True North Energy Expands Opportunity Pool
PR Newswire
SPRING, Texas, June 10, 2014
SPRING, Texas , June 10, 2014 /PRNewswire/ -- True North Energy Corp. ("True North") (OTC Pink: TNEN) is pleased to announce that it plans to segregate its existing overriding royalty interests (ORRIs) in the Cook Inlet and Beaufort Sea areas of Alaska and northwest Colorado , into a new subsidiary and plans to pursue additional acquisitions, funding permitting. In addition, the company has established a wholly-owned Hong Kong subsidiary, Marco Capital Limited. Headquartered in Hong Kong , Marco Capital Limited is planned to explore emerging market, including China , opportunities in various industries. CEO Gilbert Steedley states, "This investment diversification is in the best interest of the shareholders as it exposes the company to a wide range of opportunities. We feel very confident these strategic moves and continuation of our business plan, funding permitting, will allow us to increase shareholder value."
About True North Energy Corporation
Traditionally, True North Energy Corporation has been engaged in the identification, acquisition and development of oil and gas properties and holds overriding royalty interests on properties located in Alaska and Colorado . True North is headquartered in Spring, Texas with a wholly-owned Hong Kong subsidiary. For further information about True North, please visit www.tnencorp.com .
This press release may contain forward-looking statements, including information about management's view of True North's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release, other than those of historical fact, about an action, event or development, are forward-looking statements. Forward-looking statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, general economic risks and uncertainties, and other risks. The company takes no obligation to update or correct forward-looking statements, except as otherwise provided by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the company.
SOURCE True North Energy Corp.
