MedClair AB completed the acquisition of US Energy Group AB (XSAT:USE B) from Anders Lagerberg and other shareholders in a reverse merger transaction.

MedClair AB agreed to acquire US Energy Group AB (XSAT:USE B) from Anders Lagerberg and others in a reverse merger transaction on May 26, 2016. Under the terms of the transaction, US Energy Group will issue 560 million shares and will change its name to MedClair International AB, upon completion. Currently US Energy Group, has 232 million shares outstanding and upon completion of the acquisition and a reverse stock split, US Energy will have 79.7 million shares outstanding. MedClair AB completed the acquisition of US Energy Group AB (XSAT:USE B) in a reverse merger transaction on September 5, 2016. US Energy Group AB will start trading MedClair International AB from September 5, 2016.