NAMG, amazing news just out:
North American Oil & Gas Corp. (the "Company" or "NAMG") is pleased to provide the following Funding Update
2014-03-28 08:00 ET - News Release
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 ("Beaufort").
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."