Shale Corp. entered into an asset purchase agreement to acquire 37.5% stake in oil and gas interests for The J.B. Tubb Leasehold Estate from Mondial Ventures, Inc. (OTCPK:MNVN) for $1.3 million on January 21, 2014. The consideration includes payment of $0.045 million in cash and remaining to be paid by issuing 47 million shares of Shale Corp. As part of the consideration, Shale Corp. will also assume $0.4 million liabilities of oil and gas interests for The J.B. Tubb Leasehold Estate. In a related deal, Shale Corp. entered into a binding letter of intent to acquire Boomerang Oil Inc. in a reverse merger transaction on January 21, 2014. Shale Corp will appoint Dennis R Alexander as President and Chief Executive Officer before the closing of transaction and then Dennis R Alexander will appoint Chief Financial officer and other Board members. The transaction is subject to the shares of Shale Corp. being listed on Canadian National Stock Exchange and approved for trading. The transaction is unanimously approved by the Board of Directors of Mondial. The transaction is expected to be closed by January 31, 2014.

Shale Corp. completed the acquisition of 37.5% stake in oil and gas interests for The J.B. Tubb Leasehold Estate from Mondial Ventures, Inc. (OTCPK:MNVN) on February 7, 2014.