There were 607 press releases posted in the last 24 hours and 168,859 in the last 365 days.

Barrel Energy reiterates Senior Management Share Ownership

/EIN News/ -- LAS VEGAS, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Barrel Energy Inc. (OTCQB: BRLL) (the “Company” or “Barrel”) announces share positions held by members of its senior management team, Mr. Harp Sangha and Mr. Craig Alford.

The described transactions have been previously documented and reported in the company’s SEC filings but are required to be further disclosed to assist in the revocation of a cease-trade order by the British Columba Securities Commission under Canadian National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

The three events that have triggered a report under 62-103 for Barrel Energy Inc, of Suite 200, 8275 S. Eastern Ave., Las Vegas, NV, USA 89123 are described as follows;

Mr. Harp Sangha, of 45-6671 121 Street, Surrey B.C. V3W 1T9, a newly appointed Director and Chairman of Barrel Energy, made an investment into the Company by the acquisition of 10 million (10,000,000) new common shares of the company on November 5th, 2018 at a price of $0.001 USD per share for a total cost to Mr. Sangha of $10,000 USD. On November 5th, 2018 the US to Canadian dollar exchange rate was 1.31, thus the per share amount paid was $0.00131 Canadian and the total paid equalled $13,100 Canadian dollars.

Upon acquisition, the Company’s capitalization increased at a commensurate rate to the amount of the new shares and Mr. Sangha’s ownership of Common Shares represented ownership of approximately 26.68% of the then issued and outstanding Common Shares of Barrel. Previous to this transaction, Mr. Sangha held no shares in the Company.

Furthermore, on November 12th, 2018, Mr. Harp Sangha disposed of 1,000,000 Common Shares at $0.002 USD per share. On November 12th, 2018 the US to Canadian dollar exchange rate was 1.324, thus the per share amount paid was $0.0026 Canadian and the total received equalled $2,640 Canadian dollars.

After this share disposition, that was made to reduce the Chairman’s over all holdings in the Company, Mr. Sangha held a total ownership of 9,000,000 shares which represented ownership of approximately 24% of the then issued and outstanding Common Shares. There was no effect on the capitalization of the company from this transaction.

Mr. Craig Alford, of 9 Ruttan St., Thunder Bay, Ontario, P7A, a newly appointed Director and President of Barrel Energy, made an investment into the Company by the acquisition of 4 million (4,000,000) new common shares of the company on November 5th, 2018 at a price of $0.001 USD per share for a total cost to Mr. Alford of $4,000 USD. On November 5th, 2018 the US to Canadian dollar exchange rate was 1.31, thus the per share amount paid was $0.00131 Canadian and the total paid equalled $5,240 Canadian dollars.

Upon acquisition, the Company’s capitalization increased at a commensurate rate to the amount of the new shares and Mr. Alford’s ownership of Common Shares represented ownership of approximately 10.67% of the then issued and outstanding Common Shares of Barrel. Previous to this transaction, Mr. Alford held no shares in the Company.

Since the transactions of November 2018 Mr. Alford has since been appointed CEO of the company.

Both Mr. Sangha and Mr. Alford have submitted and certified this information to be accurate for compliance with Canadian National Instrument 62-103.

Copies of the relevant 62-103 reports submitted can be obtained from information published on Barrel Energy Inc. www.Sedar.com, or to obtain a copy of the report contact Harp Sangha, 1-702-595-2247, 200-8275 S. Eastern Ave., Las Vegas, NV 89123.

About Barrel: Barrel Energy Inc., is focused on a portfolio of production opportunities throughout North America.

Neither the OTCPK nor any other Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-Looking Statements

This news release may contain forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include but are not limited to the exploration earn-in agreement and any reference to work commitments. These are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labor, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

Contact Info for Barrel Energy:

Harp Sangha
1-702-595-2247

Distribution channels: Media, Advertising & PR


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.