GulfSlope Energy Adjourns Special Meeting of Stockholders
HOUSTON, TX -- (Marketwired) -- 03/16/15 -- GulfSlope Energy (OTCQB: GSPE) ("GulfSlope or the "Company"), an independent oil and natural gas company focused on exploring offshore U.S. Gulf of Mexico, today announced that it has adjourned the Special Meeting of Stockholders (the "Special Meeting") without taking any action. The Special Meeting was related to a proposed amendment to the Company's certificate of incorporation giving GulfSlope's Board of Directors the discretion to effect a reverse stock split of all outstanding shares of the Company's common stock at a ratio of not less than 1-for-2 and not greater than 1-for-200.
John Seitz, Chairman and Chief Executive Officer, commented, "Despite having sufficient votes to approve the proposal, we have decided to adjourn the Special Meeting to provide the Company more time to evaluate the potential effects of a reverse stock split on its existing stockholders as it relates to future funding requirements. Employees and directors own approximately 40% of GulfSlope common stock and we are fully committed to act in the best interest of our stockholders."
About GulfSlope Energy
GulfSlope Energy is an independent oil and natural gas company focused on exploring offshore U.S. Gulf of Mexico. To learn more, visit the GulfSlope Energy website at www.GulfSlope.com.
Source: GulfSlope Energy, Inc.
Released March 16, 2015