Capital Increase

On November 17, 2011 EuroGas Inc. has transferred by notarial deed all its assets to its new wholly-owned Zurich based Swiss subsidiary ZB Capital AG.In the same notarial transaction the share capital of ZB Capital AG was increased by Swiss Francs 144.35 million after an extensive audit and value determination of the assets by an international Certified Public Accounting firm (CPA) and receipt of a Certification of the value determination of the assets by an independent External Audit Company.

This notarial transaction was the first official and necessary step to restructure the EuroGas Group. Once the capital increase has been published in the Zurich Registry of Companies the next step of the restructure process will be implemented immediately, which - once completed - will allow the issuance of new tradable shares to the current EuroGas Inc. shareholders.