Kentucky USA Energy will continue to implement KY USA Energy’s business plan and will retain KY USA Energy’s senior management, led by CEO Steven Eversole, and CFO Sam Winer.
Under the terms of the merger agreement, KY USA Energy’s shareholders will receive shares of Kentucky USA Energy in exchange for their shares of KY USA Energy.
Mr Eversole said: The successful completion of the merger represents a major milestone for Kentucky USA Energy, positioning the company for accelerated growth. We are excited about the future of our company.
We expect that the corporate visibility provided by this merger will lead to and enable us to complete certain financings and leasehold acquisitions, allowing us to accelerate our drilling and development activities.
