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|Azure Files Amended Plan and Disclosure Statement|
DALLAS, April 27, 2017 /PRNewswire/ -- Azure Midstream Partners, LP (the "Partnership") (OTC Pink: AZURQ) today announced that on April 25, 2017, the Partnership, along with its general partner and its direct and indirect subsidiaries (collectively, the "Debtors"), filed a First Amended Joint Plan of Liquidation (as amended, the "Plan") and related First Amended Disclosure Statement (as amended, the "Disclosure Statement") with the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Court"). A hearing before the Court regarding the approval of the Disclosure Statement is scheduled for Monday, May 1, 2017 (the "Hearing").
Also, tomorrow the Debtors intend to file a response and objection (the "Response") to an emergency motion to appoint an equity committee (the "Equity Holder Motion") filed by one of the Partnership's equity holders and received by the Court on April 25, 2017. The Response will include additional information supporting the Partnership's previously disclosed expectations (reflected in the Plan and Disclosure Statement) that it is unlikely that any holders of common units will receive any distributions upon the Court's confirmation of the Plan. The Equity Holder Motion and Response will also be addressed by the Court at the Hearing.
The Plan and Disclosure Statement, the Equity Holder Motion and the Response will be available to the public through the website administered by the Partnership's claims agent at www.kccllc.net/azuremlp, which is accessible through the Partnership's website at http://www.azuremidstream.com/. We urge you to monitor our press releases and these websites for important information.
Cautionary Note Regarding Forward Looking Statements
This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as "will," "would," "should," "could," "expect," "anticipate," "plan," "project," "intend," "estimate," "believe," "target," "continue," "potential," the negative of such terms or other comparable terminology are intended to identify forward-looking statements. These statements include, but are not limited to, statements about financial restructuring, the Plan and Disclosure Statement, the Equity Holder Motion, the Response and the Hearing, and the Partnership's expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated results with respect thereto. These statements are based on certain assumptions made by the Partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, but such assumptions may prove to be inaccurate. Such statements are also subject to a number of risks and uncertainties, many of which are beyond the control of the Partnership, which may cause the Partnership's actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks and uncertainties relating to, among other things: the ability to confirm and consummate a plan of reorganization; the bankruptcy process, including the effects thereof on Partnership's business and on the interests of various constituents, the length of time that the Partnership may be required to operate in bankruptcy and the continued availability of operating capital during the pendency of such proceedings; third party motions in any bankruptcy case, which may interfere with the ability to confirm and consummate a plan of reorganization; the potential adverse effects of bankruptcy proceedings on the Partnership's liquidity or results of operations; increased costs to execute a sale of the Partnership's assets; risks related to the Partnership's ability to generate sufficient cash flow and to make payments on its obligations and to execute a sale transaction; the Partnership's ability to access funds on acceptable terms, if at all, because of the terms and conditions governing the Partnership's indebtedness or otherwise; the uncertainty of the impact that any sale, financial restructuring or suspension of SEC filings will have on the market for the Partnership's publicly traded securities; tax consequences of business transactions; and changes in commodity prices. Please read the Partnership's filings with the SEC, including "Risk Factors" in the Partnership's Annual Report on Form 10-K, and if applicable, the Partnership's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Partnership's Investor Relations website at http://phx.corporate-ir.net/phoenix.zhtml?c=253822&p=irol-sec. or on the SEC's website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Partnership undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
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SOURCE Azure Midstream Partners, LP