XR Energy of Texas Inc. signed a definitive acquisition agreement to acquire XR Energy Inc. in a reverse merger transaction, on February 28, 2014. The agreement calls for XR Energy to deliver to XR Energy of Texas 30 million newly issued shares in the name of XRT Shareholders in exchange for 100% of the XR Energy of Texas shares. Concurrently, the XR Energy controlling shareholder will deliver and assign 19 million shares registered in his name to XR Energy for cancellation. Under the terms of the deal, on or prior to closing, Tara Muratone shall resign from Board of Directors of XR Energy Inc. and appointment of one new Director to the Board of XR Energy Inc. becomes effective. Subsequent to closing, Anthony Muratone shall resign and appointment of one new Director to the Board of XR Energy Inc. becomes effective. On or prior to closing, current officers shall resign and new President, Chief Executive Office, Chief Financial Officer and Secretary, Treasurer should be appointed to XR Energy Inc. The deal is subject to customary regulatory approval. As on April 24, 2014, the acquisition is expected to close by end of April 2014. Company has now appointed the new board and the executive management team is now in place to move this project forward.


XR Energy of Texas Inc. completed the acquisiton of XR Energy Inc. in a reverse merger transaction on June 6, 2014.