Mondial Ventures, Inc. entered into a Letter of Intent to acquire MRGB3, LLC on September 10, 2014. In a related transaction, Mondial Ventures, Inc. also announced the spinoff of its majority owned subsidiary Boomerang Oil, Inc. and its wholly owned subsidiary 1913564 Ontario, Inc. Under the terms of agreement, Mondial Ventures, Inc. will issue Series C Preferred Stock as consideration. The transaction is subject to conditions including Mondial shall execute or have executed a Chief Executive Officer agreement with Michael Gillespie, principal owner of MRGB3, potential name change for the Registrant, approvals of Board of Directors of Mondial Ventures, Inc. and MRGB3, LLC, new Board of Director appointments including Milan Saha, Esq., Michael Gillespie in addition to Dennis Alexander staying on with Joanne Sylvanus as CFO with certain terms. The transaction is expected to close on September 30, 2014.

Mondial Ventures, Inc. cancelled the acquisition of MRGB3, LLC in November 2014.