North American Oil & Gas Corp. (the "Company" or "NAMG") is pleased to provide
the following Funding Update
VENTURA, Calif., March 28, 2014
VENTURA, Calif., March 28, 2014 /PRNewswire/ --North American Oil & Gas Corp.
(the "Company" or "NAMG") is pleased to announce that the Company has entered
into a $5,000,000 investment agreement with Beaufort Ventures PLC
The investment allows, but does not obligate, the Company to issue and sell up
to $5,000,000 worth of the Company's common stock over a 36-month term
following the effectiveness of a registration statement the Company has agreed
to file with the Securities and Exchange Commission. The Company has filed an
8-K with the Securities and Exchange Commission further detailing the
transaction. This transaction is not an Equity Line of Credit.
"This equity investment provides NAMG with the capital to execute on its
business plan of drilling wells, acquiring new acreage and pursuing new play
concepts aggressively," stated Robert Rosenthal, President and CEO of NAMG.
"Beaufort's support and investment allows maximum flexibility for NAMG to
allocate its capital effectively and pursue its business objectives."
About North American Oil & Gas Corp. (OTCBB - NAMG)
North American Oil & Gas Corp. is a publicly listed (OTCBB - NAMG) oil and gas
company. The Company is focused on the prolific San Joaquin Basin, onshore
California, with existing foundation assets targeting exploration and
exploitation of high impact oil and gas projects located near infrastructure
and existing discoveries.
As of March 28, 2014, NAMG owned interests in approximately 8,243 gross acres
(5,159 net acres) in the southern San Joaquin Basin. 1) White Wolf 4,823
gross (2,266 net) acres; 2) Tejon Main 2,874 gross (2,586 net) acres; and 3)
Tejon Extension 546 gross (307 net) acres.
This press release contains "forward-looking information" that is based on the
Company's current expectations, estimates, forecasts and projections. This
forward-looking information includes, among other things, statements with
respect to the Company's plans, outlook, business strategy and exploration and
development of the Company's properties. The words "may", "would", "could",
"should", "will", "likely", "expect", "anticipate", "intend", "estimate",
"plan", "forecast", "project" and "believe" or other similar words and phrases
are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the Company's actual results,
level of activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking information. Such factors
include, but are not limited to: the ability to raise sufficient capital to
fund exploration and development; the quantity of and future net revenues from
the Company's reserves; oil and natural gas production levels; commodity
prices, foreign currency exchange rates and interest rates; capital
expenditure programs and other expenditures; supply and demand for oil and
natural gas; schedules and timing of certain projects and the Company's
strategy for growth; competitive conditions; the Company's future operating
and financial results; and treatment under governmental and other regulatory
regimes and tax, environmental and other laws.
This list is not exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully and
readers should not place undue reliance on such forward-looking information.
The Company disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.
SOURCE North American Oil & Gas Corp.
Contact: Robert (Bob) Rosenthal, Chairman, President and CEO, telephone: +1
805 643 0385, fax: +1 805 643 0211, Website: www.namoag.com
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