CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX) Files An 8-K Unregistered Sales of Equity Securities
ITEM 3.02 Unregistered Sales of Equity Securities.
On January 5, 2017, Cardinal Energy Group, Inc. (the Company)
filed a Form 8-K in which it reported, in part, that on or about
December 30, 2016, the Company issued to each of Meyers
Associates, L.P. and to Gregory R. Traina 150,000,000 shares each
of its restricted common stock in connection with placement agent
and other services rendered to the Company, resulting in a total
issuance of 300,000,000 shares of restricted common stock
(collectively, the Shares).
Effective on or about February 10, 2017, 250,000,000 of the
Shares were rescinded and returned to the treasury of the Company
resulting in 50,000,000 of the Shares from the original issuance
of 300,000,000 Shares described above remaining issued and
outstanding.
ITEM 5.02. Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On March 17, 2017, John Jordan resigned as the Chief Financial
Officer of the Company. Mr. Jordans resignation was not the
result of any disagreement with the Company on any matter
relating to its operation, policies (including accounting or
financial policies) or practices. Mr. Jordan will continue to
serve as a Director of the Company. Mr. Jordans resignation
letter is attached hereto as Exhibit 17.1.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
| Exhibit No. | Description | |
| 17.1 | Resignation Letter of Mr. Jordan, dated March 17, 2017. |
About CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX)
Cardinal Energy Group, Inc. is engaged in the business of acquiring, developing and operating oil and gas leases. These operations are primarily focused on properties in which it holds a leasehold interest. The Company owns interests in oil and gas leases located in the north-central section of Texas. It holds approximately 85% working interest in the Dawson-Conway leases located in Shackelford County, Texas. The property consists of approximately 41 wells on over 618 acres. It holds approximately 100% working interest in the Powers-Sanders lease located in Shackelford County, Texas. The property consists of approximately 385 acres and over five producing oil wells. It holds approximately 100% working interest in the Stroebel-Broyles leases located in Eastland County, Texas. It holds approximately 43.75% working interest in the Fortune prospect located in Shackelford County, Texas. It holds over 100% working interest in the Bradford West lease. CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX) Recent Trading Information
CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX) closed its last trading session up +0.00010 at 0.00190 with shares trading hands.
