TexCom Announces Acquisitions


HOUSTON, TX - (Marketwire) – July 31, 2014 - TexCom, Inc. (OTC Pink: TEXC)(the “Company” or “TexCom”), an environmental services company serving the oil and gas industry, today announced that it has closed the previously announced agreements to purchase two salt water disposal wells – the Peak Water Systems SWD #1 and the Bennett SWD #1, both located in Van Buren County, Arkansas. The purchase price for the assets is approximately $20.29 million and included the refinancing of approximately $7.12 million of debt. The remaining purchase price consists of $2.63 million in cash and $10.54 million in shares of common stock. The common stock will be issued at $0.244 per share (or $2.44 after the completion of the recently announced one-for-ten reverse stock split), which is the average closing price on the OTC Pink for the 60 day period prior to execution of the agreements.

These assets are expected to add $5.5 million of revenues per year and earnings before interest, income taxes, depreciation and amortization of approximately $3.7 million per year. Green Bank of Houston, Texas, provided debt financing to complete these acquisitions.

WoodRock & Co. has acted as financial advisor to TexCom on these transactions. “We are excited to complete the acquisition of these excellent assets at favorable prices with a relatively low level of debt,” stated Stephen J. Barth, Chairman of the Board. “These acquisitions are an important step in growing our oil and gas waste disposal operations.”

About TexCom, Inc.

TexCom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil & gas industry.

Forward-Looking Statements

This press release and the presentation referenced above may contain forward-looking statements, including information about management’s view of TexCom, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release or such presentation other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TexCom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on TexCom’s future results. The forward-looking statements included in this press release and the presentation are made only as of the date hereof. TexCom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, TexCom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by TexCom.