HOUSTON, TX--(Marketwired - July 24, 2015) - America Resources Exploration (OTCQB: AREN) ("America Resources" or "the Company") today announced that it has received the first tranche of the $500,000 financing agreement recently signed with an institutional investor, which will provide the Company with additional working capital as it continues to evaluate acquisition targets to build out its production portfolio.
This first tranche will provide America Resources Exploration with $150,000 and in return the company will issue 1,000,000 shares of AREN at a price of $0.15. At the investor's discretion, a second tranche would require the Company to issue an additional 750,000 shares at a price of $0.20 and a third tranche of 800,000 shares at $0.25 which, if exercised, would net the Company an additional $350,000.
"We have very carefully selected our partner in this financing," stated Huang Yu, America Resources Chief Executive Officer. "They believe in our value proposition to shareholders and are investing in the future success of our operations. We expect the additional tranches of the financing should reflect our success as we achieve milestones and execute on our business plan."
About American Resources Exploration, Inc.
America Resources Exploration, Inc. is an oil and gas exploration and production company focused on the acquisition of properties in areas with significant oil reserves and drilling potential. The Company's growth strategy includes the acquisition of oil fields from distressed third parties at a substantial discount to value, and development of fields whose potential has not been fully maximized. For more information investors can visit www.america-resources.com
Forward-Looking Statements
Forward-Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and America Resources Exploration, Inc. undertakes no obligation to update such statements.