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EXHIBIT 99
HENC Announces Voluntary Delisting from OTCQB
HOUSTON, TEXAS -- April 29, 2016. Holloman Energy Corporation (HENC.OTCQB)
announces its intention to file a Form 15 (Certification of Termination of
Registration under Section 12(g) of the Securities Exchange Act of 1934 (the
"1934 Act")) with the U.S. Securities and Exchange Commission (the "SEC"). The
filing of the Form 15 will immediately suspend Holloman's obligation to file
reports with the SEC. Holloman also expects the termination of its 1934 Act
registration to cause its common shares to be removed from trading on the OTCQB
Venture Marketplace (the "OTCQB"). Holloman expects to file the Form 15 on May
2nd, 2016 and expects its registration to be terminated effective approximately
90 days after the filing of the Form 15.
The termination of the registration of its common shares and removal from
trading on the OTCQB is part of the Company's efforts to reduce costs and
conserve cash. It is intended to reduce listing and reporting fees, and legal
and administrative fees associated with the listing of the common shares on the
market.
HENC's Board of Directors determined that the costs and compliance obligations
of maintaining the registration of the Company's common shares outweigh the
benefits to Holloman Energy and its shareholders at this time and have voted to
terminate the 1934 Act registration and cause the common shares to be withdrawn
from trading on the OTCQB.
The Company expects that its common shares will be qualified for trading on the
OTC Pink Sheets following the effective date of the delisting from the OTCQB.
The Company has complied with all applicable state and federal securities laws
in connection with the delisting.
About Holloman Energy
Holloman is focused on exploring and producing oil in Australia's Cooper Basin.
Holloman's Cooper Basin licenses include interests in PEL 112 and PEL 444 which
currently comprise 2,252 km(2) (approximate 555,000 gross acres, 270,000 net
acres) on the prolific Western Margin of Australia's Cooper - Eromanga Basin.
Forward-Looking Statements: This press release includes forward-looking
statements as determined by the U.S. Securities and Exchange Commission (the
"SEC"). All statements, other than statements of historical facts, included in
this press release that address activities, events, or developments that the
Company believes or anticipates will or may occur in the future are
forward-looking statements. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Such factors include general economic and
business conditions, the ability to acquire and develop specific projects, the
ability to fund operations and changes in consumer and business consumption
habits and other factors over which the Company has little or no control. The
Company does not intend (and is not obligated) to publicly update any
forward-looking statements. The contents of this press release should be
considered in conjunction with the warnings and cautionary statements contained
in the Company's filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS
Holloman Energy Corporation
http://www.hollomanenergy.com
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Contact:
Holloman Energy Corporation
Gina Serkasevich
(281) 260-0193