Capital Oil & Gas, Inc. Reaches an Agreement to Acquire a Major Petroleum Transporteradmin
Capital Oil & Gas, Inc. announces that at the close of business yesterday it has agreed to acquire a Ft. Lauderdale based petroleum/diesel transportation company with clients throughout the State of Florida.
The petroleum/diesel transportation company that will be acquired also has a branch/depot in Tampa, Florida and delivers to major clients such as BJ Stores and Major Retail Service Stations; the acquisition includes all existing clients, a fleet of ten (10) tanker trucks and a transfer station.
This acquisition will be financed with a combination of corporate funds on hand, seller financing and a block of restricted stock (restricted for two years). Further details regarding this transaction (such as financials) will be forth coming as they develop.
Ariel Rodriguez President, said, “I am extremely excited with this acquisition as it adds another dimension to our company. Capital Oil & Gas will continue to pursue any and all acquisitions that will benefit the company and its shareholders as we strive towards our stated growth plans.”
Capital Oil & Gas operates retail filling stations/convenience stores throughout the State of Florida; the company is aggressively seeking additional acquisitions that can meet or exceed its current growth plan.