LITTLETON, Colo.--(BUSINESS WIRE)--On November 21, 2013, Diversified Resources, Inc. acquired of all the outstanding shares of Natural Resources Group, Inc. (NRG), a privately held oil and gas exploration and production company with operations in the D-J Basin and the Raton Basin of Colorado.
Diversified Resources (OTCQB: DDRI) issued 14,558,150 shares of common stock to the NRG shareholders, retired 2,680,033 shares, leaving a total of 17,128,117 shares outstanding after the transaction. NRG will operate as a wholly owned subsidiary of Diversified going forward.
Paul Laird, the newly appointed CEO of Diversified commented: “We are very excited to be a public entity and want to thank all our shareholders for their patience during this process. We look forward to growing our company by developing our Colorado assets and expanding our base to include other opportunities that have or will present themselves in the energy business going forward. We have a very capable board of directors and a dedicated staff.”
ABOUT DIVERSIFIED RESOURCES, INC.
Diversified is a Colorado-based energy company focused on the development of its D-J Basin and Raton Basin assets. Those assets include leases in Weld, Adams, Broomfield and Las Animas Counties, Colorado.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release regarding our financial position, business strategy, and plans and objectives of management for future operations and industry conditions, are forward-looking statements. These forward-looking statements are based on current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
