Lilis Energy, Inc., an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has received notification dated June 29, 2020 from the NYSE American LLC (the “NYSE American”) that the Company’s common stock has been suspended from trading on the NYSE American and that the NYSE American has determined to commence proceedings to delist the Company’s common stock. The NYSE American determined that the Company was no longer suitable for listing under Section 1003(c)(iii) of the NYSE American Company Guide after the Company’s June 29, 2020 disclosure that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The Company does not presently anticipate exercising its right to appeal the NYSE American’s delisting determination.
The Company’s common stock has begun to be quoted on the OTC Pink marketplace on June 30, 2020 under the symbol “LLEXQ”. Investors can find quotes for the Company’s common stock on www.otcmarkets.com. The Company does not expect the transition to the OTC Pink marketplace to affect the Company’s business operations.
About Lilis Energy, Inc.
Lilis Energy, Inc. is a Fort Worth based independent oil and gas exploration and production company that operates in the Permian’s Delaware Basin, considered among the leading resource plays in North America. Lilis’ current total net acreage in the Permian Basin is over 18,000 acres. Lilis Energy’s E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.
Contact:
Christa Garrett
SVP General Counsel
817-585-9001
Contact Information:
Christa Garrett
SVP General Counsel
817-585-9001
Tags:
, Wire, Disclosure Newswire, United States, English
Contact Information:
Christa Garrett
SVP General Counsel
817-585-9001
