LRG Capital Group is a global merchant bank managed by Larry Goldfarb that specializes in investments and providing financial advisory services to small-to-mid size capitalization publicly traded and private companies.

Press Release

UPDA Completes Acquisition of Heartland Oil and Gas

On April 20, 2007, Universal Property Development and Acquisition Corporation closed on its acquisition of control of Heartland Oil and Gas Corporation, the owner of approximately One Million acres of coal bed methane and other mineral leases in the state of Kansas. In the transaction, UPDA purchased 52% of the total outstanding common shares of Heartland, for a total purchase price of $1,000,000.00. In addition, UPDA acquired outstanding Heartland promissory notes, held by SDS Capital Group SPC, Ltd. and Baystar Capital II, L.P., with an aggregate principal amount of $4,756,000.00 for $1,500,000.00 cash and 26,260,504 restricted shares of UPDA Common Stock. LRG Capital Group, LLC is the investment manager for the Baystar Capital II fund.

Source: Heartland Oil and Gas Corporation

 

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