Southern Empire Resources Corp. announced that it has closed its previously announced Capital Pool Company Qualifying Transaction by acquiring a 75% interest in the Oro Cruz Gold Project located in California, an 85% interest in the Eastgate Gold Project located in Nevada, USA and a 4.93% undiluted equity interest in Bullfrog Gold Corp. ("Bullfrog"), an exploration stage company listed on the Canadian Securities Exchange and OTC Markets, collectively, the "Gold Assets".

As of the closing of the Qualifying Transaction, the existing board of directors and officers have resigned, except for James Hutton. The company's new board of directors will be Ronald Netolitzky, who has been appointed to act as Chairman, James Hutton, Bryan Slusarchuk, James Currie, Latika Prasad and Dale Wallster, who will also serve as Chief Executive Officer. Andrew Davidson will serve as Chief Financial Officer and Secretary and David Tupper as Vice President - Exploration.