American Oil & Gas Inc. (OTCPK:AOIX) entered into a letter of intent to acquire NFTUS Corp. for $20 million on December 20, 2021. The business combination may be effected by a share exchange whereby American Oil & Gas Inc. will acquire all of the issued and outstanding shares of NFTUS from its shareholders in exchange for its 10 million restricted common shares, on a one-for-one basis, on a pre-split basis. In addition, American Oil has agreed to undertake a forward stock split of its issued and outstanding shares on a six for one basis. Following completion, NFTUS Corp. will become a wholly-owned subsidiary of American Oil. In anticipation of the proposed acquisition, American Oil will be commencing the process for change of its name to “NFiniTi Inc. The closing of the business combination is subject to the fulfillment of certain conditions precedent; including but not limited to American Oil’s and NFTUS Corp.’s satisfactory completion of its due diligence; execution of the Definitive Agreement and the ancillary agreements; American Oil’s filing of a Form 8-K disclosing the letter of intent and the parties’ intention to consummate the acquisition; approval of American Oil’s and NFTUS Corp.’s Board of Directors and the shareholders of NFTUS; the resignation of Michael Noble from all positions with the American Oil and the board of directors of American Oil and the appointment of Peter Lachapelle, Co-Founder and Chief Executive Officer of NFTUS as American Oil’s President and sole director, effective simultaneously upon the closing of the acquisition; and the receipt of any regulatory approvals and third-party consents.