Virtus Oil and Gas Releases Financials With $14 Million in Assets
PRESS RELEASE GlobeNewswire
Apr. 19, 2018, 07:17 AM
LAS VEGAS, April 19, 2018 (GLOBE NEWSWIRE) -- Virtus Oil and Gas Corporation (VOIL), has placed on the Company's website all financials current through November 2017. The Company now is showing $14 million in assets, has also entered into tentative agreements to acquire additional assets, planning a workover on the Tin Cup Federal 4-26 and promoted Company SVP Brett A. Murray to EVP.
Company CEO, Dan Green, has worked tirelessly with Company's accountants to update the financial statements. As a result of the acquisition of Tin Cup Mesa and Squaw Canyon, the assets in the Company have gone from approximately $250,000 to $14,000,000. The previous management of Virtus had put events in place that brought it into non-compliance with the SEC.
Filing of a Form-10 with the SEC will bring Virtus from the Grey Sheets back to the OTC Bulletin Board. The Company expects this to be completed and approved by the SEC within 90 days of a completed audit. The Company expects the audit to commence in May 2018.
Dan Green, Chairman and CEO at Virtus, said: “Under my tenure at Virtus we have been successful in defending the Company from lawsuits, reducing liabilities and bringing the Company from a wildcat explorer to a production company.”
About Virtus Oil and Gas Corporation
Virtus Oil and Gas Corp. (VOIL) is a Nevada-based oil and gas production company currently holding producing assets in the States of Colorado and Utah. Virtus' strategy is to acquire proven and producing assets and/or develop oil and gas resources in proven, onshore basins in the United States.
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Virtus Oil and Gas Corporation
848 North Rainbow Blvd. #170
Las Vegas, NV 89107
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