American Energy New (AEGG) 0.1800 $AEGG
The American Energy Group, Ltd. Announces Sale of Common Shares
GlobeNewswire - Wed May 13, 4:00PM CDT
The American Energy Group, Ltd. (AEGG) announced today that it has sold 316,250 Common Shares to three (3) individual investors for a cash consideration of $0.16 per share or a total consideration of $50,600 to the Company. The proceeds of each transaction will be used for general and administrative operating capital and legal expenses.
The American Energy Group, Ltd. Wins Arbitration and Obtains Significant Award from ICC Tribunal
GlobeNewswire - Wed Apr 22, 8:00AM CDT
The American Energy Group, Ltd. (AEGG) announced today that the three-person arbitration tribunal (Arbitration Tribunal) of the International Chamber of Commerce (ICC) International Court of Arbitration has rendered its Partial Final Award signed April 15, 2015 (Award) in the pending arbitration proceedings commenced by AEGG in April, 2012 against Hycarbex-American Energy, Inc. (Hycarbex), Hycarbex Asia Pte. Ltd. (Hycarbex Asia) and Hydro Tur, Ltd. (Hydro Tur). The Award declares that the November 9, 2003 Stock Purchase Agreement between AEGG, Hycarbex and Hydro-Tur, which was amended on February 16, 2004, and December 15, 2009, is void ab initio and of no legal effect on account of the fraud and misrepresentations of Hycarbex, Hydro-Tur and Hycarbex-Asia and that AEGG is thus the 100% owner of the common stock of Hycarbex relating back to the original Stock Purchase Agreement date of November 9, 2003. In connection with its findings, the Arbitration Tribunal ordered that the register of shareholders for Hycarbex be corrected to reflect AEGG as the owner of 100% of the common stock, that Hycarbex and Hycarbex-Asia take any and all steps necessary to effect the rectification of the register of shareholders of Hycarbex to reflect AEGG as the owner of 100% of the common stock, and that Hycarbex and Hycarbex-Asia bear all costs of the arbitration proceedings, including AEGG's legal costs, which costs and fees are to be fixed by the Arbitration Tribunal in a subsequent award after submission of the total costs and fees by AEGG. The Arbitration Tribunal dismissed Hydro-Tur's application for costs.
The American Energy Group, Ltd. Announces Loan Transaction
Filing Services Canada - Fri Jun 13, 5:30PM CDT
The American Energy Group, Ltd. (AEGG - OTCQB),announced today that it has entered into a loan transaction with an institutional investor for the borrowing of $300,000. The funds will be used solely for the required cost advance required by the International Chamber of Commerce (ICC) tribunal in connection with the scheduled June 16, 2014 arbitration final hearing in which the Company's claims against Hycarbex American Energy, Inc., Hycarbex Asia Pte. Ltd. and Hydro Tur (Energy) Ltd. will be adjudicated. The terms of the loan include a maturity date of August 5, 2015, an interest rate of 5.0% per annum and debt reduction payments prior to maturity only out of 25% of any proceeds of hydrocarbon production received by the Company, any ICC refunds, or any lump sum settlement payments from any participant. The loan is secured by a lien on the Company's non-producing Texas oil and gas interests. The loan also includes the issuance to the lender of 1.5 million warrants to purchase the Company's common stock at $0.20 per share for twenty four months.
The American Energy Group, Ltd. Announces Sale of Common Shares
GlobeNewswire - Wed May 13, 4:00PM CDT
The American Energy Group, Ltd. (AEGG) announced today that it has sold 316,250 Common Shares to three (3) individual investors for a cash consideration of $0.16 per share or a total consideration of $50,600 to the Company. The proceeds of each transaction will be used for general and administrative operating capital and legal expenses.
The American Energy Group, Ltd. Wins Arbitration and Obtains Significant Award from ICC Tribunal
GlobeNewswire - Wed Apr 22, 8:00AM CDT
The American Energy Group, Ltd. (AEGG) announced today that the three-person arbitration tribunal (Arbitration Tribunal) of the International Chamber of Commerce (ICC) International Court of Arbitration has rendered its Partial Final Award signed April 15, 2015 (Award) in the pending arbitration proceedings commenced by AEGG in April, 2012 against Hycarbex-American Energy, Inc. (Hycarbex), Hycarbex Asia Pte. Ltd. (Hycarbex Asia) and Hydro Tur, Ltd. (Hydro Tur). The Award declares that the November 9, 2003 Stock Purchase Agreement between AEGG, Hycarbex and Hydro-Tur, which was amended on February 16, 2004, and December 15, 2009, is void ab initio and of no legal effect on account of the fraud and misrepresentations of Hycarbex, Hydro-Tur and Hycarbex-Asia and that AEGG is thus the 100% owner of the common stock of Hycarbex relating back to the original Stock Purchase Agreement date of November 9, 2003. In connection with its findings, the Arbitration Tribunal ordered that the register of shareholders for Hycarbex be corrected to reflect AEGG as the owner of 100% of the common stock, that Hycarbex and Hycarbex-Asia take any and all steps necessary to effect the rectification of the register of shareholders of Hycarbex to reflect AEGG as the owner of 100% of the common stock, and that Hycarbex and Hycarbex-Asia bear all costs of the arbitration proceedings, including AEGG's legal costs, which costs and fees are to be fixed by the Arbitration Tribunal in a subsequent award after submission of the total costs and fees by AEGG. The Arbitration Tribunal dismissed Hydro-Tur's application for costs.
The American Energy Group, Ltd. Announces Loan Transaction
Filing Services Canada - Fri Jun 13, 5:30PM CDT
The American Energy Group, Ltd. (AEGG - OTCQB),announced today that it has entered into a loan transaction with an institutional investor for the borrowing of $300,000. The funds will be used solely for the required cost advance required by the International Chamber of Commerce (ICC) tribunal in connection with the scheduled June 16, 2014 arbitration final hearing in which the Company's claims against Hycarbex American Energy, Inc., Hycarbex Asia Pte. Ltd. and Hydro Tur (Energy) Ltd. will be adjudicated. The terms of the loan include a maturity date of August 5, 2015, an interest rate of 5.0% per annum and debt reduction payments prior to maturity only out of 25% of any proceeds of hydrocarbon production received by the Company, any ICC refunds, or any lump sum settlement payments from any participant. The loan is secured by a lien on the Company's non-producing Texas oil and gas interests. The loan also includes the issuance to the lender of 1.5 million warrants to purchase the Company's common stock at $0.20 per share for twenty four months.
