Kat Exploration Inc. Enters Into a Letter of Intent With Canco Energy Corporation
12 Junho 2012 - 10:45AM
Kat Exploration Inc. (KATX.PK) (www.katexploration.com) is pleased
to announce that it has entered into a LOI with Canco Energy
Corporation, a privately held oil and gas company.
Canco Energy Corp is a Delaware Corporation, involved in oil and
gas exploration and recovery, from mature onshore and offshore
Canadian and U.S. oil fields. The Company purchases mineral leases,
explores, develops, produces, and sells crude oil and natural
gas.
Canco Energy focuses on undervalued properties with high
recovery potential for oil and gas, and specializes in continuing
the operations of current producing oil and gas properties. It
brings together qualified investors seeking high yield income with
excellent tax benefits through lucrative investments in natural gas
and oil development. Canco owns and operates over 100 wells in USA
and holds about 20,000 acres in oil and gas leases.
Canco Energy Corp is an independent oil and natural gas
exploration and production company headquartered in Blaine,
Washington and with additional offices in White Rock, BC and
Lafayette, Louisiana.
The LOI stipulates, the purchase of Canco Energy Corporation
will be for a fixed amount of Kat shares and no cash. The
transaction will take place through escrow whereby the amount of
shares released will be determined by the amount of present and
future projects.
Ken Stead–CEO of Kat Exploration states, "For
some months now we have entertained offers for several high profile
acquisitions from both the mining and oil and gas industries and
decided Canco Energy Corporation to be the ideal choice for both
the company and shareholders alike. In discussions with
Manjit Singh Sahota, Founder and CEO of Canco
Energy, we always felt a synergy that was worth pursuing. As a
private company feeling that the timing was right to go public, Mr.
Sahota seized the opportunity presented creating a huge milestone
for both companies."
As further news becomes available with regards to this
transaction, shareholders and public will be informed.
This release includes forward-looking statements on our current
expectations and projections about future events. In some cases
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," and similar
expressions. These statements are based upon current beliefs,
expectations and assumptions and are subject to a number of risks
and uncertainties, many of which are difficult to predict and
include statements regarding our anticipated gold production, our
expected growth and our ability to compete within the African gold
mining industry. The forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth or implied by any forward-looking
statements. Important factors that could cause actual results to
differ materially from those reflected in our forward-looking
statements include, among others, a failure of our new mine to
produce the anticipated quantity of gold, our failure to obtain the
necessary funding to conduct our anticipated operations, our
ability to successfully integrate the new management and other
factors described in our report on Form 10-K for the year ended
December 31, 2011 and any other filings with the SEC. The
information in this release is provided only as of the date of this
release, and Synthetic Biologics undertakes no obligation to update
any forward-looking statements contained in this release on account
of new information, future events, or otherwise, except as required
by law.
CONTACT: Ken Stead
President & CEO
Kat Exploration Inc.
www.katexploration.com
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