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WESTPORT, Conn.--(BUSINESS WIRE)--
The American Energy Group, Ltd. (AEGG) announced today that it has sold 1,450,000 Common Shares to six individual investors for a cash consideration of $0.20 per share or a total consideration of $290,000 to the Company. The proceeds of the sale will be used for general and administrative operating capital and the legal expenses for the Company’s pending arbitration action.
This news release contains forward-looking statements, including estimated time lines for future events. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, including potential production rates and potential reserves, which estimates are unproven and not based upon actual production data or historical facts. Forward-looking statements are subject to uncertainties and risks including, but not limited to, economic conditions, drilling risks and actual operating conditions and results, deviation in costs of critical equipment and services, deviation in production decline rates, the impact of competition and commodity pricing, and domestic and foreign governmental regulation and approvals.
All forward-looking statements in this disclosure, whether made by, or on behalf of the Company or by or on behalf of the project operator, are expressly qualified by the above cautionary statements and any other cautionary statements which accompany the forward-looking statements. In addition, the Company disclaims any obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
For further information contact Pierce Onthank, President and CEO at (203) 222-7315 or [email protected].
The American Energy Group, Ltd.
Pierce Onthank, 203-222-7315
President and CEO