The Company Provides Updates On Acquisition, Investment Bank Engagement, Corporate Structure, And Uplist Plans.
HOUSTON /March 24, 2017/ —(Website Announcement) Turner Valley Oil and Gas, Inc. (the “Company”) (“Turner”) (OTC:TVOG), pending name change to Turner Venture Group, Inc., would like to provide shareholders an update on what is happening in regards to the previous press announcement concerning the acquisition of a Bitumen Shipping Company, and also what shareholders can look forward to in the next few days and weeks.
In regards to the Bitumen Shipping assets being acquired in the press release dated March 15, 2017, excellent progress has been made in the closing of the deal and the company expects to announce the completion of key milestones over the next 2-4 weeks. This transaction will bring assets valued at $28 million, and incoming cash flow positive, annualized revenues of over $14 million, into Turner. In addition, the company will be releasing more details about the new shipping company, the growth potential, acquisitions, integration into the infrastructure supply chain, and the new company website in the coming weeks. The Company will be providing ongoing updates in regards to this as there will be lots of exciting events that transpire with relation to this new business.
The full service investment bank that is brokering the deal is a respected and very successful investment banking firm that has an excellent history in taking numerous OTC companies to the NYSE and Nasdaq, which is Turner’s goal as well. Turner is advancing the audit process in real-time in order to meet the qualifications to first uplist to the OTCQB. The successful engagement of this firm is expected to be announced soon, and the company will issue a press release promptly giving details on the company name, website, history, and how it plans to work with Turner on the coming M&A (mergers and acquisitions).
Finally, Turner would like to stress that there has been no dilution of the outstanding share count in the past weeks, and the OS currently stands at 92,943,470 , which is the same as it has been for many months. New restricted shares issued over the last year were related primarily to management private placements and compensation. There is no newly issued convertible debt on Turner’s balance sheet. The Company has negotiated legacy debt be converted to preferred stock and has already began this process. It is critical shareholders know the Company has no plans to dilute any free trading shares into the float to raise capital at any time in the near future.
CEO Steve Helm stated, “while Turner is concerned about the fall in the share price this week, it can assure investors and potential investors alike that Turner will be doing everything in its power in the coming days, weeks, and months to maximize shareholder value.”
About Turner Valley Oil and Gas, Inc.
Turner Valley Oil and Gas, Inc. (pending name change to Turner Venture Group, Inc.) (OTC:TVOG) is a business holding company, with a historical focus on energy related holdings. The Company’s acquisition model is focused on finding and evaluating profitable small to mid-sized businesses as acquisition candidates where cash flow can be improved through its buy, build & bolt-on model within the real assets, energy, infrastructure, hemp, enterprise technology, food and beverage, and manufacturing segments.
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.
OTC Markets Profile: http://www.otcmarkets.com/stock/TVOG/profile
Q & A Page on Company Website: http://turnerventuregroup.com/qa/
Company LinkedIn Page: https://www.linkedin.com/company/turner-venture-group
CEO Steve Helm LinkedIn Page: https://www.linkedin.com/in/SteveHelmTVOG
Company Facebook: https://www.facebook.com/TurnerVentureGroup/
Company Twitter: https://twitter.com/TurnerVenture
Full Disclaimer here: http://turnerventuregroup.com/disclaimer/
Steve Helm, CEO
Turner Valley Oil And Gas, Inc. (pending name change to Turner Venture Group, Inc.)
Address: 3270 Sul Ross, Houston, TX 77098
Matt Kochendorfer, IR Director