Paradigm Oil and Gas Inc. to Pursue Acquisition of Oil Producing Assets

Paradigm Oil and Gas Inc. (OTCBB:PDGO) announced that its US$ 5,500,000 Securities Purchase Agreement will be used to acquire oil producing assets.

As quoted in the press release:

As reported in the Company’s recently filed 3rd Quarter financial statements, On October 24, 2011 the Company entered into a $5,500,000 Securities Purchase Agreement with an Investor. Under the terms of the agreement the Company issued to the Investor for purchase, a Convertible Debenture and an Equity Investment Agreement in exchange for a payment of $200,000.

Click here to read the Paradigm Oil and Gas Inc. (OTCBB:PDGO) press release.