HENDERSON, NEVADA--(Marketwire - 03/25/11) - Fortune Oil & Gas, Inc. (PINK SHEETS:FOGC - News) (http://www.fortuneoilandgascorp.com) is pleased to announce that the merger with Alta Mining Inc. has been finalized.
Following certain administrative hurdles, Alta Mining has been successfully vended into Fortune Oil and Gas, Inc. Alta Mining is a junior mining company dedicated to performing cost effective and highly competitive exploring and developing operations on economically viable mineral deposits situated in geopolitically stable, well known and historically proven mining areas.
Alta Mining is deeply committed to providing a constant increase of value for their shareholders and are confident that their market position, coupled with their unique business perspective, will ensure the success of the company's plan to acquire and develop precious metals properties and successfully achieve their long-term goals.
The company management stated, "FOGC is back on board with a great business opportunity. Alta offers a great connection in the mining industry and we expect the company to bring exiting mining exploration opportunities. Following the merger, the company plans to start optioning exploration properties with valid mining potential. The company expects to have a minimum of one property optioned for exploration before the 2011 exploration season starts in May. We will continue looking at other viable mining businesses for mergers, but for now, we are extremely pleased with Alta and its professionals, and expect to achieve some results in mining exploration."
In other company updates, the company shortly intends to name a new CEO with mining expertise, a complete new board member roster and will shortly begin to update the OTC Markets with filings company financials and other relevant data.
More updates will follow shortly and frequently.
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