TechnoInvest Oil and Gas Ltd. made a tender offer to acquire NuTech Energy Resources, Inc. (OTCPK: NERG) on May 10, 2016. Under the terms of the transaction, the shares will be acquired for $0.025 per share. As of May 12, 2016, TechnoInvest will send a detailed proposal with agreed upon terms early next week. TechnoInvest Oil and Gas Ltd. cancelled the acquisition of NuTech Energy Resources, Inc. (OTCPK: NERG) on May 10, 2017.