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.