Hmmm, more news today...is the sleeping giant wakening?
zagdad
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Announcing Draft Agreement Stage to Acquire Licensed Green Energy Project in Western Canada
Companies:Valor Energy Corp..Press Release Source: Valor Energy Corp. On Wednesday November 17, 2010, 6:00 am EST
SALMON ARM, BC--(Marketwire - 11/17/10) - Valor Energy Corp, (Pinksheets:VLEN - News), an energy development company, today announces...
Approximately 2 years ago, the Company signed a confidential Memorandum to receive information regarding the development of a smaller scale 'Green' energy project in Western Canada, with 3 years of research and engineering design history. Recently, this project was awarded license approval from the Province of British Columbia, allowing it to proceed with pre-construction preparations. After analysis, consultations with engineering professionals, and numerous discussions with project ownership, the Company would like to announce that a formal draft agreement stage has been reached with the intent to complete the acquisition of this project!
From our President, Mr. Sheridan Westgarde: "As events unfold I hope to provide much more detail, yet there is still much to be done... and pieces that need to fall in place. I am committed to the process because I believe we are uniquely positioned to capitalize on the huge and rapidly expanding demand for 'green' energy production!"
Westgarde continues... "I believe a potential acquisition like this is vital for stockholders, due to the following three factors;
1. The project, once constructed, has contractually secured long-term return on investment for prospective new finance partners in a large and rapidly expanding market.
2. Would be a project that we own, control and is expandable in scale to achieve real growth in shareholder value.
3. It provides a solid financial model, strong enough to pursue an agreement to resolve the current convertible debt obstacle. Since I am not able to execute conversions of the debt into stock, I believe that this project can support an alternative settlement to allow both parties to benefit and move on.
To see this project through is going to require significant technical and financial support, yet I am convinced by the merits of the project that, with determined effort, I can pull together the resources needed. Therefore, my short-term goal is to work with my Finance Chief, our Attorneys and Auditors to aggressively pursue;
a) Completion of an acquisition agreement.
b) A comprehensive corporate financing plan incorporating a debt settlement agreement.
c) Full reporting compliance with the SEC and BCSC.
My endeavor is to structure agreements that give us the best opportunity to succeed, providing the basis for a strong market in our stock and a clear path to sustainable, consistent... and environmentally responsible growth!"
Read more at our newly updated site: www.ValorEnergy.com.
About Valor Energy
Incorporated in Nevada, Valor Energy Corp (VLEN) is an early growth stage energy company that has managed working interests throughout the state of Texas and plans to expand to Canada. Valor Industries Ltd., (VIL), VLEN's wholly owned Canadian subsidiary, provides highly motivated management to VLEN to create long term value for shareholders and partners. For more information, log on to www.ValorEnergy.com.
Contact:
For Immediate ReleaseContacts:Valor Energy CorpInvestor RelationsContactVLEN(250)-423-3354Or Email - info@valorenergy.com
