. It establishes a platform for future consolidation under the Company’s land-and-expand
strategy. The Company believes the Transaction will support an increase to its anticipated annualized dividend rate from $1.35 to $1.50
per share, subject to approval by the Board of Directors.
“This is the second of many expected acquisitions,
a low-decline, cash-flowing asset that fits the Company’s criteria perfectly. We look forward to increasing the dividend while realizing
strong returns as we take over the asset. We are also pleased to welcome Citizens, our RBL lender, into our ABS Warehouse Facility in
conjunction with our first funding,” said Will Ulrich, Chairman and Co-CEO of Presidio.
Chris Hammack, Co-CEO and Director of Presidio,
continued, “This transaction establishes our entry into the Arkoma Basin, where we see a compelling opportunity to build scale through
consolidation using the same land-and-expand strategy we’ve successfully executed in the Western Anadarko. We believe these assets
are an excellent fit for Presidio’s operating model, and we intend to deploy our proven playbook of disciplined execution, Al-enabled
analytics, and operational excellence to drive lower costs, optimize production, improve well-level margins, and maximize long-term value
for our shareholders.”
Acquisition Highlights
| ● | Purchase price of approximately $83 million |
| ● | Strategic entry into the Arkoma Basin |
| ● | Net PDP production of approximately 21 MMcfe/d
as of May 2026, from 55 producing wells (70% natural gas, 30% NGLs), with an 11% annual decline |
| ● | Estimated Proved Developed Producing PV-10 of
approximately $100 million |
| ● | Estimated Net Proved Developed Producing Reserves
of approximately 100 Bcfe |
| ● | Expected year-one free cash flow yield in excess
of 20% |
| ● | Expected levered returns in excess of 20% |
ABS Financing
The Transaction was funded through the Company’s
first draw of $55 million under its ABS Warehouse Facility, led by Goldman Sachs. Citizens Bank, N.A., the Company’s RBL lender,
joined the facility with a 40% participation, broadening the lender base and enhancing the facility’s capacity to scale for future
acquisitions.
Issuance of Shares
In connection with the Transaction, the Company
issued 1,962,240 new shares of Class A common stock to the Sellers.
Hedging Program
The following table summarizes Presidio’s
commodity hedge position as of the date of this release.
| | |
3Q26 | | |
4Q26 | | |
1Q27 | | |
2Q27 | | |
3Q27 | | |
4Q27 | | |
FY28 | | |
FY29 | | |
Beyond | |
| Oil Swaps | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Volume (MBbl) | |
| 273 | | |
| 266 | | |
| 255 | | |
| 248 | | |
| 242 | | |
| 237 | | |
| 887 | | |
| 756 | | |
| 937 | |
| Avg. Strike ($/Bbl) | |
$ | 60.01 | | |
$ | 60.59 | | |
$ | 87.90 | | |
$ | 108.14 | | |
$ | 100.59 | | |
$ | 88.02 | | |
$ | 63.17 | | |
$ | 67.55 | | |
$ | 64.38 | |
| Natural Gas Swaps | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Volume (BBtu) | |
| 7,429 | | |
| 7,183 | | |
| 6,865 | | |
| 6,624 | | |
| 6,520 | | |
| 6,388 | | |
| 24,143 | | |
| 20,232 | | |
| 55,761 | |
| Avg. Strike ($/MMBtu) | |
$ | 5.29 | | |
$ | 5.30 | | |
$ | 4.94 | | |
$ | 4.30 | | |
$ | 3.43 | | |
$ | 3.76 | | |
$ | 3.56 | | |
$ | 3.58 | | |
$ | 3.48 | |
| Natural Gas Basis Swaps | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Volume (BBtu) | |
| 7,090 | | |
| 6,961 | | |
| 6,070 | | |
| 5,847 | | |
| 5,763 | | |
| 5,647 | | |
| 21,357 | | |
| 8,663 | | |
| — | |
| Avg. Strike ($/MMBtu) | |
$ | (0.57 | ) | |
$ | (0.41 | ) | |
$ | 0.11 | | |
$ | (0.55 | ) | |
$ | (0.49 | ) | |
$ | (0.40 | ) | |
$ | (0.42 | ) | |
$ | (0.52 | ) | |
| — | |
| NGL Swaps | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Volume (MBbl) | |
| 627 | | |
| 613 | | |
| 593 | | |
| 580 | | |
| 528 | | |
| 517 | | |
| 1,748 | | |
| 1,322 | | |
| 1,316 | |
| Avg. Strike ($/Bbl) | |
$ | 23.05 | | |
$ | 23.14 | | |
$ | 24.86 | | |
$ | 23.02 | | |
$ | 26.76 | | |
$ | 25.66 | | |
$ | 25.52 | | |
$ | 23.41 | | |
$ | 21.49 | |
Advisors
Opportune Partners LLC served as financial advisor
to Presidio. Latham & Watkins LLP and Sidley Austin LLP served as legal counsel to Presidio. Conner & Winters LLP, Akin Gump Strauss
Hauer & Feld LLP, and Holland & Knight LLP served as counsel for various Sellers.
About Presidio
Headquartered in Fort Worth, TX, Presidio Production
Company (NYSE: FTW) is a yield-focused, differentiated oil and gas operator in the United States focused on the acquisition and optimization
of producing oil and natural gas wells, without drilling. Presidio is a leading operator of stable oil and gas wells across the Mid-Continent,
applying engineering expertise and AI-driven analytics to enhance performance and extend asset life. The Company’s Class A common
stock is listed on the New York Stock Exchange under the ticker symbol “FTW”. To learn more, visit https://bypresidio.com/.
Forward-Looking Statements
The statements contained in this press release
that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements
regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections,
forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “would” and similar expressions may identify forward-looking statements, but
the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this
press release are based on our current expectations and beliefs concerning future developments and their potential effects on the Company.
There can be no assurance that future developments affecting the Company will be those that we have anticipated. These forward-looking
statements speak only as of the date this press release is issued and involve a number of risks, uncertainties (some of which are beyond
our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied
by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions
prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.
Factors that may cause actual results to differ
materially from current expectations include, but are not limited to: (1) the ability to recognize the anticipated benefits of the Transaction,
which may be affected by, among other things, competition, the ability of the Company to reduce operating costs, grow and manage growth
profitably, maintain relationships with customers and suppliers, successfully integrate the Canyon Creek assets into the assets of the
Company and retain its management and key employees; (2) changes in applicable laws or regulations; (3) the possibility that the Company
may be adversely affected by other economic, business, and/or competitive factors; (4) changes in domestic and foreign business, market,
financial, political conditions, and in applicable laws and regulations; (5) the ability to meet stock exchange listing standards; (6)
risks related to commodity price volatility and its impact on cash flows and dividend sustainability; (7) risks related to oil and gas
operations, including production declines, operational challenges, and regulatory changes; (8) risks related to the Company’s ability
to pay, maintain or increase dividend payments; and (9) other risk factors described herein as well as the risk factors and uncertainties
described in documents filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”), the sections entitled
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” and similar sections in its filings
with the SEC, and any periodic Exchange Act reports filed with the SEC such as its Annual Reports on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K. The recipient of this press release should carefully consider the foregoing risk factors and the
other risks and uncertainties which will be more fully described in the documents filed by the Company from time to time with the SEC.
If any of these risks materialize or the underlying assumptions prove incorrect, actual results could differ materially from the results
implied by these forward-looking statements.
In addition, there may be additional risks that
the Company does not presently know, or that it currently believes are immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation or warranty, either
express or implied, by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which
speak only as of the date they are made.
In addition, the information contained in this
press release is provided as of the date hereof and may change, and the Company and its representatives and affiliates specifically disclaim
any obligation to, and do not intend to, update or revise any forward-looking statements, whether as a result of new information, inaccuracies,
future events or otherwise, except as may be required under applicable securities laws. Information contained on our website is not a
part of or incorporated into this press release. Dividends are not guaranteed and may be adjusted, suspended, or discontinued at the discretion
of the Board of Directors based on liquidity, legal surplus, business conditions, commodity price volatility, market conditions and other
factors.
Contacts
Presidio Media and Investor Contact:
Connor Fair, Director of Investor Relations
investors@bypresidio.com
