PHOENIX, AZ, March 7 /PRNewswire-FirstCall/ -- Golden Apple Oil and Gas, Inc. (OTC Pink Sheets: GAPJ.pk - News) is pleased to announce it has completed the initial private placement with Franklin Ross Securities of New Jersey. The terms of the deal provide for Franklin Ross to purchase 181,818 shares of Golden Apple Oil and Gas, Inc. restricted stock priced at $1.10 per share. The company is currently negotiating with several investor groups for the next phase of financing. Headquartered in Phoenix, Arizona, Golden Apple is an independent oil and gas producer with a focus on North and South American properties. The Company applies advanced technologies to systematically explore and develop its oil and natural gas opportunities. Golden Apple focuses its activities where technology can be used effectively to maximize returns on invested capital by reducing drilling risk and enhancing its ability to cost-effectively grow reserves and production volumes. Golden Apple Oil and Gas, Inc has opened a Canadian office in Toronto, Ontario to facilitate the management of its Canadian operations. All correspondence and communication will continue to be serviced by the company's head office staff in Phoenix Arizona. This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release. For more information on Golden Apple Oil and Gas, Inc. including up to date news and market information, please http://www.goldenappleoil.com/ DATASOURCE: Golden Apple Oil and Gas, Inc. CONTACT: Jay H. Budd, President and CEO, ; Investor Relations, (480) 898-4199,

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