Charlotte Resources has entered into an agreement to acquire all of the shares of Tanglewood Energy Inc., a company with oil and gas property in Montana, USA. The Company also announced that it is proceeding with a brokered private placement offering of subscription receipts at a price of $0.35 per receipt for gross proceeds of not less than $11.5 million. For additional detail, please see the Company’s press release of November 11, 2011.