VANCOUVER, B.C., June 05, 2025 (GLOBE NEWSWIRE) -- BGX - Black Gold Exploration Corp. (the "Company" or "BGX") (CSE: BGX) (OTCQB: BGXCF) (FRA: BLGX) announces an update to disclosure.
Disclosure Update:
The Company wishes to clarify its news release dated June 4, 2025, announcing that it has entered into production to add that BGX has entered into production through its 10% working interest in the Fritz 2-30 well located in Clay County, Indiana. As previously announced in the Company's January 31, 2025 news release, the Company paid a total of USD $145,987 to obtain the 10% working interest in a joint venture with LGX Energy Corp., that was used toward exploration, drilling, and testing the results of the Fritz 2-30 well.
Marketing Disclosure Update:
Through the Company's engagement with CHero Enterprises Corp., which was disclosed in the Company's September 23, 2024 news release, the Company has its news releases disseminated on the Aktiencheck platform as a service. The Company sent the Company's June 4, 2025 news release to Aktiencheck directly for dissemination on their platform, however, the following unauthorized and overly promotional disclosures were made to its subscriber base:
1."Enormous upside"
2."Enormous oil potential"
3."Start its own oil production"
None of the above was then or is now accurate nor were these items authorized or reviewed by the Company in order to ensure compliance with securities laws. At the request of the CSE and BCSC, the promotion materials published by Aktiencheck de AG has been requested to be removed.
Finally, the Company further notes that it has no engagement with SmallCapCanada and was made aware of material that they had disseminated. SmallCapCanada issued a news release with the title "BreakingNews, Up 12%, $ Jaw-Dropping Production, This is rare" and omitted that the Company owns a 10% working interest in the Fritz 2-30 through its joint venture with LGX Energy Corp. ("LGX"). The statements made in the SmallCapCanada June 4, 2025, news release were inaccurate and were not authorized or reviewed by the Company in order to ensure compliance with securities laws.
The Company has undertaken to review and approve all promotional materials going forward.
On behalf of the Company,
Francisco Gulisano
236-266-5174
CEO
