Magnum Hunter Resources
Corporation MHR announced today that its Board of Directors has
declared a dividend in the form of warrants to purchase shares of the
Company's common stock at $10.50 per share payable on October 14,
2011 to shareholders of record on August 31, 2011.
Each shareholder
of the Company's common stock will receive one warrant for every ten
shares owned as of the record date. Each warrant will entitle
the holder to purchase one share of the Company's common stock at an
exercise price of $10.50 per share, subject to certain anti-dilution
adjustments.
The warrants will generally be exercisable for two years
from the date of issuance subject to redemption at the option of the
Company at $0.001 per warrant upon not less than thirty days' notice
to the holders.
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