NetworkNewsBreaks – Lafayette Energy Corp. Featured in Seeking Alpha Article

Lafayette, an oil and gas exploration and production company with operations in Louisiana, was featured in a recent Seeking Alpha article that discussed the company’s filing to raise $7.2 million in an IPO. “Lafayette intends to raise $7.2 million in gross proceeds from an IPO of its common stock, offering 1.2 million shares at a proposed midpoint price of $6.00 per share. No existing shareholders have indicated an interest in purchasing shares at the IPO price. The company has also registered approximately 2.6 million shares for resale by selling shareholders. Assuming a successful IPO, the company’s enterprise value at IPO would approximate $65.1 million, excluding the effects of underwriter over-allotment options. The float to outstanding shares ratio (excluding underwriter over-allotments) will be approximately 10.04%. A figure under 10% is generally considered a ‘low float’ stock, which can be subject to significant price volatility,” reads the article. According to the publication, the company’s management intends to use net proceeds from the IPO for the investment in initial development opportunities, acquisition of additional acreage in the Imperial Parish Fields, conducting 3D seismic/pre-development activities on its optioned properties, payments to officers and directors, as well as for general working capital. To view the full article, visit https://nnw.fm/nkJOS About Lafayette Energy Corp. Denver, Colorado-based Lafayette Energy Corp. was founded to acquire and develop sites in southern Louisiana for hydrocarbon development. Management is headed by president and CEO Michael L. Peterson, who has been with the firm since April 2022 and has served on the board of directors for a number of companies, including Trio Petroleum, another company seeking to go public in the U.S. The company has options to lease up to 10,200 acres called the Imperial Parish Fields. As of Dec. 31, 2022, Lafayette has booked fair market value investment of $1.2 million from investors, including Michael Schilling, Adrian Beeston, Naia Ventures and Henry Chamberlain. About NetworkNewsWire NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only) For more information please visit https://www.networknewswire.com Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer NetworkNewsWire (NNW) New York, New York www.networknewswire.com 212.418.1217 Office [email protected] NetworkNewsWire is part of the InvestorBrandNetwork.