Effective January 11, 2016, Eos Petro, Inc. entered into an employment agreement with Alan D. Gaines whereby Mr. Gaines is appointed as the Company's Chief Executive Officer (CEO), reporting to the Board of Directors. In connection with the appointment of Mr. Gaines, Martin B. Oring will step down from the position of Chief Executive Officer as of the Effective Date, but will continue serving as a member of the Board of Directors. Mr. Gaines, age 60, has over 30 years of experience as an energy investment banker and advisor, having participated in the raising of debt and equity totaling well over $100 billion.

In addition, Mr. Gains has extensive experience as an entrepreneur and operator in the oil and gas industry. In September 2014, Mr. Gaines formed ALG Corp. (and a predecessor company, Direct Crude, LLC in 2011), and presently serves as Chairman of the Board of Directors and CEO.