BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure
On October 23, 2019, Black Ridge Oil & Gas, Inc. (“Black Ridge” or the “Company”) issued a press release announcing that its Board of Directors has undertaken a strategic review to identify, review and explore alternatives for the Company, including a merger, acquisition, or a business combination. The Company cautions that there can be no assurance that a potential transaction will occur, that any such potential transaction that is pursued will be approved or consummated, or what a potential transaction would mean for value to Black Ridge shareholders. The Company does not intend to disclose developments relating to its strategic review unless and until its Board of Directors has approved a specific agreement or transaction.
The Company currently owns 2,685,500 shares of Allied Esports Entertainment, Inc. (NASDAQ: AESE). (“Sponsor Shares”). 537,100 of the Sponsor Shares are subject to distribution rights to officers and directors under the 2018 Management Incentive Plan dated March 6, 2018. Black Ridge is evaluating plans for the remaining Sponsor Shares which could include a distribution of some or all of the Sponsor Share proceeds after expiration of the lock-up agreement on August 9, 2020.
The full text of the press release is furnished as Exhibit 99.1 and is available on the Company’s investor relations website at https://ir.stockpr.com/blackridgeoil/overview.
This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits