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Delta Oil & Gas, Inc. offer to acquire the Stallion Group
closes successfully
March 27, 2009
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:
Number
of
Common Shares Tendered |
Percentage
of
Outstanding Common Shares |
58,635,139 |
80% |
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.
Cautionary Statements
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
in 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.
Greg Werbowski
1.866.355.3644
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