Core Resource Management, Inc. (Core) and Nitro Petroleum, Inc. (Nitro), together with Core Resource Management Holding Co. (CRMI-H), a wholly-owned subsidiary of Core, have entered into an Agreement and Plan of Merger (the "Merger Agreement") (dated August 28, 2014), pursuant to which, subject to the satisfaction or waiver of certain conditions, CRMI-H will merge with and into Nitro (the "Merger"), with Nitro becoming a wholly-owned subsidiary of Core.

Upon the consummation of the Merger, based on the number of shares of Nitro common stock outstanding on August 28, 2014, each outstanding share of Nitro common stock (other than shares held by those Nitro stockholders properly exercising dissenters' rights) would be converted into .0952 shares of CRMI common stock (ratio 10.5 to 1), and that number of shares will depend on the number outstanding with the division ratio as properly accounted.

Tags: Core Resource Management, Nitro Petroleum