CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX) Files An 8-K Unregistered Sales of Equity Securities
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES.
On December 12, 2016, the Company filed a Definitive 14C in which
it reported that it had 83,429,557 shares of common stock issued
and outstanding. Thereafter and through December 21, 2016, the
Company issued 7,500,000 shares to an unrelated third party. On
or about December 27, 2016, the Company issued an additional
4,500,000 shares to that same third party.
The issuance of the above shares was exempt from the registration
requirements of Section 5 of the Securities Act of 1933 (the Act)
to Section 3(a)(10) thereto in accordance with the Court Order in
favor of the third party and as reported in our Form 8-K filed
December 19, 2016. Following the issuances and as of the date of
this filing, the Company has a total of 95,429,557 shares of
common stock issued and outstanding.
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 down -0.00050 at 0.00130 with shares trading hands.
