Dallas, Texas, Nov. 06, 2018 (GLOBE NEWSWIRE) — Cardinal Energy Group, Inc (“Cardinal Energy” or “the Company”) (OTCQB: CEGX) recently became aware of a press release (the “Monroe Press Release”) issued by a James Monroe Capital Corporation (“Monroe Corporation”) that claims that the Company entered into a Memorandum of Understanding to merge the companies. The Company emphatically denies any claim that a Memorandum of Understanding has been entered into between Monroe Corporation and the Company. In fact, no authorized person acting on behalf of the Company has ever discussed or signed any Memorandum of Understanding with the Monroe Corporation.
The Company is demanding an immediate retraction by Monroe Corporation of their news release of November 6, 2018 stating they are initiating a merger between the companies.
The Company does not know why the Monroe Release was disseminated, whether by accident (perhaps the Monroe Corporation used the wrong name) or for some other purpose. The Company intends to forward the Monroe Release to the appropriate regulators, including the Securities and Exchange Commission.