September 29, 2017
U.S. Oil & Gas Plc.
(“US Oil” or the “Company”)
Placing of Ordinary Shares
U.S. Oil & Gas Plc, (“USOIL” or the “Company”), the oil and gas exploration company with assets in Nevada, is pleased to announce that it has placed with private investors 1,901,807 new ordinary shares of .0001 Euro each (the “Placing Shares”) at a placing price of STG .30 per share including a share premium of .3299 Euro on each Placing Share to raise gross proceeds of circa $748,988. Each Placing Share will rank pari passu with each ordinary share currently in existence.
The proceeds of the placing will be used to provide US Oil with additional working capital, including the funding of drilling operations. The net proceeds to be received by the Company are circa $748,988. The 1,901,807 Placing Shares will shortly be issued through CREST.
Following the placing, the issued share capital of the Company will increase to 57,434,974 ordinary shares of .0001 Euro each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
The following parties have an interest of more than 3% in the shares of the Company:
Name No of Shares Percentage holding
Brian McDonnell 3,913,234 6.8%
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS
Neither this announcement nor the information contained herein constitutes an offer or solicitation by U.S. Oil and Gas Plc for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.
For further information contact:
Brian McDonnell, Chief Executive Officer +353 (1) 631 9022
About U.S. Oil & Gas:
U.S. Oil & Gas plc is an oil and gas exploration company with a strategy to identify and acquire oil and gas assets in the early phase of the upstream life-cycle and mature them. The Company’s
main asset is in Nye County, Nevada where it holds the entire share capital of US-based company, Major Oil International LLC (“Major Oil”). Major Oil has acquired rights to exploration and development acreage in Hot Creek Valley, Nye County, adjacent to the oil and gas rich Railroad Valley area of Nevada, both of which are part of the Sevier Thrust of central Nevada and western Utah, USA.
For further information please refer to our website at: www.usoil.us