North American Oil and Gas Cancels Arrangement with Beaufort

VENTURA, Calif.--()--North American Oil and Gas Corp. (the “Company” or “NAMG”) (OTCBB: NAMG) has decided not to pursue the previously announced offer of finance from Beaufort Capital. As a condition to closing this facility, Beaufort required the Company to undertake an S1 Registration with the SEC. The registration process for this S1 began in April 2014, and, due to various factors, it remains outstanding. NAMG has considered various options of funding and decided to pursue the more traditional route of a 506 private placement (without registration rights). The company is in advanced discussions with various parties and will provide a further update to shareholders very shortly.

About North American Oil and Gas Corp.

North American Oil and Gas Corporation (“NAMG”) is a publicly-listed (OTCBB - NAMG) oil and gas Company. The Company is focused on the prolific San Joaquin Basin, onshore California, with existing foundation assets targeting exploration and exploitation of high impact oil and gas projects located near infrastructure and existing discoveries.

Forward-Looking Statement

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to the Company’s plans, outlook, business strategy and exploration and development of the Company’s properties. The words “may”, “would”, “could”, “should”, “will”, “likely”, “expect”, “anticipate”, “intend”, “estimate”, “plan”, “forecast”, “project” and “believe” or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: the ability to raise sufficient capital to fund exploration and development; the quantity of and future net revenues from the Company’s reserves; oil and natural gas production levels; commodity prices, foreign currency exchange rates and interest rates; capital expenditure programs and other expenditures; supply and demand for oil and natural gas; schedules and timing of certain projects and the Company’s strategy for growth; competitive conditions; the Company’s future operating and financial results; and treatment under governmental and other regulatory regimes and tax, environmental and other laws.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Contacts

North American Oil and Gas Corp.
Robert (Bob) Rosenthal, 805-643-0385
Chairman, President and CEO
Fax: 805-643-0211
Website: www.namoag.com

Release Summary

North American Oil and Gas cancels finance offer from Beaufort Capital. The Company will pursue the more traditional route of a 506 private placement.

Contacts

North American Oil and Gas Corp.
Robert (Bob) Rosenthal, 805-643-0385
Chairman, President and CEO
Fax: 805-643-0211
Website: www.namoag.com