AMAZING ENERGY OIL AND GAS, CO. (OTCMKTS:AMAZ) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02
Unregistered Sales of Equity Securities
On July 18, 2018 Amazing Energy Oil & Gas, Co. (“Amazing” or the “Company”) closed a private placement of its securities in which it received subscriptions and commitments to acquire a total of 13,620,000 shares of its common stock at a purchase price of twenty-five cents per share ($.25 p/share) (the “Offering”). No Warrants were attached. to the Offering, the Company raised a total of Three million four hundred five thousand dollars ($3,405,000) from 36 accredited investors to Rule 506(b) of Regulation D promulgated under the Securities Act of 1933.
About AMAZING ENERGY OIL AND GAS, CO. (OTCMKTS:AMAZ)
Amazing Energy Oil and Gas, Co. is an independent energy company. The Company is engaged in the business of exploration, development and production of oil and gas in the Permian Basin of West Texas. The Company is also engaged in the production and sale of oil and natural gas. The Company is developing resource potential from the Queens formation. Its additional drilling targets include the Greyburg, San Andreas and Devonian zones. As of July 31, 2016, the Company had leasehold rights within approximately 70,000 contiguous acres in Pecos County, Texas, which lies within the Permian Basin. The property is located in the Northeast region of the County. The Pecos leasehold lies within the White & Baker Field and portions of the Walker Field. The Pecos leasehold consists of multiple leases. As of July 31, 2016, its estimated net proved reserves were 745,190 barrels of oil equivalent (BOE). As of July 31, 2016, the Company owned 22 oil and gas wells in the Permian Basin.
