Black Ridge Oil & Gas, Inc. Sponsored SPAC Closes Business Combination
12 Agosto 2019 - 2:00PM
Business Wire
Black Ridge Oil & Gas, Inc. (the “Company” or “Black Ridge”)
(OTCQB: ANFC) today announced the closing of the merger agreement
between Black Ridge Acquisition Corp. (“BRAC”) (NASDAQ: BRAC,
BRACU, BRACW, BRACR), Allied Esports International, Inc. and WPT
Enterprises, Inc. BRAC will be renamed Allied Esports
Entertainment, Inc. and its common stock is expected to trade on
the NASDAQ Capital Market Exchange under the ticker symbol AESE
beginning on or about Monday, August 12, 2019.
Black Ridge was the sponsor of BRAC, a special purpose
acquisition company (“SPAC”), which began trading on the NASDAQ
Capital Market on October 5, 2017. Following amendments to the
merger agreement detailed in Form 8-K dated August 6, 2019, Black
Ridge owns 2,685,500 shares of BRAC common stock (“Sponsor
Shares”). Black Ridge has granted distribution rights to a portion
of the Sponsor Shares to its officers and directors under the 2018
Management Incentive Plan detailed in the Form 8-K dated March 6,
2018.
“We are thrilled with the closing of the transaction and look
forward to seeing Allied Esports Entertainment execute on the
tremendous opportunities in the esports market,” commented Black
Ridge CEO Ken DeCubellis. “In the coming months, we expect to
provide Black Ridge shareholders with our future plan for Black
Ridge, including potential distribution of some or all of the
Sponsor Share proceeds.”
A detailed description of the transaction can be found in a
Current Report on Form 8-K to be filed by BRAC with the Securities
and Exchange Commission. Interested parties can obtain a copy of
the Form 8-K, without charge, at the Securities and Exchange
Commission’s internet site (http://www.sec.gov).
About the Company
Black Ridge Oil & Gas is based in Minneapolis, Minnesota.
For additional information, visit the Company's website at
www.blackridgeoil.com.
Forward Looking Statements
Certain statements contained herein, which are not historical,
are forward-looking statements that are subject to risks and
uncertainties not known or disclosed herein that could cause actual
results to differ materially from those expressed herein. These
statements may include projections and other "forward-looking
statements" within the meaning of the federal securities laws. Any
such projections or statements reflect management's current views
about future events and financial performance. No assurances can be
given that such events or performance will occur as projected or
that share prices will be achieved and actual results may differ
materially from those projected. Important factors that could cause
the actual results to differ materially from those projected
include, without limitation, the possibility that the transaction
between BRAC and entities owned by Ourgame does not close,
including due to the failure to receive required security holder
approvals or regulatory approvals or the failure of other closing
conditions, general economic or industry conditions nationally
and/or in the communities in which our Company conducts business,
legislation or regulatory requirements, conditions of the
securities markets, our ability to raise capital or have access to
debt financing, changes in accounting principles, policies or
guidelines, financial or political instability, acts of war or
terrorism, increases in operator costs, other economic,
competitive, governmental, regulatory and technical factors
affecting our Company's operations, products, services and prices
and other risks inherent in the Company's businesses that are
detailed in the Company's Securities and Exchange Commission
("SEC") filings. Readers are encouraged to review these risks in
the Company's SEC filings.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there by any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No portion of Black
Ridge’s websites is incorporated by reference into or otherwise
deemed to be a part of this news release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190812005160/en/
James Moe Black Ridge Oil & Gas, Inc.
952-426-1241
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