BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC) Files An 8-K Other Events
Item 8.01. Other Events.
On December 19, 2018, Black Ridge Oil & Gas, Inc. (the “Company” or “Black Ridge”) announced the execution of a merger agreement between Black Ridge Acquisition Corp. (NASDAQ: BRAC, BRACU, BRACW, BRACR) (“BRAC”) and assets owned by Ourgame International Holdings Ltd (“Ourgame”). The entities owned by Ourgame consist of Allied Esports International, Inc. and WPT Enterprises, Inc. Upon completion of the transaction, it is expected that BRAC will be renamed Allied Esports Entertainment, Inc. and its common stock is expected to trade on the NASDAQ Capital Market Exchange under the ticker symbol AESE The transaction is subject to certain closing conditions, including BRAC shareholder approval, and is expected to close in the first quarter of 2019.
Black Ridge was the sponsor of BRAC, a special purpose acquisition company (“SPAC”), which began trading on the NASDAQ Capital Market on October 5, 2017. Upon completion of the transaction, as sponsor of the SPAC, Black Ridge is expected to own 3,939,500 shares of BRAC common stock, subject to a one-year lockup period.
This summary is qualified in its entirety by reference to the terms of the merger agreement which was filed as an exhibit to a Current Report on Form 8-K filed by BRAC on December 19, 2018 and the description of the transaction contained in such Form 8-K.
Item 9.01. Financial Statements and Exhibits.
Black Ridge Oil & Gas, Inc. Exhibit
EX-99.1 2 brog_ex9901.htm PRESS RELEASE Exhibit 99.1 Black Ridge Oil & Gas,…
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About BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC)
Black Ridge Oil & Gas, Inc. is an oil and natural gas exploration and production company. The Company’s properties are located in North Dakota and Montana. The Company is engaged in the acquisition, exploration, development and production of crude oil and natural gas properties, primarily in the Bakken and Three Forks trends in North Dakota and Montana. The Company is engaged in crude oil and natural gas exploration and production by participating on a pro-rata basis with operators in wells drilled and completed in spacing units that include its acreage under lease. It has proven oil and gas reserves of approximately 2.3 million barrels of oil equivalents, owns interest in over 349 gross (10.95 net) producing oil and gas wells, and controls rights to mineral leases covering approximately 8,100 net acres for prospective drilling to the Bakken and/or Three Forks formations. The Company controls approximately 7,400 net acres in the Williston Basin.