Delta International Oil & Gas Inc. (OTCMKTS:DLTZ) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry Into a Material Definitive Agreement.
On March 19, 2018, the Company entered into a Securities Exchange Agreement, dated as of March 14, 2018 (the “Agreement”), with American Green, Inc., a Wyoming corporation (“American Green”), and Nipton, Inc., a California corporation, a wholly-owned subsidiary of American Green. The Agreement provides for the acquisition by the Company of 50% of the issued and outstanding equity securities of Nipton, Inc. from American Green (the “Nipton Acquisition”) in exchange for shares of the Company’s Series A Convertible Preferred Stock that are convertible into 160,000,000 shares of Delta common stock. Following the closing of the Nipton Acquisition, expected to take place in the next several weeks, Nipton, Inc. would become a wholly-owned subsidiary of the Company, with American Green, the former stockholder of Nipton, Inc., owning a controlling interest of approximately 82% of the outstanding shares of common stock of Delta.
Item 9.01 Financial Statements and Exhibits.
Delta International Oil & Gas Inc. ExhibitEX-10.65 2 f8k031918ex10-65_deltainter.htm SECURITIES EXCHANGE AGREEMENT,…To view the full exhibit click here
About Delta International Oil & Gas Inc. (OTCMKTS:DLTZ)
Delta International Oil & Gas Inc. is an independent oil and gas company. The Company is engaged in oil and gas concession investments in Argentina. The Company also has ownership interests in oil and gas development and exploration rights in Argentina. The primary focus of its business has been its subsidiary, South American Hedge Fund LLC (SAHF), which has investments in oil and gas concessions in Argentina. SAHF holds interests in three concessions, which include Tartagal Oriental (Tartagal), Morillo and Valle de Lerma. Its Tartagal exploration license area covers approximately 7,065 square kilometers in Salta Province, located in the northern part of Argentina. Its Morillo exploration license area covers approximately 3,520 square kilometers in Salta Province, contiguous with and south of the Tartagal Oriental license. Its Valle de Lerma block is located in the province of Salta in the northwestern region of Argentina and has an area of approximately 5,260 square kilometers.