MANSFIELD-MARTIN EXPLORATION MINING, INC. EuroGas AG signed a memorandum of understanding to acquire Mansfield-Martin Exploration Mining, Inc. (OTCPK:MCPI) on April 16, 2019. In order to acquire majority of EuroGas AG from ZB Capital AG, Mansfield-Martin will increase its authorized capital to permit the issuance of the necessary shares it will issue to ZB Capital AG in the transaction. The share exchange ratio and timing of the merger transaction will be dependent on the parties' completion of mutual investigations and consultations between US and Swiss audit teams and other financial professionals, and will be fully disclosed when the material definitive agreement is finalized.
Mansfield-Martin Exploration Mining, Inc., EuroGas AG and ZB Capital AG expect to seek OTCQB qualification immediately, along with qualification for Canadian and European exchanges to reflect the value and international character of their business and facilitate trading in the shares for European institutional and retail investors. EuroGas AG entered into a Securities Purchase and Exchange Agreement to acquire Mansfield-Martin Exploration Mining, Inc. on December 4, 2019. Mansfield-Martin will acquire 51% of ZB Capital, in exchange for the issuance of shares sufficient to provide ZB Capital's shareholders with 62% ownership of Mansfield-Martin.
