Latest news with #Isidoro
Yahoo
19-05-2025
- Business
- Yahoo
Barnwell Shareholders Demand Change: Sherwood Group Nominees Lead with Overwhelming Support Ahead of Annual Meeting
Over 40% of Outstanding Shares Have Already Voted on the Green Card in Favor of Change Ahead of May 29 Annual Meeting Sherwood Group Calls on Barnwell Board to Respect Shareholder Vote Vero Beach, Florida--(Newsfile Corp. - May 19, 2025) - The Sherwood Group, a long-term and significant shareholder with approximately 29.90% of the issued and outstanding shares of Barnwell Industries, Inc. ("Barnwell", "BRN" or the "Company") today issued the following letter to Barnwell shareholders providing a voting update ahead of the Company's Annual Meeting on May 29, 2025. Dear Barnwell Shareholders: According to a preliminary report received from the proxy solicitor, Barnwell shareholders are demonstrating overwhelming support for urgent change and accountability. Considering that Ms. Isidoro has already been elected to the Board by the Consent Solicitation, approximately 40% of the Company's outstanding shares have already been voted FOR Sherwood Group nominees Henry, Pierson and Sherwood on the GREEN proxy card. Mr. Woodrum has received 39% of the total outstanding shares. In sharp contrast, management's nominees have received only 1.45 to 1.59 million shares each, representing 14% to 15.8% of shares outstanding, much of which, we believe, represents insider holdings. We urge all shareholders to carefully review the facts and vote FOR the Sherwood Group's nominees to ensure accountability, transparency, and a stronger future for Barnwell. Voting Is Ongoing Shareholders are reminded that voting remains open for the 2025 Annual Meeting. Preliminary voting results are not final and may not reflect the ultimate outcome. Shareholders who have already voted may revoke their proxy and submit a new one at any time up to and including the meeting date. Shareholders should note that Barnwell has refused to accept or count votes submitted in favor of the Sherwood Group. While we remain confident in the outcome if the Delaware Court acts to ensure a fair process, we do not presume the result of the Annual Meeting. The Sherwood Group strongly urges shareholders not to give undue weight to the preliminary voting results and, instead, to consider all material facts concerning the election before making their voting decisions with respect to the annual meeting. The message is clear: shareholders are demanding new leadership. This is not a board aligned with shareholders or focused on long-term value creation. This is a board presiding over persistent financial underperformance, poor capital allocation, and blatant entrenchment. The path forward starts with accountability. The Sherwood Group's platform is built on restoring financial discipline, reestablishing strategic focus, and delivering lasting value for all shareholders. Barnwell shareholders deserve a board that takes responsibility, not one that hides behind legal maneuvers and empty headlines. We thank the many shareholders who have already voted FOR the Sherwood Group's nominees using the GREEN proxy card via ProxyVote. To the current Board of Barnwell: we urge you to immediately cease its efforts in Delaware Court aimed at blocking the universal proxy and instead respect the rights of shareholders to decide who should lead their company. It's time to turn the page. Vote GREEN. Vote for Change. Thank you for your support,Ned L. Sherwood If you have any questions, please contact: Alliance Advisors150 Clove Road, Suite 400, Little Falls, NJ 07424Shareholders call toll-free: 1 (833) 215-7301Email: brn2025@ For media inquiries or further information, please contact: Alyssa BarryMedia Relations, Alliance Advisorsabarry@ To view the source version of this press release, please visit
Yahoo
16-05-2025
- Business
- Yahoo
Barnwell Industries Remains Committed to Sound Corporate Governance
Announces Glass Lewis - For the Second Time in Three Weeks - Rejected Yet Another Attempt by the Sherwood Group to Take Control of Barnwell Sets the Record Straight in Response to the Sherwood Group's Misleading Claims Company Welcomes Heather Isidoro to the Board HONOLULU, May 16, 2025 /PRNewswire/ -- Barnwell Industries, Inc. (NYSE American: BRN) ("Barnwell" or the "Company") today reiterated its commitment to serving the best interests of all shareholders, upholding governance best practices and creating value through its ongoing strategic execution around its Alberta energy assets, in response to continued misleading and inflammatory communications from Ned Sherwood and certain of his affiliates (the "Sherwood Group"). Over the past several months, the Sherwood Group has attempted to rewrite the history of its engagement with Barnwell, distorting facts, denying clear public records, and ignoring the fundamentals of governance and fiduciary responsibility. Barnwell's directors are experienced, shareholder-aligned, and committed to long-term value creation—not personal agendas. Shareholders deserve the truth. Company Welcomes Ms. Isidoro to the BoardThe Board of Directors of Barnwell Industries, Inc. acknowledges and respects the outcome of the shareholder consent process and is pleased to welcome Heather Isidoro as a newly elected member of the Board. Ms. Isidoro brings a valuable perspective shaped by her leadership experience in the energy sector and her commitment to operational excellence. Her appointment reflects the voice of our shareholders, and the Board is committed to working collaboratively to advance the Company's strategy and long-term value creation. Joshua Horowitz, Chairman of the Executive Committee, commented: "We welcome Ms. Isidoro to the Board and look forward to working constructively with her. We believe her insights and expertise will contribute meaningfully to our efforts to create lasting value for all Barnwell stakeholders." Glass Lewis Again Rejects the Sherwood Group's Attempt to Take Control of BarnwellIn the Sherwood Group's consent solicitation, both leading proxy advisory firms Institutional Shareholder Services and Glass Lewis rejected the Sherwood Group's attempt to take control of the Company. In connection with the 2025 Annual Meeting, Glass Lewis is recommending shareholders vote FOR Ken Grossman, Craig Hopkins, Joshua Horowitz and Philip McPherson - and is only recommending Ms. Isidoro from the Sherwood Group's slate. Governance, Not EntrenchmentDespite Mr. Sherwood's repeated claims of "entrenchment" the Board has acted with integrity and responsibility throughout this process. Barnwell entered into two separate Cooperation Agreements with Mr. Sherwood in the past where he agreed to Board composition and made multiple attempts to resolve differences constructively. Unfortunately, those efforts were met with pressure tactics, misrepresentations, and shifting demands. Your Board Remains Focused on Shareholder ValueUnder the Board's oversight, Barnwell has: Executed profitable land sales in Hawaii Maintained discipline through volatile energy cycles Reduced non-proxy contest related SG&A expenses Continued exploring strategic capital allocation and growth opportunities including the recently announced sale of WRI Sherwood Has No Credible PlanTo be clear: Mr. Sherwood has no credible plan for Barnwell's future. He has offered no operating strategy, no vision, and no concrete roadmap for value creation. Instead, his campaign has been driven by personal grievance and a revolving door of nominee slates – many of whom lack relevant experience and independence. Sherwood Rejected Meaningful Influence – Including the ChairmanshipIn a gesture of good faith and cooperation, Barnwell formally offered Mr. Sherwood the Chairmanship of the Company—a level of influence few activists are ever offered. His rejection of this offer speaks volumes. Any serious shareholder advocate would have accepted the opportunity to lead and work collaboratively. Instead, Mr. Sherwood continues to pursue a campaign rooted in disruption rather than strategy. The Sherwood Group Took Questionable Steps in Connection With its Consent SolicitationThe Sherwood Group has already failed in taking a vote directly to shareholders – a process that they manipulated by failing to submit a supplemental vote of approximately 7,000 shares, which could have been outcome determinative. As previously announced, Barnwell is awaiting the Delaware Court of Chancery's decision on the pending lawsuit related to the validity of the Sherwood Group's nomination notice, which purported to nominate directors (consisting of a majority of individuals DIFFERENT from those nominees who appeared in the Sherwood Group's consent solicitation) to stand for election at Barnwell's upcoming 2025 annual meeting of shareholders. Barnwell earlier notified the Sherwood Group that the Company determined that the Sherwood Group's purported nomination notice failed to comply with applicable bylaws in numerous ways, and had decided to reject the Sherwood Group's nomination notice. The Company intends to supplement its proxy materials for the 2025 annual meeting of shareholders following receipt of the Court's decision. As previously stated, Barnwell remains open to engaging in constructive, good-faith settlement discussions with the Sherwood Group in pursuit of a resolution that represents the best interests of the Company and all shareholders. The Company believes that these governance matters should be resolved collaboratively and thoughtfully, wherever possible, to avoid unnecessary distraction and preserve focus on long-term value creation by developing its Canadian energy assets. If you have any questions or to revoke a previous submitted consent, please contact our proxy solicitor: Okapi Partners at (877) 869-0171 or by email at info@ Forward-Looking Statements Certain information contained in this press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current beliefs and expectations of our board and management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, include various estimates, forecasts, projections of Barnwell's future performance, statements of Barnwell's plans and objectives, our expectations regarding the outcome of the 2025 annual meeting of stockholders and our ability to successfully solicit proxies from our stockholders in connection with the 2025 annual meeting of stockholders. Forward-looking statements include phrases such as "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates," "assumes," "projects," "may," "will," "will be," "should," or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Any or all of the forward-looking statements may turn out to be incorrect or be affected by inaccurate assumptions Barnwell might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to the actions of the Sherwood Group, our ability to successfully solicit proxies from stockholders in connection with the 2025 annual meeting of stockholders, our ability to defend against any potential claims by the Sherwood Group, our ability to execute on our strategy and business plan and the other risks forth in the "Forward-Looking Statements," "Risk Factors" and other sections of Barnwell's Annual Report on Form 10-K for the fiscal year ended September 30, 2024 and Barnwell's other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein. CONTACT: Investors:Bruce Goldfarb / Chuck Garske(212) 297-0720Email: info@ Kenneth S. GrossmanVice Chairman of the Board of DirectorsEmail: kensgrossman@ View original content to download multimedia: SOURCE Barnwell Industries, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Barnwell Industries Remains Committed to Sound Corporate Governance
Announces Glass Lewis - For the Second Time in Three Weeks - Rejected Yet Another Attempt by the Sherwood Group to Take Control of Barnwell Sets the Record Straight in Response to the Sherwood Group's Misleading Claims Company Welcomes Heather Isidoro to the Board HONOLULU, May 16, 2025 /PRNewswire/ -- Barnwell Industries, Inc. (NYSE American: BRN) ("Barnwell" or the "Company") today reiterated its commitment to serving the best interests of all shareholders, upholding governance best practices and creating value through its ongoing strategic execution around its Alberta energy assets, in response to continued misleading and inflammatory communications from Ned Sherwood and certain of his affiliates (the "Sherwood Group"). Over the past several months, the Sherwood Group has attempted to rewrite the history of its engagement with Barnwell, distorting facts, denying clear public records, and ignoring the fundamentals of governance and fiduciary responsibility. Barnwell's directors are experienced, shareholder-aligned, and committed to long-term value creation—not personal agendas. Shareholders deserve the truth. Company Welcomes Ms. Isidoro to the BoardThe Board of Directors of Barnwell Industries, Inc. acknowledges and respects the outcome of the shareholder consent process and is pleased to welcome Heather Isidoro as a newly elected member of the Board. Ms. Isidoro brings a valuable perspective shaped by her leadership experience in the energy sector and her commitment to operational excellence. Her appointment reflects the voice of our shareholders, and the Board is committed to working collaboratively to advance the Company's strategy and long-term value creation. Joshua Horowitz, Chairman of the Executive Committee, commented: "We welcome Ms. Isidoro to the Board and look forward to working constructively with her. We believe her insights and expertise will contribute meaningfully to our efforts to create lasting value for all Barnwell stakeholders." Glass Lewis Again Rejects the Sherwood Group's Attempt to Take Control of BarnwellIn the Sherwood Group's consent solicitation, both leading proxy advisory firms Institutional Shareholder Services and Glass Lewis rejected the Sherwood Group's attempt to take control of the Company. In connection with the 2025 Annual Meeting, Glass Lewis is recommending shareholders vote FOR Ken Grossman, Craig Hopkins, Joshua Horowitz and Philip McPherson - and is only recommending Ms. Isidoro from the Sherwood Group's slate. Governance, Not EntrenchmentDespite Mr. Sherwood's repeated claims of "entrenchment" the Board has acted with integrity and responsibility throughout this process. Barnwell entered into two separate Cooperation Agreements with Mr. Sherwood in the past where he agreed to Board composition and made multiple attempts to resolve differences constructively. Unfortunately, those efforts were met with pressure tactics, misrepresentations, and shifting demands. Your Board Remains Focused on Shareholder ValueUnder the Board's oversight, Barnwell has: Executed profitable land sales in Hawaii Maintained discipline through volatile energy cycles Reduced non-proxy contest related SG&A expenses Continued exploring strategic capital allocation and growth opportunities including the recently announced sale of WRI Sherwood Has No Credible PlanTo be clear: Mr. Sherwood has no credible plan for Barnwell's future. He has offered no operating strategy, no vision, and no concrete roadmap for value creation. Instead, his campaign has been driven by personal grievance and a revolving door of nominee slates – many of whom lack relevant experience and independence. Sherwood Rejected Meaningful Influence – Including the ChairmanshipIn a gesture of good faith and cooperation, Barnwell formally offered Mr. Sherwood the Chairmanship of the Company—a level of influence few activists are ever offered. His rejection of this offer speaks volumes. Any serious shareholder advocate would have accepted the opportunity to lead and work collaboratively. Instead, Mr. Sherwood continues to pursue a campaign rooted in disruption rather than strategy. The Sherwood Group Took Questionable Steps in Connection With its Consent SolicitationThe Sherwood Group has already failed in taking a vote directly to shareholders – a process that they manipulated by failing to submit a supplemental vote of approximately 7,000 shares, which could have been outcome determinative. As previously announced, Barnwell is awaiting the Delaware Court of Chancery's decision on the pending lawsuit related to the validity of the Sherwood Group's nomination notice, which purported to nominate directors (consisting of a majority of individuals DIFFERENT from those nominees who appeared in the Sherwood Group's consent solicitation) to stand for election at Barnwell's upcoming 2025 annual meeting of shareholders. Barnwell earlier notified the Sherwood Group that the Company determined that the Sherwood Group's purported nomination notice failed to comply with applicable bylaws in numerous ways, and had decided to reject the Sherwood Group's nomination notice. The Company intends to supplement its proxy materials for the 2025 annual meeting of shareholders following receipt of the Court's decision. As previously stated, Barnwell remains open to engaging in constructive, good-faith settlement discussions with the Sherwood Group in pursuit of a resolution that represents the best interests of the Company and all shareholders. The Company believes that these governance matters should be resolved collaboratively and thoughtfully, wherever possible, to avoid unnecessary distraction and preserve focus on long-term value creation by developing its Canadian energy assets. If you have any questions or to revoke a previous submitted consent, please contact our proxy solicitor: Okapi Partners at (877) 869-0171 or by email at info@ Forward-Looking Statements Certain information contained in this press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current beliefs and expectations of our board and management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, include various estimates, forecasts, projections of Barnwell's future performance, statements of Barnwell's plans and objectives, our expectations regarding the outcome of the 2025 annual meeting of stockholders and our ability to successfully solicit proxies from our stockholders in connection with the 2025 annual meeting of stockholders. Forward-looking statements include phrases such as "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates," "assumes," "projects," "may," "will," "will be," "should," or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Any or all of the forward-looking statements may turn out to be incorrect or be affected by inaccurate assumptions Barnwell might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to the actions of the Sherwood Group, our ability to successfully solicit proxies from stockholders in connection with the 2025 annual meeting of stockholders, our ability to defend against any potential claims by the Sherwood Group, our ability to execute on our strategy and business plan and the other risks forth in the "Forward-Looking Statements," "Risk Factors" and other sections of Barnwell's Annual Report on Form 10-K for the fiscal year ended September 30, 2024 and Barnwell's other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein. CONTACT: Investors:Bruce Goldfarb / Chuck Garske(212) 297-0720Email: info@ Kenneth S. GrossmanVice Chairman of the Board of DirectorsEmail: kensgrossman@ View original content to download multimedia: SOURCE Barnwell Industries, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
BRN Shareholders Clearly Support Change on the Barnwell Board
Vero Beach, Florida--(Newsfile Corp. - May 14, 2025) - The Sherwood Group, a long-term and significant shareholder with approximately 29.90% of the issued and outstanding shares of Barnwell Industries, Inc. ("Barnwell" or "BRN") today issued the following letter to Barnwell shareholders following the closing of the Consent Solicitation: Dear Barnwell Shareholders: We wanted to thank all shareholders who participated in the Consent Solicitation process and supported change by submitting the Blue Card in favor of our proposals. Based upon the Consents that were submitted by The Sherwood Group, our preliminary report indicates the results of the Consent Solicitation below. Please note that these are preliminary results and subject to final tabulation and verification by an Independent Inspector of Election in the coming days: (i). 53.38% voted in favor of repealing any bylaw enacted by the Board on or after February 4, 2025;(ii). 53.38% voted in favor of removing Mr. Kinzler from the Board immediately;(iii). 53.39% voted in favor of electing oil and gas expert Ms. Isidoro to the Board immediately;(iv). 49.2% voted in favor of the election of Sherwood Group Nominee Sullivan;(v). 48.53% voted in favor of the election of Sherwood Group Nominees Cornell, Oran and Sherwood;(vi). 49.2% voted for Mr. Grossman's removal; and(vii). 47.48% voted for Mr. Horowitz's removal. Since a Consent Solicitation requires a high bar of 50% of all shares to vote in favor, we were successful in electing Heather Isidoro to the Board and removing Alex Kinzler from the Board. We were also successful in repealing the egregious Bylaw revision enacted by the Board that attempted to further limit shareholder rights. Unfortunately, we were unsuccessful in electing the balance of our proposed Board slate by very small margins. We believe that our failure to reach the 50% threshold for our other candidates was primarily due to the uniqueness of the Consent Solicitation and the predilection of institutional shareholders to vote in traditional proxy solicitations. Therefore, we hope to succeed on other Director nominees via Barnwell's upcoming annual meeting proxy vote. We must caution all shareholders that Barnwell's current entrenched management has filed a lawsuit in Delaware to keep our candidates off the ballot for the 2025 Annual Meeting, so the ability of shareholders who wish to support us to vote is currently in the hands of a Delaware court judge. Given the almost 50% support we received for our candidates in the Consent Solicitation, we are hopeful that the Judge rules that our candidates should be on the ballot for the 2025 Annual Meeting but if not, our supporters will not have a voice in Barnwell's future direction. As we noted in our previous releases, we originally launched our Consent Solicitation efforts because Barnwell's entrenched Board and management refused to set an annual meeting date, and we were concerned that the rapid financial deterioration in the Company's operations and the excessive spending by the Company on legal defense fees might deplete Barnwell's remaining cash resources to dangerously low levels. At this point, we are even more concerned about Barnwell's financial viability, and we believe that it is urgent that our Board nominees be elected in order to stabilize the Company and attempt a turnaround. We anxiously await Barnwell's report of its March 31, 2025 quarterly results which should be issued tomorrow on May 15 to see the Company's current financial situation. We have sent our Consent Solicitation results and tabulation to Barnwell and we have informed them that the Barnwell proxy statement for the 2025 Annual Meeting is now materially deficient and misleading given Mr. Kinzler's presence on the Barnwell slate. We have advocated for the 2025 Annual Meeting to be adjourned and have requested that the Company submit a new or amended proxy statement containing a universal proxy card with the Sherwood Group nominees (other than Ms. Isidoro who has already been elected to the Board by shareholders) and the management nominees so that finally, Barnwell shareholders can have a true choice in the remaining 4 available director slots. The Sherwood Group is prepared to allow shareholders to make their voice heard at the 2025 Annual Meeting, but it is clear that Kinzler, Grossman and Horowitz hope that their Delaware tactics allow them to proceed to the 2025 Annual Meeting uncontested. We hope that the Sherwood Group is able to move forward with a slate for the 2025 Annual Meeting. We hope justice for all shareholders prevails and what is better justice than choice. If you have any questions, please contact: Alliance Advisors200 Broadacres Drive, 3rd Floor, Bloomfield, NJ 07003Shareholders call toll-free: 1 (833) 215-7301Email: brn2025@ For media inquiries or further information, please contact: Alyssa BarryMedia Relations, Alliance Advisorsabarry@ To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Barnwell Industries Urges Shareholders to Vote in Accordance with ISS Recommendation and Reject Ned Sherwood's Attempt to Take Over the Company
HONOLULU, May 12, 2025 /PRNewswire/ -- Barnwell Industries, Inc. (NYSE American: BRN) ("Barnwell" or the "Company") today urged shareholders to follow the recommendation by leading proxy advisory firm Institutional Shareholder Services Inc. ("ISS") in its May 7, 2025, report in which it recommended just one candidate, Heather Isidoro, from the slate put forward by Ned Sherwood and his affiliates (the "Sherwood Group"). In its report, ISS stated1: As such, votes on the dissident card for the removal of [Alex] Kinzler, and against the removal of Kenneth Grossman, Joshua Horowitz, and Douglas Woodrum are warranted; as is support for dissident nominee Isidoro, and votes against dissident nominees James Cornell, Stuart Oran, Sherwood, and Gregory Sullivan. Barnwell issued the following statement: The Company is disappointed that ISS recommended the removal of Mr. Kinzler from Barnwell's Board, however, we believe the election of Ms. Isidoro and removal of Mr. Kinzler is a reasonable outcome. Such an outcome is also consistent with the opinion of proxy advisory firms ISS and Glass Lewis that replacing the entire Barnwell Board with an entirely new slate – and no plan for the Company – would be imprudent, and we believe, value destructive. We are pleased that, by rejecting the Sherwood Group's attempt to replace the Barnwell Board of Directors, ISS recognizes the Sherwood Group has no credible plan for the Company. A key criteria for ISS in making recommendations when a shareholder is seeking control is whether that shareholder has a plan – and the Sherwood Group decidedly does not. Barnwell strongly urges shareholders to protect the value of their investment by voting the WHITE consent revocation card today and rejecting the Sherwood Group's agenda. If you have any questions or to revoke a previous submitted consent, please contact our proxy solicitor: Okapi Partners at (877) 869-0171 or by email at info@ 1 Permission to use quotations neither sought nor obtained. Forward-Looking Statements Certain information contained in this press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current beliefs and expectations of our board and management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, include various estimates, forecasts, projections of Barnwell's future performance, statements of Barnwell's plans and objectives, our expectations regarding the effect of the Sherwood Group's Consent Solicitation and our ability to successfully solicit revocations of consents from our stockholders to reject the Sherwood Group's proposals. Forward-looking statements include phrases such as "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates," "assumes," "projects," "may," "will," "will be," "should," or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Any or all of the forward-looking statements may turn out to be incorrect or be affected by inaccurate assumptions Barnwell might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to the actions of the Sherwood Group, our ability to successfully solicit revocations of consents from our stockholders to reject the Sherwood Group's proposals, our ability to defend against any potential claims by the Sherwood Group, our ability to execute on our strategy and business plan and the other risks forth in the "Forward-Looking Statements," "Risk Factors" and other sections of Barnwell's Annual Report on Form 10-K for the fiscal year ended September 30, 2024 and Barnwell's other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein. View original content to download multimedia: SOURCE Barnwell Industries, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
