Cardinal Energy Group, Inc. (OTCPK:CEGX) (‘Cardinal’) agreed to acquire certain assets of EOI Eagle Operating Inc. (‘Eagle’) on March 17, 2017. Cardinal will issue 1 million shares of its Series B preferred stock to Eagle upon the execution of the final definitive agreement. The Series B preferred stock can convert into 10% of the issued and outstanding common stock of Cardinal. The transaction will be funded through the placement of 4.6 million Series D Preferred stock. On April 18, 2017, a definitive agreement was signed pursuant to which Cardinal will issue as consideration for the purchase an additional 1 million shares of the Series B Preferred stock and a note for $25,000. On April 20, 2018, Cardinal completed the acquisition. Paul Carlisle, President and owner of Eagle, will be appointed by Cardinal Board of Directors to the position of President and Chief Operating Officer of Cardinal.