Hallador Energy Company (NASDAQ:HNRG) Files An 8-K Other EventsItem 8.01 Other Events
Yorktown Energy Partners VII, L.P. (“Yorktown VII”) notified us that it distributed 868,405 shares (2.9% of the total outstanding shares) of Hallador common stock to its general and limited partners after the close of the stock market on August 15, 2018. Afterthe distribution, Yorktown VII will hold 361,094 shares (1.2% of the total outstanding shares) of Hallador common stock. Yorktown Energy Partners VI, L.P. continues to own 604,904 shares (2% of the total outstanding shares) of Hallador common stock, and Yorktown Energy Partners VIII, L.P. continues to own 2,950,000 shares (9.8% of the total outstanding shares) of Hallador common stock. We were advised that the distributed shares could be sold immediately.
We expect that over time these distributions will improve our liquidity and float.
About Hallador Energy Company (NASDAQ:HNRG)
Hallador Energy Company is an oil and gas exploration company focused on developing coal reserves in the Illinois Basin. The Company, through its subsidiary, Sunrise Coal, LLC, is engaged in coal mining in the state of Indiana serving the electric power generation industry. Its projects include Carlisle Mine, Ace in the Hole Mine, Oaktown 1 Mine, Oaktown 2 Mine and Bulldog Mine. It develops over 10 million tons of coal annually and has customers in the mid-west and southeastern United States. It has over 40.6 million tons of the Indiana coal V seam. It also has over 69.3 million controlled tons in both Knox County, Indiana and Lawrence County, Illinois. Its Carlisle underground coal mine is located near the town of Carlisle, Indiana in Sullivan County. The Ace mine is located approximately 40 miles northeast of the Carlisle Mine. Its Bulldog Mine controls over 35.8 million tons of coal reserves.
