Particle Drilling Technologies, Inc.
Registration Statement Declared Effective
HOUSTON, June 29 /PRNewswire-FirstCall/ -- Particle
Drilling Technologies, Inc. (Nasdaq: PDRT) ("PDTI") today
announced that its registration statement originally filed on
April 7, 2005 with the Securities and Exchange Commission to
register the resale, from time to time, of 14,131,538 shares
of its common stock by selling shareholders named in the
registration statement has been declared effective.
The registration statement was filed pursuant to
registration rights that the company had granted to certain of
its stockholders. As a result of the registration statement
becoming effective, the rights to purchase up to 2,700,000
shares of common stock pursuant to certain previously granted
warrants have been terminated according to the provisions of
the warrant agreement.
This press release shall not constitute an offer to sell or
the solicitation to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such
jurisdiction.
Contacts: J. Chris Boswell, SVP &
CFO, Particle Drilling Technologies, Inc., 713-223-3031 ext.
204. Ken Dennard, Managing Partner, Jack Lascar, Partner,
DRG&E / 713-529-6600
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