Business
Royal Energy Resources Announces Recent Material Transactions
Royal Energy Resources Announces Recent Material Transactions.
About this update from Royal Energy Resources Inc
[{"type":"text","content":"\n\n\n\nRoyal Energy Resources Announces Recent Material Transactions\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nRoyal Energy Resources Announces Recent Material Transactions\nPR Newswire\nCHARLESTON, S.C., Aug. 5, 2015\n\n\n\nCHARLESTON, S.C., Aug. 5, 2015 /PRNewswire/ -- Royal Energy Resources, Inc. (OTC Markets: ROYE) today announced recent material transactions since restructuring earlier this year.     \n\nOn March 6, 2015, the Company underwent a change of control, whereby William Tuorto and his investment firm E-Starts Money Co. acquired an aggregate of 7,998,876 shares of Common Stock and 51,000 shares of Series A Preferred Stock. As a result, Mr. Tuorto became the beneficial owner of 92.3% of the outstanding Common Stock and 51% of the Preferred Stock. In connection with the transactions, Mr. Tuorto assumed control of the Board of Directors as its sole member and Chairman, and was appointed to fill all interim executive positions then vacated, as Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer of the Company.  As a result, there is very limited stock available to the public, and the Company cautions existing and prospective shareholders and investors that its stock price may not reflect the Company's true valuation at this time.  \n\nSubsequently, and in conjunction with a series of related-party transactions described below, Mr. Tuorto made the following executive appointments: Ronald Phillips, as President and interim Secretary; Douglas Holsted, as Chief Financial Officer; and Ian Ganzer, as Chief Operating Officer. \n\nSince acquiring control of the Company and assembling an initial executive team, Mr. Tuorto has repositioned the Company to focus on the acquisition of North American natural resource assets, including coal, oil, gas and renewables, seeking to acquire high-quality assets at distressed pricing in today's fragmented energy markets. The Company's initial footprint is in the coal sector, entering into the following transactions:\n\nOn April 17, 2015, the Company completed the acquisi...