Delta Oil and Gas, Inc, (OTC:BB DOIG) announced the successful acquisition of the offer to acquire the outstanding shares of The Stallion Group.
Delta Oil & Gas has accepted the following number and approximate percentage of common shares of The Stallion Group based on the outstanding shares today:
Common Shares Tendered
Outstanding Common Shares
Delta Oil & Gas is pleased that shareholders of The Stallion Group have accepted the offer. The Company will now move quickly to integrate The Stallion Group into its business.
Under this offer, Delta Oil & Gas offered 0.333333 of its common shares and $0.0008 in cash for each outstanding common share of The Stallion Group. The aggregate number of shares of Delta Oil & Gas common stock to be issued in the offer will be approximately 19,545,026, which will represent approximately 80% of our outstanding stock, following the transaction. In connection with this offer, Delta will also pay approximately $46,908 in cash.
This press release contains certain “forward-looking statements.” Such forward-looking statements are often identified by words such as “intends”, “anticipates”, “believes”, “expects” and “hopes” and include, without limitation, statements regarding the Company’s plan of business operations, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, those set forth in the Company’s Annual Report on Form 10-KSB for the fiscal year ended December 31, 2007, under the caption “Risk Factors” and n other reports filed with the SEC. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.
This communication is neither an offer to purchase, nor a solicitation of an offer to sell, shares of Delta or any other entity. This communication is not a solicitation of a proxy from a security holder of the Company or The Stallion Group. The Company has filed a registration statement with the SEC with regard to the proposed offer for The Stallion Group. YOU ARE URGED TO READ THE PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS IF AND WHEN FILED WITH THE SEC AND THE SECURITIES COMMISSIONS OR EQUIVALENT REGULATORY AUTHORITIES IN CANADA, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. You will be able to obtain any such prospectus or proxy statement and any other documents filed with the SEC free of charge at the SEC’s website, www.sec.gov, and filed with the securities commissions or equivalent regulatory authorities in Canada at the following website, www.sedar.com. In addition, you may obtain a prospectus and the proxy statement (if and when it becomes available) and the other documents filed by the Company with the SEC and the securities commissions or equivalent regulatory authorities in Canada by requesting them in writing from Delta Oil & Gas, Inc., Attention: Investor Relations, Telephone: 1.866.355.3644.
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