$4,600,000 Series D Preferred Stock Offering’
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Posted On: 04/11/2017 8:52:17 PM
$4,600,000 Series D Preferred Stock Offering’
http://www.cardinalenergygroup.com/news-room/
Abilene, TX April 11, 2017 – Cardinal Energy Group, Inc (“Cardinal Energy” or “the Company”) (OTCQB: CEGX) announces the engagement of Capital City Securities, LLC based in Columbus, Ohio to be one of the placement agents for our $4,600,000 Series D Preferred Stock Offering. The Company filed with the Nevada Secretary of State on March 30, 2017 an amendment to the Certificate of Designation for the Company’s Series A Preferred Stock and filed three additional Certificates of Designations to designate the Series B Preferred Stock, the Series C Preferred Stock and the Series D Preferred Stock. (Refer to SEC Form 8-K filed on March 31, 2017 for a complete description of each designation)
The Company authorized 1,000,000 shares of Series B Preferred Stock, which will be issued to EOI Eagle Operating, Inc (“Eagle”) headquartered in Frisco, Texas upon the execution of the Final Definitive Agreement between Eagle and Cardinal Energy to acquire Eagle’s oil & gas leases, existing wells and equipment. The Series B Preferred stock can convert into 10% of the issued and outstanding common stock of the Company. (Refer to SEC Form 8-K filed on March 31, 2017 for a complete description of the designation)
The Company authorized 4,600,000 shares of Series D Preferred Stock with a stated value of $1.00 per share. The Series D Preferred Stock will pay a 5% annualized dividend, can convert into 55% of the issued and outstanding common stock of the Company and will be issued together with an aggregate 5% ORRI (Overriding Royalty Interest) on the assets (leases with 60 existing wells and new wells) acquired with the Net Proceeds from the sale of the 4,600,000 shares of Series […]
http://www.cardinalenergygroup.com/news-room/
Abilene, TX April 11, 2017 – Cardinal Energy Group, Inc (“Cardinal Energy” or “the Company”) (OTCQB: CEGX) announces the engagement of Capital City Securities, LLC based in Columbus, Ohio to be one of the placement agents for our $4,600,000 Series D Preferred Stock Offering. The Company filed with the Nevada Secretary of State on March 30, 2017 an amendment to the Certificate of Designation for the Company’s Series A Preferred Stock and filed three additional Certificates of Designations to designate the Series B Preferred Stock, the Series C Preferred Stock and the Series D Preferred Stock. (Refer to SEC Form 8-K filed on March 31, 2017 for a complete description of each designation)
The Company authorized 1,000,000 shares of Series B Preferred Stock, which will be issued to EOI Eagle Operating, Inc (“Eagle”) headquartered in Frisco, Texas upon the execution of the Final Definitive Agreement between Eagle and Cardinal Energy to acquire Eagle’s oil & gas leases, existing wells and equipment. The Series B Preferred stock can convert into 10% of the issued and outstanding common stock of the Company. (Refer to SEC Form 8-K filed on March 31, 2017 for a complete description of the designation)
The Company authorized 4,600,000 shares of Series D Preferred Stock with a stated value of $1.00 per share. The Series D Preferred Stock will pay a 5% annualized dividend, can convert into 55% of the issued and outstanding common stock of the Company and will be issued together with an aggregate 5% ORRI (Overriding Royalty Interest) on the assets (leases with 60 existing wells and new wells) acquired with the Net Proceeds from the sale of the 4,600,000 shares of Series […]
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