Eagle Oil and InPlays Sports outline reverse merger plans
A reverse merger is under discussion between InPlays Sports and Eagle Oil.
Eagle Oil and InPlays Sports are currently in business negotiations over plans to carry out a reverse merger, a process that could have benefits for shareholders in both organisations.
Consisting of the acquisition of a public company by a private company so the latter firm can avoid the lengthy process of deprivatising its stock, the deal is expected to be thrashed out over the next few weeks.
Andrew Barwicki, InPlays founder and chief executive officer, said the move will "increase shareholder value for Eagle Oil shareholders and provide InPlays shareholders with a public market for our stock".
InPlays is an online sports media firm that provides various American educational institutions with news.
Mr Barwicki added that the company's success is predicated on its ability to reach students "in an uninterrupted manner".
Eagle Oil Company first came into existence as an oil exploration firm in 2009, having been founded in 2004 as a real estate vendor.
Posted by David Gleck
Source: Eagle Oil press release, July 5th