Business
American Green and Delta International Oil and Gas Finalize Nipton Deal
American Green and Delta International Oil and Gas Finalize Nipton Deal.
About this update from American Green, Inc.
[{"type":"text","content":"\n\n DLTZ becomes a subsidiary of ERBB \n PHOENIX, AZ and NIPTON, CA, April 03, 2018 (GLOBE NEWSWIRE) -- American Green, Inc. (ERBB:OTC) is pleased to announce that it has completed its acquisition of Delta International Oil and Gas (OTCQB:DLTZ) through the sale of its Nipton assets and, as a result, American Green has gained control of Delta. Delta will be operated as a subsidiary of American Green and American Green will consolidate Delta’s financials with its own. As a fully reporting public company, Delta can rapidly qualify for exchange listing, giving it access to far cheaper capital while vastly increasing shareholder value for American Green. David Gwyther, American Green’s Chairman, stated, “Contrary to a few erroneous commentators, American Green did not dispose of Nipton. Rather, our company utilized the sale of Nipton in order to acquire Delta and grow shareholder value.” Mr. Gwyther continued, “Now, with Delta operating as a subsidiary of American Green, both companies can work in tandem, growing and expanding not only our opportunities in Nipton, but will enable us to develop whatever new opportunities present themselves.” “We plan for Delta to become one of, if not the largest cannabis-friendly real estate investment companies, but as such, it cannot yet have its hand directly in cannabis operations. American Green will operate where Delta cannot,” he concluded. In further news: Concurrent with the closing, Santiago Peralta resigned as CEO and as a member of the Board of Directors of Delta. Scott Stoegbauer will continue to act as interim president until the board officially appoints him as its new CEO. Malcolm Sherman will remain as chairman and together, they will lead Delta into the future. American Green’s Chairman, David Gwyther, further stated, “Although Santiago Peralta will be leaving Delta to continue his successful career in the oil and gas sector, American Green will be retaining Mr. Scott Stoegbauer and Mr. Malcolm Sherman. Malcolm and Scott bring an enormous amount of talent to Delta.” Mr. Malcolm W. Sherman, a former director of the Company, was appointed to fill a vacancy on our board of directors on July 11, 2008. He was appointed Executive Vice President on July 28, 2008, and was appointed President and Chief Executive Officer on No...