November 21, 2016 – Turner Valley Oil & Gas, Inc. pending name change to Turner Venture Group, Inc. (OTC:TVOG) (“Turner,” “TVOG” or “the Company”) wishes to update shareholders as to recent events and to prepare them for a number of exciting acquisition activities that should transform Turner from a relatively slow growing public company to an up and coming, revenue producing, profitable company in the business holding market. Turner is currently in discussions with a few companies regarding acquisitions that should transform Turner into a very fast growing holding company that investors will be proud to be a part of and to grow with.
TVOG management is well aware of the investor anxiety and anticipation regarding the events talked about for the past several months. Due to circumstances beyond the company’s control, the company has been waiting for various regulatory and due diligence activities to be completed before moving on to the next phase of acquisition activities. Turner, and its core acquisition partner, have had to wait to announce their LOI, but will be making that announcement in the very near future. This core acquisition should take Turner on its path to profitability and then onto a higher exchange. Those regulatory issues have now been largely completed and the company is ready to move forward with new announcements and further acquisition activities that will lead to the closing of the initial acquisition and others as well . Hopefully, we look forward to show our investor base that the reward for their patience will have been worth the wait.
Additionally, Turner has also received an Engagement Letter from a well-respected capital markets group this past week with proposed terms to facilitate a significant private placement raise. This will be conducted along with the closing of this initial acquisition in the Q1 2017 time frame. This capital markets group and broker/dealer has committed to raising capital for the company to facilitate an aggressive growth and acquisition strategy. This group sees the long-term potential in what Turner is doing and has latched onto the opportunity to help build a credible, and scalable company. We have been fortunate to engage such a well-respected capital partner to help secure and accelerate Turner’s future growth.
The receipt of the Engagement Letter from this capital markets group has also set in motion the release of budgets to quickly complete the full audits of both the TVOG public company as well as the private companies being acquired so that TVOG can become a fully reporting OTCQB company as soon as possible..
Also, in the coming days, weeks, and months, Turner will continue to engage and entertain new acquisition discussions with other prospective acquisition targets that are complementary to Turner business holding company strategy to grow quickly through acquisitions.
The company has also lined up a new core management team that will take over the executive management duties once the initial acquisition is completed. While we are not at liberty at this time to divulge names and pedigrees of those individuals, we know that they will be well received by the investor community as they have long and excellent resumes in the business holding company industry with highly successful public and private companies.
Finally, because we understand that a company’s share structure and stock is one of its most precious commodities, we have also secured the help of an experienced market maker (MM) to help with the stock. We understand that the lack of volume, liquidity and available float has been a hindrance for investors in buying and selling TVOG stock. This market maker has committed to provide the support and liquidity that investors need to feel confident and secure when trading the stock, and we fully expect that trading volume and activity will begin to slowly and methodically increase as our PR and IR activities increase in the coming weeks and months.
We want to let our investor know that we highly value you. We read our investor message boards and we see some of the frustrations that are expressed in terms of things moving slower than any of us would like. Unfortunately, things take time. Regulatory agencies take whatever time they take to do their work and one really can’t speed that up much. But, we have continuously kept pressure on pushing these acquisition activities forward at the best pace we can. Now that a few important regulatory hurdles have been traversed, we expect the audits will happen quickly and we can get this initial acquisition closed in early 2017, raise capital, and begin accelerating the company’s growth in 2017 and beyond.
We here at Turner look forward to sharing this journey with you. We will be starting a concerted PR and investor awareness campaign that will not only give details about what was talked about in this update, but much, much more as well. We are very positive and confident about where thing are headed with the company and for our investors and are working diligently to finish up 2016 in a very positive way, and look forward to 2017 being a dynamic and company changing year.
Thank You and Best Regards,
Steve Helm, CEO
Turner Valley Oil & Gas, Inc.
(pending name change to Turner Venture Group, Inc.)