EnerJex Resources Inc (ENRJ)

[Penny Stocks 2.0]

Upon completion of the Merger transaction, EnerJex’s Common and Series A Preferred shareholders will own approximately 15% of the combined company.  The Company is valuing AgEagle at approximately $20,000,000 prior to the completion of any financing that occurs in advance of the merger.  


The transaction, which has been approved by the board of directors of both companies, is expected to occur late in the fourth quarter of 2017 or first quarter of 2018, subject to various closing conditions, including, among other things: approval by the stockholders of both EnerJex and AgEagle; the raising of at least $4 million prior to the consummation of the merger; approval by NYSE for the listing of the combined company’s common stock on the NYSE American exchange immediately upon consummation of the merger; and other closing conditions.  The Company intends to dispose of its principal assets, primarily its Kansas oil and gas properties, concurrently with the closing of the Merger.  In the event the Merger is not consummated the Company does not have a present intention to dispose of the above described assets.